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https://player.captivate.fm/episode/4bb65f93-14fe-44aa-a00a-f5ccb937e1a7/ PwC recently announced it’s allowing its 40,000 client-facing employees to work remotely from anywhere in the US. Joining companies like Facebook and Allstate, more and more employers are shifting to permanently remote models to attract and retain top talent. But what are the tax and legal implications of additional jurisdictions, employee schedule flexibility, and changes to company infrastructure? 91% of job-seeking Americans now expect flexibility to work from home. But what are the long term impacts of a large scale remote workforce, for both the employee and the employer? On today’s episode of the Taxgirl podcast, Kelly is joined by Nishant Mittal to chat about what the widespread work-from-anywhere shift will really mean for employers and employees. Nishant is the SVP and GM of Topia’s Business Travel solution responsible for strategy and growth. Nishant joined Topia as part of its acquisition of Monaeo, a tech company he co-founded and…

https://player.captivate.fm/episode/7772a783-d219-4ea7-ba8b-0cb430850db5/ From work from home, to deductions, to Wayfair, it’s clear that state and local taxes (SALT) have become critical in the tax world. While the larger focus used to sit squarely on federal taxes, the industry lens seems to be shifting toward SALT more and more. State and local taxes can seem complicated, especially in a nearly post-pandemic economy where so many taxpayers are still working remotely. How does the federal tax realm compare to SALT? On today’s episode of the Taxgirl podcast, Kelly is joined by Jamie Szal to chat about why this shift is happening and why SALT is so crucial to today’s tax landscape. Jamie is a tax attorney at Brann and Isaacson, where she focuses on assisting businesses with state and local tax controversy matters from audits and administrative proceedings through civil litigation. She is a graduate of Trinity College, and earned her JD from…

https://player.captivate.fm/episode/18524b1a-01dd-4345-a003-7dba63751e23/ In September, there were still about 17.6 million tax returns awaiting processing, and the IRS anticipates receiving over 4 million more returns in October. The delay has resulted in a lot of frustrated taxpayers, especially those grappling with error notices and being charged penalties and interest for alleged mistakes. Those penalties add up. For the fiscal year 2020, the IRS assessed nearly $31.4 billion in civil penalties. But are those penalties fair? Are there claims or defenses that can get taxpayers out of those penalties? There’s a lot that can go wrong while filing a tax return because the tax code is so huge and increasingly complicated. How can taxpayers seek accessible tax advice, and even defend tax penalty notices if necessary? On today’s episode of the Taxgirl podcast, Kelly is joined by Andrew Gradman to chat about the general scope of tax penalties and what taxpayers can do…

https://player.captivate.fm/episode/d3477195-49f1-46a8-a6ff-fba75f57c0e6/ It’s been a long 18 months for tax professionals–deemed #marchternity on Twitter. But is there light at the end of the tunnel? According to the 2021 Accountants Confidence Report, tax and accounting professionals are confident their clients’ finances will improve over the next 12-18 months. However, the same report shows industry professionals are also pessimistic about the overall health of small businesses and the US economy within the same time period.  The puzzle of tax compliance is complicated, especially for small businesses. In the midst of ever-evolving tax codes and changing technology, how can business owners remain confident and proactive? On today’s episode of the Taxgirl podcast, Kelly is joined by Sona Akmakjian to chat about the changing tax landscape and how business owners can remain empowered and informed while embracing new technology. Sona is Avalara’s executive leading global account partnerships and programs. As a CPA with 29 years…

https://player.captivate.fm/episode/18d249e5-85db-4962-a024-1a0796847d4f/ Over the past year, Kelly has talked a lot about “the profession.” Broadly, that refers to the tax world. However, tax as a career isn’t always easy to categorize, and not all tax professionals are accountants or preparers. Kelly is often asked how to get started in tax, and since the answer can be so nuanced, she was inspired to start an occasional series highlighting nontraditional tax careers. There are so many careers in tax besides accounting and preparing. For those who find data, legislature, and current events most exciting, tax reporting could be the perfect career. On today’s episode of the Taxgirl podcast, Kelly is joined by Allyson Versprille to chat about her career as a tax reporter. Allyson is a senior reporter covering tax and the IRS with Bloomberg Tax. Her articles deal with everything from significant regulatory developments to administrative news, especially that which involves the…

https://player.captivate.fm/episode/bc85ecc8-ff05-4e47-9f25-5756134d1703/ At age 26 in 2008, pop star Britney Spears was put under a court-sanctioned conservatorship. That meant that other people (including her father) that had been named as a conservator were allowed to make decisions about her career and her money. The story has attracted so much attention that it has its own New York Times documentary, and its own hashtag on Twitter, known as the #freeBritney movement. Recently, after 13 years of acting as a conservator, Britney Spears’ father finally agreed to step down from his position managing his daughter’s estate and career. Britney Spears’ conservatorship and the associated #freeBritney movement has brought a lot of attention to these legal scenarios, but what do guardianships and conservatorships actually entail? On today’s episode of the Taxgirl podcast, Kelly is joined by Alexandra “Sasha” Golden to explain more about conservatorships and why Britney Spears’ case has folks so captivated. Sasha…

https://player.captivate.fm/episode/68ee41eb-8f97-4779-ace0-d4d7a4be3ac3/ In March of 2020, Congress introduced a new tax credit: the Employee Retention Credit (ERC) as part of the CARES Act. The ERC was a direct response to the pandemic and was designed to help businesses keep employees on the payroll. But the ERC got off to a rocky start and was quickly overshadowed by its pandemic cousin, the Paycheck Protection Program (PPP). Nearly a year and a half later, the IRS is still issuing new guidance on the program, even as Congress is considering phasing it out. Business owners have dealt with a lot over the past year and a half — both the ERC and PPP are simple to claim and can offer relief retroactively. On today’s episode of the Taxgirl podcast, Kelly is joined by Dan Chodan to sort out all the intricacies of the ERC and PPP, and what they mean for taxpayers. Dan is…

https://player.captivate.fm/episode/c477431e-e9c0-4c94-ad34-b999f9a5d231/ While the subject of partnerships has brought Kelly many headaches, many tax professionals are drawn to them because of their notorious detail and nuance. It may come as no surprise that new tax technology innovations often find their way into the world of partnerships before other areas of the tax practice. As the complexity of business and partnerships grows, so does the challenge of tax compliance. For this reason, tax professionals are excited about the boom of technology and data tools in the field. Tax professionals are staying ahead of the ever-changing tax code by embracing innovative tax technology, from artificial intelligence to new, more streamlined iterations of Excel. On today’s episode of the Taxgirl podcast, Kelly is joined by Jerry Musi to chat about how tax technology can help with the ever-growing puzzle of tax compliance. Jerry recently penned an article for Bloomberg Tax and is a Tax…

https://player.captivate.fm/episode/71010514-0939-423d-a788-8030af3a1215 Michael Jackson’s death on June 25, 2009, shocked the world. And the legal drama that followed shocked many tax attorneys. At the time of his death, Jackson was clearly worth millions, but the exact value of his estate was unclear. The matter eventually ended up in court with a ruling that Michael Jackson’s image and likeness, at the time of his death, were worth considerably less than the IRS estimated. How this happened, and what it means for other estates, became a big question mark in the tax world. Calculating the value of someone’s intellectual property at the time of their death is a complex process. Why was Michael Jackson’s image and likeness valued so much lower than the IRS estimated? In today’s episode of the Taxgirl podcast, Kelly is joined by Scott Weingust and Aaron Stumpf from Stout to talk about intellectual property and estate valuation upon death.…

https://player.captivate.fm/episode/ca5e52fd-cedc-49e3-af90-03d0bfeefdea In 2017, the Bureau of Labor Statistics found that over 36% of Americans are a part of “the gig economy,” a dramatic increase from 2-4% in 2005. This is the most recent data available and does not account for pandemic numbers. Those jobs aren’t just paid differently, there are different tax consequences too, from Form 1099 reporting requirements to paying self-employment taxes. Contractor and freelancer taxes can feel complex, how do you sort it all out for your unique circumstances? Self-employment taxes don’t have to be intimidating. In today’s episode of the Taxgirl podcast, Kelly is joined by Sagar Shah to sort out what it means to be part of the gig economy. Sagar is a CPA and the managing partner at his firm, as well as the managing member of his real estate investment fund. Prior to opening his firm, Sagar worked for KPMG. Now, many of the…

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