PODCAST · business
Tax Update with Ron Cohen
by Ron Cohen
Ron Cohen has more than 33 years experience in public accounting and related industry work. He earned an undergraduate accounting degree from the University of Illinois, Chicago, and then a Masters in Taxation from Golden Gate University. Ron has extensive knowledge in International Tax and has traveled extensively throughout Europe and Asia handling tax issues. He has also served as a tax director for a company with sales in excess of $2 billion. Ron has taught courses in taxation and financial accounting at Ohlone Community College. Ron lives in Fremont with his wife, who teaches English at Mission San Jose High School, and has two sons. Prior to his life as a CPA advisors, Ron did some stand-up comedy in Chicago and received advice from several comedians with national T.V. shows. However, after observing that the vast majority of comedians have a very low taxable income, Ron decided to follow his father’s example and become a CPA.About The Show:Hello and welcome. This is Ron Cohen
Episodes
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Episode 32: Year End Tax Planning
Today we discuss: -A review of year end tax planning issues and strategies About The Show: Hello and welcome. This is Ron Cohen. I’m a tax partner with the firm of Greenstein, Rogoff, Olsen & Co., LLP and we’re located in beautiful downtown Fremont, California. I appreciate you signing in to…
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Episode 31: IRS inflation related adjustments to tax rates
Today we discuss: -IRS inflation related adjustments to tax rates -Social Security inflation adjustments -The status of tax law legislation post mid-term elections About The Show: Hello and welcome. This is Ron Cohen. I’m a tax partner with the firm of Greenstein, Rogoff, Olsen & Co., LLP and…
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Episode 30: IRS Comments on Inflation Reduction Act, Take Caution with VITA & New EV Credit Details
00:00 Intro 01:47 Caveats 04:00 The IRS comments on the passage of funding under the Inflation Reduction Act 11:11 A Reminder about Unclaimed Property Report and the new tax return questions about them 12:11 AICPA issues a letter to the IRS asking for help on new forms K-2 & K-3….road map for...
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Episode 29: The IRS is Waiving Penalties For Not Filing During Covid, If....
If you didn't file your tax return during covid, the IRS is giving you a break from failure to file penalties. You may be able to take action by September 30, 2022, for certain international forms. All the domestic forms needed to be already filed in August of the following year, but you may be...
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Episode 28: CA Middle Class Tax Refund & Is Biden's Student Loans Forgiveness Taxable?
If you’ve had any student loan debt cancelled as a result of President Biden’s New Executive Order on Student Loan Forgiveness, be prepared when it comes time to file your tax return. That $10,000 of debt cancellation may be considered taxable income. Also the middle class in California is...
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Episode 27: Criminal Investigations Division at the IRS
They will show you their badge, and they often carry firearms. The IRS has its own police force because your local police and the FBI and other Federal law enforcement DO NOTE LIKE TO GET INVOLVED with taxes. Note, not filing or paying DOES qualify as something very wrong, for large amounts or a...
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Episode 26: How Income Taxes Became Part of The Constitution
8/23/2022 This week we talk about: What you need to do when you close your business. (Do It right or you will receive surprise tax bill with penalties) Deolitte on various areas of the new Inflation Reduction Act The Sixteenth Amendment to the US Constitution and how it impacts you every minute…
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Episode 25: The Inflation Reduction Act Passed the House and Senate!
8/15/2022 This week we talk about: The Inflation Reduction Act Passed the House and Senate…POTUS to sign, soon, Excise tax on Stock buy-backs Senate: 51 to 50 with VP breaking tie House: The chamber approved the more than $430 billion package by a 220-207 margin, as all Democrats backed it and…
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Episode 24 The Proposed Inflation Reduction Act
This week we talk about: The proposed Inflation Reduction Act, Senator Sinema & the Manchin/Schumer Build Back Better Bill & The problem with multi-variable computations! Follow up on last week's podcast: 1) I may have been wrong! Corporate Welfare? The Student teaches the teacher! 2) Taiwan is…
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Episode 23 The Chips Bill is Set To Clear
This week we discuss how Senate Democrats are pursuing a narrower “BBB” without a significant tax title, how the Senate is set to clear pared-down CHIPS bill with tax break for US semiconductor makers and the Employee Retention Credit (ERC) is a refundable tax credit for businesses that retained...
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Episode 22, Joe Manchin Blocks The Build Back Better Bill Again
In this episode we cover, how Joe Manchin blocks The Build Back Better Bill again, Hungary wants to be left alone, more proposed Low Income Housing Credits, The 3.8% tax expansion proposal is criticized by the real estate industry. Show Notes:...
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Episode 21 The IRS is Getting a Funding Increase
In This episode we cover The New Retirement Bill, the Higher IRS Budget Proposal, the attempt to take away the “John Edwards” rule for S Corporations and other entities, Truckers and AB5. Show Notes: More on the Earn Act:...
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2020 IRA Contributions Extended To May 17
In Today's Show: 1) Clarification: The deadline for IRA contributions for 2020 is also extended to May 17, 2021. 2) Just don’t forget those Q1 Estimated Tax Payments still due 4/15/2021; But Congress is asking the IRS to also extend this to May 17, 2021. 3) Key Senator says (D)s don’t have the...
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The Biden Administration Corporate Tax Proposal
In Today’s Podcast: 1) The Biden Administration Corporate Tax Proposal and History of the Corporate Tax Rate 2) More on the $10,200 Exemption for Unemployment Benefits. Some states don’t conform. 3) May 17th just for individuals and NOT for the 2021 1st Quarterly Estimated Tax payment. 4) People...
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The IRS Is Messing with Taxation of Unemployment Benefits
Show Notes: 1) The IRS is messing with taxation of unemployment benefits 2) High-Income folks and tax evasion issues 3) Extensions and the rules 4) File for free with income up to $72,000. Greenstein Rogoff Olsen & Co [email protected] 510-797-8661 www.groco.com 1) The IRS is messing with taxation...
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April 15th Is Now May 15th
Today’s Subjects: 1) April 15th is now May 15th 2) California still won’t conform on PPP Loans 3) The American Rescue Plan 4) The IRS? There is an APP for That! Greenstein Rogoff Olsen & Co [email protected] 510-797-8661 www.groco.com Tax Day for individuals extended to May 17: Treasury, IRS…
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Tax Deadline: Make a Decision, Already!!!
Make a Decision, Already!!! Ways and Means Chair Joins In Calling for the IRS to Push Back the April 15 due Date: https://www.currentfederaltaxdevelopments.com/blog/2021/3/9/ways-and-means-chair-joins-in-calling-for-the-irs-to-push-back-the-april-15-due-date...
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IRS Still Processing 6.7 Million Returns from Last Year
1) IRS Still Processing 6.7 Million Returns from Last Year, Could Extend Tax Deadline for 2021 https://www.taxpracticeadvisor.com/individual-income-taxes/news/21212072/irs-still-processing-67-million-returns-from-last-year-could-extend-tax-deadline-for-2021 2) Tax Provisions in the American…
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The IRS Has 3 Million Unopened Pieces of Mail!
1) Form 1099 NEC for California – We discovered the IRS is not forwarding the Forms 1099-NEC to most states…as it has for Forms 1099-MISC in past years. This is because the form is new and, oddly, the normal document sharing process between the I.R.S. and state tax authorities has not been...
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Possible PPP Legislation & 1099-B
Possible PPP Legislation: https://www.bloomberg.com/news/articles/2020-05-26/hoyer-says-house-and-senate-close-on-ppp-loan-extension Form W-4P https://www.irs.gov/pub/irs-pdf/fw4p.pdf IRS Notice 2020-3 https://www.irs.gov/pub/irs-drop/n-20-03.pdf
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The PPP Loan Forgiveness Application
Deloitte Newsletter of House $3 Trillion tax bill: https://newsletters.usdbriefs.com/2020/Tax/TNV/200515_1.html?elqTrackId=6edc9867a07b496ca7fdcb97303b8367&elq=05e746544b3b4082a88ef1de99816883&elqaid=70867&elqat=1&elqCampaignId=13526 The House Bill:...
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Impact Payments For Deceased People & PPP’s 8 Week Spending Problem
Forbes: The IRS Wants Its Money Back - Stimulus Checks Made To Dead Taxpayers Must Be Returned https://www.forbes.com/sites/ryanguina/2020/05/06/stimulus-checks-made-to-dead-taxpayers-must-be-returned/#49ae3c3b2d97 How to spend PPP loan proceeds:...
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2020 Deficits and Potential Payroll Tax Holiday
California Health Insurance Penalty: https://www.coveredca.com/individuals-and-families/getting-covered/penalty-and-exemptions/ Guidance addresses deductibility of expenses related to Paycheck Protection Program loans: https://newsletters.usdbriefs.com/2020/Tax/TNV/200501_1.pdf $3.7 Trillion...
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04.29.20 President Trump’s Impact Payment letter & Foreign Pension Trusts
Rev. Proc. 2020-17 on Foreign Pension Trusts and summary from attorney Andrew Mitchell: https://intltax.typepad.com/intltax_blog/2020/03/rev-proc-2020-17-exemption-from-filing-forms-3520-and-3520-a-for-applicable-tax-favored-foreign-trus.html President Trump’s letter to taxpayers getting Impact...
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IRS Shutdown And SBA Report On Status Of Payroll Protection Loans
Small Business Administration report on status of Payroll Protection Loans https://home.treasury.gov/system/files/136/SBA%20PPP%20Loan%20Report%20Deck.pdf Deloitte Tax News & Views:...
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Paycheck Protection Program and Other Deadline Updates 4.13.20
Non-Filers: Enter Payment Info Here https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here Economic Impact Payments https://www.irs.gov/coronavirus/economic-impact-payments Deloitte Update on Phase 4 Covid-19 bill:...
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COVID - 19 Relief Status Update 04.06.20
‘Phase 4’ stimulus wish lists floated https://newsletters.usdbriefs.com/2020/Tax/TNV/200403_2.html?elqTrackId=6e9dc0831e234fbb852445add1ad3b21&elq=f288114b18834cf9b76e2880f0d7df36&elqaid=69563&elqat=1&elqCampaignId=13246 Two-year suspension of SALT deduction cap clears House...
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Corona Virus Relief (CARES ACT)
Today we're talking all about the Corona Virus Relief (The Cares Act) Tax and loan issues summary article from Forbes: https://www.forbes.com/sites/anthonynitti/2020/03/25/congress-reaches-agreement-on-a-coronavirus-relief-package-tax-aspects-of-the-cares-act/#3d3a762f5f99 Other issues article…
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House Committee Hearing on Wayfair Tax Compliance
House Committee Hearing on Wayfair Tax Compliance by Ron Cohen
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Cryptocurrency, Tax Exempt Organization Applications & Independent Contractor Rules
A Discussion on Virtual Game Currencies, Tax Exempt Organization Applications & More on Independent Contractor Rules in California
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California LLC Laws And IRS Identity Theft Reporting
A discussion on the tax history of LLC entities in California as well as information on the IRS's Fraud Reporting Division
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Foreign Bank Accounts And Gifts To The Federal Government
Today we talk about common problems people run into with Foreign Bank Accounts, Trusts or Foreign Pension Plans. Also how, if you so desire, can make a charitable gift to the U.S. Federal Government. For questions regarding these or other tax issues you may have please contact me at 510-797-8661
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Cryptocurrency, US National Debt & IRS Scam Calls 01.29.19
Join us this week as we discuss how the IRS is treating Cryptocurrency, Why the US actually has over $200 Trillion in national debt and how to know if a phone call from the IRS is real or a scam. For questions regarding these or other tax issues you may have please contact me at 510-797-8661
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ABOUT THIS SHOW
Ron Cohen has more than 33 years experience in public accounting and related industry work. He earned an undergraduate accounting degree from the University of Illinois, Chicago, and then a Masters in Taxation from Golden Gate University. Ron has extensive knowledge in International Tax and has traveled extensively throughout Europe and Asia handling tax issues. He has also served as a tax director for a company with sales in excess of $2 billion. Ron has taught courses in taxation and financial accounting at Ohlone Community College. Ron lives in Fremont with his wife, who teaches English at Mission San Jose High School, and has two sons. Prior to his life as a CPA advisors, Ron did some stand-up comedy in Chicago and received advice from several comedians with national T.V. shows. However, after observing that the vast majority of comedians have a very low taxable income, Ron decided to follow his father’s example and become a CPA.About The Show:Hello and welcome. This is Ron Cohen
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Ron Cohen
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