The Essential Tax Podcast

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 18In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Rebecca Mowat, Senior Partnerships Director, Currencies Direct. Currencies direct was established in 1996 and is headquartered in London, England. Rebecca is a transatlantic business leader specializing in partnerships and business development. She has over 20 years’ experience helping UK and US companies expand internationally. She originally came to the US via A2 Diplomat Visa while employed by the British government. She is currently based in Atlanta, Georgia.Tune in for these key takeaways:A discussion of how Currencies Direct can assist US individuals and businesses both domestic and abroad in minimizing financial losses due to exchange rates and simplifying the process of managing multiple international currencies.Insight into Executive Order 14247: Modernizing Payments To and From America’s Bank AccountInformation on how Currencies Direct can help a US or non-US person that does not have a US bank account to obtain a direct deposit for their IRS refund now that the IRS has ceased issuing paper checks for refunds.Information on how Currencies Direct can help a US or non-US person to submit an electronic payment to the IRS once the IRS implements their new protocol of only accepting payments via electronic methods.A discussion of different approaches to avoid some of the lengthy pitfalls surrounding giving and receiving FIRPTA payments.Information about the applicability of Currencies Direct’s accounts to unique structures like non-US trusts and Australian Superannuation Funds.Learn more about Rebecca Mowat & Currencies Direct: Connect with Rebecca on LinkedIn: https://www.linkedin.com/in/rebecca-mowat-2401602/Visit the FIRPTA page on Currencies Direct’s website: https://www.currenciesdirect.com/en-us/firptaFollow Currencies Direct on LinkedIn: https://www.linkedin.com/company/currencies-direct/Follow Currencies Direct on Facebook: https://www.facebook.com/currenciesdirectRegister for a no-fee Account & Preferential Rates with Currencies Direct: https://www.currenciesdirect.com/en-gb?afflno=0202110000823909&assetid=0000108Book a 30min Partnerships Meeting with Rebecca: https://calendly.com/rebecca-mowat/30min Further Resources:Link to Fact Sheet 2026-02: https://www.irs.gov/pub/taxpros/fs-2026-02.pdf Link to the Executive Order: https://www.whitehouse.gov/presidential-actions/2025/03/modernizing-payments-to-and-from-americas-bank-account/ ***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 17In this episode of The Essential Tax Podcast, Mishkin Santa visits with attorney Becki L. Young, Partner, Grossman Young & Hammond. Becki was recently recognized by Business Today as one of the Top 10 Most Influential Business Lawyers in the USA. Mishkin and Becki discuss US immigration policies as they relate to incoming foreign nationals and outgoing American citizens. They also discuss current events in the US immigration sphere.Tune in for these key takeaways:A discussion of the current landscape in the immigration arena for the path to US Citizenship, how it’s changed since January 2025, and where it might be heading for the future.Clarification regarding the physical presence and continuous residence requirements.How unresolved tax issues such as unpaid taxes, civil penalty disputes, and failure to timely file could affect a permanent resident application.Tips and best practices for applicants preparing for the citizenship application process.A timeline of the full US immigration & naturalization process and the various tests and requirements involved, as well as follow-up items to consider such as a US passport and naturalization certificate.Recent debate and changes to denaturalization and exit tax requirements.Opinions on the proposed “Exclusive Citizenship Act of 2025” introduced by Senator Bernie Moreno.Learn more about Becki L. Young: * Visit the Resources page on Grossman Young & Hammond’s website: https://www.grossmanyoung.com/resources/* View Becki’s profile on Grossman Young & Hammond’s website: https://www.grossmanyoung.com/attorneys/becki-young/* Connect with Becki on LinkedIn: https://www.linkedin.com/in/blyimmigration/* Follow Grossman Young & Hammond, LLC on LinkedIn: https://www.linkedin.com/company/grossmanyoung/* Visit Grossman Young & Hammond’s YouTube Channel: https://www.youtube.com/@grossmanyounghammondllc73* Follow Grossman Young & Hammond, LLC on Facebook: https://www.facebook.com/grossmanyoung/Further Resources:The proposed “Exclusive Citizenship Act of 2025” introduced by Senator Bernie Moreno: https://www.congress.gov/bill/119th-congress/senate-bill/3283 ***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 16In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Elizabeth McMorrow, JD, LL.M., owner at Elizabeth McMorrow Law, LLC. Prior to starting her law firm, Elizabeth served as in-house counsel at The Coca-Cola Company and Genzyme Corporation, a member of the Markit|CTI legal advisory team, a Senior Associate with Dewey Ballantine, and a clerk at the U.S. Court of International Trade.Tune in for these key takeaways:A brief explanation and history of FATCA (Foreign Account Tax Compliance Act), CRS (Common Reporting Standard), and CARF (Crypto-Asset Reporting Framework).A discussion of the state of CARF and several theories and predictions on what may be in store for the future of CARF reporting.Insight into the current impact that FATCA has on US ex-pats.Dialogue around the duplicative nature of the FBAR and Form 8938 and possibilities for the future of these two reporting mechanisms.Common issues with the current impact of FATCA on banks, hedge funds, assets, trusts, and fund administrators.Discussion about current impact of CARF in the digital asset space.An outline of situations where multi-jurisdictional reporting may be required and strategies for navigating.Learn more about Elizabeth McMorrow: Visit the About page on Elizabeth McMorrow Law LLC’s website: https://www.elizabethmcmorrowlaw.com/biographyConnect with Elizabeth McMorrow on LinkedIn: https://www.linkedin.com/in/elizabethmcmorrow/Peruse Elizabeth’s Blog Posts on Elizabeth McMorrow Law LLC’s website: https://www.elizabethmcmorrowlaw.com/blogFurther Resources:IRS Foreign Account Tax Compliance Guidance: https://www.irs.gov/businesses/corporations/foreign-account-tax-compliance-act-fatcaIRS Form 8938 Guidance: https://www.irs.gov/forms-pubs/about-form-8938FinCEN FBAR Guidance: https://www.fincen.gov/report-foreign-bank-and-financial-accountsWhite Paper: Who Reports Cryptocurrency to the IRS? - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=42610662025 White House Strengthening American Leadership in Digital Financial Technology - https://www.whitehouse.gov/wp-content/uploads/2025/07/digital-Assets-Report-EO14178.pdf2025 Testimony of Lawrence Zlatkin, Vice President, Tax, Coinbase Global, Inc. - https://www.finance.senate.gov/imo/media/doc/100125_zlatkin_testimony.pdfDigital Asset PARTIY Act, U.S. Congressman Max Miller - https://maxmiller.house.gov/posts/congressman-max-miller-releases-bipartisan-legislation-to-modernize-tax-treatment-of-digital-assets***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 15In this episode of The Essential Tax Podcast, Mishkin Santa speaks with David Roche, JD. David is a practicing Attorney with KVS Title, LLC. He has been employed with KVS for 14 years and has been working in the business for 23+ years. He is extremely knowledgeable regarding FIRPTA requirements and processes.Tune in for these key takeaways:A brief history of FIRPTA, who it applies to, and how it’s evolved since its inception in the 1980s.Some common myths and misnomers about the FIRPTA process and how to avoid pitfalls to make your FIRPTA transaction the most efficient possible.A summary of the options that real property buyers and sellers have regarding FIRPTA withholding and filing.A timeline for handling FIRPTA obligations with the IRS and insight into the IRS’s process for handling FIRPTA claims.A discussion of several common scenarios and challenges that a real estate buyer or seller might experience, and suggestions for the best ways to approach these scenarios.Clarification between a Social Security Number (SSN) and an Individual Taxpayer Identification Number (ITIN).When and why it may be necessary to employ both an attorney and a CPA to assist with FIRPTA transactions.Learn more about David Roche:Visit the Our People page on KVS Title’s website: https://www.kvstitle.com/our-peopleVisit the KVS Title website: https://www.kvstitle.com/Follow KVS Title on Facebook: https://www.facebook.com/KVSTitle/Further Resources:Visit The Wolf Group’s FIRPTA Tax Help Page: https://thewolfgroup.com/services/firpta-tax-help/Visit Congress.gov’s FIRPTA Page: https://www.congress.gov/crs-product/IF12498***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 14In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Mag. Christina Pichler, owner, auditor & tax advisor at Fidesta Consulting and Taxes, located in Wein, Austria. Christina is an attorney and has worked as a professor of corporate law at The Vienna University of Economics and Business. Christina has been established in the Austrian tax industry for over 25 years.Tune in for these key takeaways:An outline of how a person could become a tax resident in Austria.A discussion of some unique characteristics of the Austrian tax system and how they could affect a taxpayer or business that has Austrian reporting obligations.Some common issues that Americans looking to move to Austria might experience and how to prepare for them in advance.Discussion of the mechanics behind Austrian pension and trust systems.A brief overview of several Austrian tax structures that are unique to self-employed individuals.An outline of Austrian Usufructs and Wohngebrauchsrechts and how they can benefit a taxpayer that is undertaking Austrian estate planning.Insight into some American informational reporting requirements that relate to Austrian assets, domicile, income, and estate planning.Learn more about Christina Pichler: Leave a message with a question on Fidesta’s website: https://www.fidesta.at/de/kanzlei/kontakt/ Email Fidesta directly: [email protected] Christina Pichler’s profile on Fidesta’s website: https://www.fidesta.at/de/kanzlei/ansprechpartner/Further Resources:US-Austria Totalization Agreement: https://www.ssa.gov/international/Agreement_Pamphlets/austria.htmlUS-Austria Income Tax Treaty: https://www.irs.gov/businesses/international-businesses/austria-tax-treaty-documents US-Austria Gift and Estate Tax Treaty: https://www.jct.gov/getattachment/95a06bdf-a90e-4d83-94cc-6a6fd5c9e5da/s-34-82-2497.pdf ***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 13In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Catarina Breia, Partner & Head of Tax at Nexia – Santos Carvalho & Associados, SROC, S.A. Catarina leads the tax consulting division at Nexia – Santos Carvalho & Associados, located in Portugal. She has been a tax arbitrator in the Portuguese Administrative Arbitrage Court, is a member of the Portuguese Tax Association and International Fiscal Association, and holds a Master Executive in Taxation and Tax Planning from Catholic University of Portugal.Tune in for these key takeaways:Insight into the attractive location, climate, lifestyle, job market, and cost of living in Portugal that draws so many US expats and international celebrities to the beautiful country. The importance of strategizing before undertaking an international relocation to mitigate any tax burden and maximize the tax benefits of living in Portugal.A discussion of Portuguese criteria for personal tax residency and commonly associated risks of not researching these before relocating to Portugal.An outline of frequently utilized visas and Portuguese golden visa options, including a description about relevant tax regimes (NHR, IFICI) Information about inheritance and gift taxation in Portugal and how their policy of no wealth taxation can provide unique tax benefits in this area.Discussion surrounding the unique opportunities available in Portugal to entrepreneurs and business investors.Learn more about Catarina Breia:View Catarina Breia’s profile on Nexia – Santos Carvalho & Associados’ website: https://santoscarvsroc.pt/en/a-equipa/catarina-breia/Connect with Catarina Breia on LinkedIn: https://www.linkedin.com/in/catarina-breia-04159b3/Follow NEXIA – Santos Carvalho & Associados on LinkedIn: https://www.linkedin.com/company/nexia-sca/posts/?feedView=allVisit The Nexia YouTube Channel: https://www.youtube.com/channel/UCbY1iQu_U1vzIhAPCEtQJGQ/videosFollow Nexia – Santos Carvalho & Associados on Facebook: https://www.facebook.com/NEXIASANTOSCARVALHO/Further Resources:***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 12In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Jason Levy, JD, Counsel at Grossman, Young & Hammond. Jason has been practicing law in the United States for over 28 years. Previously, Jason served as Senior Attorney with the Office of the General Counsel, Immigration Law Division at the U.S. Department of Homeland Security (DHS). While at DHS, Jason advised policy, operational, and legal leadership on a wide array of immigration-related rulemakings and policies instituted by DHS and its component agencies (USCIS, CBP, and ICE), with a primary focus on employment-based immigration policies.Tune in for these key takeaways:A brief history of the development of immigration law in the US Ways to obtain permanent residency with the USWhen the US government might change or update the current US Immigration statutes, and when they won’tIn-depth discussion of different types of US Visas, how to obtain each one, and speculation of how the criteria may change in the futureDiscussion about the status of the US government’s Gold Card and Platinum Card initiatives and how they might affect US immigration law and tax residencyCommon misconceptions and certain facts about how a person might inadvertently surrender their US Green Card and options for those individuals to maintain or preemptively protect their LPR statusLearn more about Jason Levy: Visit the Resources page on Grossman Young & Hammond’s website: https://www.grossmanyoung.com/resources/View Jason Levy’s profile on Grossman Young & Hammond’s website: https://www.grossmanyoung.com/attorneys/jason-levy/Connect with Jason Levy on LinkedIn: https://www.linkedin.com/in/jason-levy-5776a41/Follow Grossman, Young & Hammond on LinkedIn: https://www.linkedin.com/company/grossmanyoung/Visit Grossman, Young & Hammond’s YouTube Channel: https://www.youtube.com/@grossmanyounghammondllc73Follow Grossman, Young & Hammond on Facebook: https://www.facebook.com/grossmanyoung/Further Resources:US DOJ Executive Office of Immigration Review - https://www.justice.gov/eoirUS DOJ Matter of Lok (1981) - https://www.justice.gov/sites/default/files/eoir/legacy/2012/08/14/2878.pdfMatter of Wong (1977) - https://www.justice.gov/sites/default/files/eoir/legacy/2012/08/17/2549.pdfGold Card Website - https://trumpcard.gov/Matter of Kane (1975) - https://www.justice.gov/sites/default/files/eoir/legacy/2012/08/17/2371.pdf***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 11In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Nghi Huynh, Transfer Pricing Partner-in-Charge, Armanino Advisory LLC. Nghi is a proven tax professional with over 20 years of experience in transfer pricing, research, audit, and tax planning projects within Big 4 public accounting firms. Tune in for these key takeaways:An overview of Transfer Pricing models, planning, and industries that commonly utilize this methodWhat Transfer Pricing might look like for a small startup company entering into international markets that include mid-size to large competitorsWhen and how to enlist assistance with transfer pricing beyond tangible goods (services, IP, cost-sharing, financing arrangements)Situations that might call for Advance Pricing Agreements or Mutual Agreement ProceduresAn overview of typical Transfer Pricing documentation, when to refresh, and how best to maintain long-termDetails about common intercompany funding pitfalls when multinational enterprises establish and expand their foreign operationsA discussion of a few of the most efficient ways for parent companies to fund foreign subsidiaries (loans, capitalization, short-term AR/AP)Updates on the current state of transfer pricing litigation with the IRS and high-risk jurisdictions for audits and adjustmentsLearn more about Nghi Huynh:Visit the Transfer Pricing page on Armanino’s website: https://lnkd.in/gZHF5hjYView Armanino’s website: https://www.armanino.com/Connect with Nghi Huynh on LinkedIn: linkedin.com/in/nghi-huynhCheck out Armanino’s most recent Transfer Pricing newsletter: https://www.linkedin.com/posts/tax-armanino_armanino-tariff-advisory-ugcPost-7371204268365737984-xq5Z/?utm_source=social_share_send&utm_medium=member_desktop_web&rcm=ACoAAADbAhkB5xgWo_NM0eh5PpgcFdl7gNb6C_AFollow Armanino on LinkedIn: https://www.linkedin.com/company/armanino/Visit Armanino’s YouTube Channel: https://www.youtube.com/c/armaninoFollow Armanino on Facebook: https://www.facebook.com/Armanino.HQ/***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 10In this episode of The Essential Tax Podcast, your host, Mishkin Santa, dives into some hot tax topics for #InternationalPodcastDay.Tune in for these key takeaways:Social media & Influencer guidance for tax practitioners and relevant case law.When a tax practitioner might be considered culpable for advice offered on social media.Some of the dangers of a one-size-fits-all approach to professional tax advice.The importance of a disclaimer and when offering tax advice on social media.An outline of the One Big Beautiful Bill Act’s changes to IRS rules for charitable contributions and why this might be important for your own personal tax planning.A brief guided tour of the brand-new IRS Schedule 1A that pertains to certain tax deductions.An upcoming change at the IRS, stemming from an Executive Order by the US President, that will change the way refunds & paper checks are accepted and/or processed.Further Resources:2025 “Draft” Schedule 1-A: https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdfExecutive Order – Modernizing Payments to and from America’s Bank Account: https://www.whitehouse.gov/presidential-actions/2025/03/modernizing-payments-to-and-from-americas-bank-account/TWG Blog Post - https://thewolfgroup.com/blog/the-irs-will-stop-issuing-refunds-via-paper-check-in-september-2025/ ***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

Tune in to this mini episode of The Essential Tax Podcast for practical tips and updates on a timely topic in the international tax realm. Your host, Mishkin Santa, will briefly guide you through the most up-to-date information on this hot tax topic as well as provide his invaluable analysis and expert recommendations.About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: YouTube: https://www.youtube.com/@TheWolfGroupPC Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 9In this episode of The Essential Tax Podcast, Mishkin Santa discusses recent news items related to FinCEN Form 114 (FBAR) requirements, and how they will affect US and international tax reporting.Tune in for these key takeaways:A brief history of the FBAR’s origins in the Bank Secrecy Act of 1970.A summary of which taxpayers need file an FBAR and an explanation of the aggregate reporting threshold that triggers the requirement.Tips for recordkeeping and due diligence that can aid in making ongoing FBAR reporting and potential audit defense more manageable.A discussion of recent court cases that have affected judicial treatment of FBAR disputes and penalty assessments.An overview of current penalties for noncompliance with FBAR filing requirements.Further Resources:Bank Secrecy Act of 1970 - https://www.fincen.gov/resources/statutes-and-regulations/bank-secrecy-actIRS FBAR Practice Unit - https://www.irs.gov/pub/fatca/int_practice_units/fincen-form114-fbar.pdf IRS Schedule B - https://www.irs.gov/forms-pubs/about-schedule-b-form-1040 United States v. Timberly E. Hughes - https://law.justia.com/cases/federal/appellate-courts/ca9/23-15712/23-15712-2024-08-21.htmlIRM 4.26.16.4.4.1 - https://www.irs.gov/irm/part4/irm_04-026-016 United States v. Saydam - https://dockets.justia.com/docket/california/candce/4:2022cv07371/404157 United States v. Rohrbasser - https://dockets.justia.com/docket/connecticut/ctdce/3:2024cv00959/159875United States v. Rotta - https://www.justice.gov/opa/pr/wealthy-miami-man-pleads-guilty-decades-long-scheme-defraud-irsUnited States v. Leeds - https://law.justia.com/cases/federal/district-courts/idaho/iddce/1:2022cv00379/50692/36/United States v. Gernot John Noell - https://www.courtlistener.com/docket/65386409/united-states-v-noell/United States v. Stephen M. Kerr - https://www.courtlistener.com/docket/16355120/united-states-v-kerr/ United States v. Sagoo - https://dockets.justia.com/docket/texas/txndce/4:2024cv01159/397369 Kurotaki v. United States - https://law.justia.com/cases/federal/district-courts/hawaii/hidce/1:2022cv00063/157629/50/ Bittner v. United States - https://www.supremecourt.gov/opinions/22pdf/21-1195_h3ci.pdfIRS Memo SBSE-04-0723-0034 - https://www.irs.gov/pub/foia/ig/sbse/sbse-04-0723-0034-redacted.pdf2025 FBAR Penalty Adjustment Table - https://www.federalregister.gov/documents/2025/01/17/2025-01374/financial-crimes-enforcement-network-inflation-adjustment-of-civil-monetary-penalties ***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: * YouTube: https://www.youtube.com/@TheWolfGroupPC Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

Title: Substantiation for Conversion of Personal Residence to Rental PropertyShow Notes:Smith v. Commissioner, T.C. Memo 2025-24 (March 24, 2025)Treasury Regulation 1.167(g)-1: https://www.law.cornell.edu/cfr/text/26/1.46-3 About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, MishkinSanta takes on the complex world of tax — all the jargon, acronyms, and stuffthat makes your eyes glaze over, and explains it in an impactful way tounderstand the complex and unknown areas.Watch or listen to more episodes of The Essential TaxPodcast: * YouTube: https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa: * Connect withMishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The WolfGroup on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on The Wolf Group’swebsite: https://thewolfgroup.com/our-people/mishkin-santa

Title: Placed in Service Rules UpdateShow Notes:Lentine v. Commissioner, T.C. Docket No. 12443-21 (March 25, 2025)Treasury Regulation 1.167(a)-10: https://www.law.cornell.edu/cfr/text/26/1.167(a)-10 Treasury Regulation 1.46-3: https://www.law.cornell.edu/cfr/text/26/1.46-3About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, MishkinSanta takes on the complex world of tax — all the jargon, acronyms, and stuffthat makes your eyes glaze over, and explains it in an impactful way tounderstand the complex and unknown areas.Watch or listen to more episodes of The Essential TaxPodcast: * YouTube: https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa: * Connect withMishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The WolfGroup on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on The Wolf Group’swebsite: https://thewolfgroup.com/our-people/mishkin-santa

Title: Foreign Rental Property and Qualified Business Reporting Show notes:                                       IRS: Form 8858: https://www.irs.gov/pub/irs-pdf/f8858.pdf                         IRC 168: https://www.law.cornell.edu/uscode/text/26/168                             Treasury Regulation 1.989(a)-1: https://www.law.cornell.edu/cfr/text/26/1.989(a)-1About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, MishkinSanta takes on the complex world of tax — all the jargon, acronyms, and stuffthat makes your eyes glaze over, and explains it in an impactful way tounderstand the complex and unknown areas.Watch or listen to more episodes of The Essential TaxPodcast: * YouTube: https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa: * Connect withMishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The WolfGroup on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on The Wolf Group’swebsite: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 8In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Austin C. Carlson, JD, CPA, Partner at Gray Reed. As a business lawyer and CPA, Austin brings a unique and rare set of skills and perspectives to every area of his practice, which includes corporate and tax counsel on M&A deals, complex corporate and tax planning for domestic and international transactions, foreign account and income disclosure and penalty abatement issues. Give this episode a listen to learn more about non-willful statements and their importance to the IRS’s Streamlined Filing Compliance Procedures.Tune in for these key takeaways:A brief history of the IRS Offshore Voluntary Disclosure Program (OVDP), Streamlined Filing Compliance Procedures (SFCP), and Amnesty Programs in generalThe role of accountant vs. an attorney in amnesty program disclosures with a specific discussion related to the preparation of the Non-Willful StatementThe timeline of involvement for an attorney in an amnesty program disclosureThe key differences of Willful vs. Non-Willful behavior including the associated civil penaltiesA comprehensive discussion of the best practices and contents required for the Non-Willful Statement required for a Streamlined Filing Compliance Procedures (SFCP)A discussion related to the IRS processing time, expected responses, follow ups post Streamlined Filing Compliance Procedures (SFCP) submissionLearn more about Austin C. Carlson:Visit the News & Resources page on Gray Reed’s website: https://www.grayreed.com/NewsResourcesView Austin C. Carlson’s profile on Gray Reed’s website: https://www.grayreed.com/Our-People/Austin-C-CarlsonConnect with Austin C. Carlson on LinkedIn: https://www.linkedin.com/in/austin-carlson-jd-cpa-63031029/Follow Gray Reed on LinkedIn: https://www.linkedin.com/company/grayreed/Visit Gray Reed’s YouTube Channel: https://www.youtube.com/@GrayReedLawFollow Gray Reed on Facebook: https://www.facebook.com/GrayReedLaw/Further Resources:SDOP FAQ 13: https://www.irs.gov/individuals/international-taxpayers/streamlined-filing-compliance-procedures-for-us-taxpayers-residing-in-the-united-states-frequently-asked-questions-and-answers***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: YouTube: https://www.youtube.com/@TheWolfGroupPC Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 8In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Nick Hart, VAT Partner, Saffery – United Kingdom; Michael Salman, Director, Nexia DHW – Netherlands; and Tobias Barkschat – Senior Manager, Nexia GmbH – Germany. Nick, Michael, and Tobias have a wealth of combined experience in navigating the European VAT. Join us for this episode to learn more about how this tax could apply to your business or you personally.Tune in for these key takeaways:Critical information about the purpose, process to register, and collection procedures for the European Value Added Tax (VAT) How to obtain and utilize an Article 23 license in the Netherlands to assist in minimizing VAT burdenInventory and physical presence requirements in the UK, Germany, and the Netherlands, and recommendations for best practices to navigate them as a US business owner Similarities between permanent (fixed) establishment versus local entity establishment in the Netherlands and Germany, and how this choice can affect the VAT A comparison of the UK VAT burden in business-to-business and business-to-consumer setups, and how this supply chain variation can shift the tax liability between business and consumerThe European Union’s ‘one-stop shop’ proposition and how it could simplify VAT among different European countriesA discussion of VAT invoices, deadline requirements, reporting thresholds, and other variances between the UK, Germany, and the NetherlandsAn overview of the rapid evolution of VAT and how it can affect businesses entering the European marketplaceTips for corrective VAT compliance, amnesty programs, and a discussion of potential penalties Information about VAT pitfalls to eCommerce entry into the European market, and how to avoid themA brief overview of the Nexia network structure and the many advantages the cooperation amongst its practitioners offers to international taxpayers and businessesLearn more about today’s guests:Connect with Nick Hart on LinkedIn: https://www.linkedin.com/in/nick-hart51/?originalSubdomain=ukView Nick Hart’s profile on Saffery’s website: https://www.saffery.com/our-people/nick-hart/Visit Saffery’s YouTube Channel: https://www.youtube.com/channel/UCXR88yBPil9YZLO_5A__lzQConnect with Michael Salman on LinkedIn: https://www.linkedin.com/in/michaelsalman/Visit De Hooge Waerder’s YouTube Channel: https://www.youtube.com/user/dehoogewaerderFollow De Hooge Waerder on Facebook: https://www.facebook.com/dehoogewaerder/photos/?locale=nl_NL&_rdrConnect with Tobias Barkschat on LinkedIn: https://www.linkedin.com/in/tobias-barkschat-2a0b53142/?originalSubdomain=deView Tobias Barkschat’s profile on Nexia GmbH’s website: https://www.nexia.de/en/our-people/detail/tobias-barkschatVisit Nexia’s YouTube Channel: https://www.youtube.com/channel/UCbY1iQu_U1vzIhAPCEtQJGQFurther Resources:VAT eCommerce - One Stop Shop: https://vat-one-stop-shop.ec.europa.eu/news-reports/report-application-vat-e-commerce-package-2024_enEU Taxation & Customs Union VAT Landing Page: https://taxation-customs.ec.europa.eu/taxation/vat_enVAT Rules & Rates: https://europa.eu/youreurope/business/taxation/vat/vat-rules-rates/index_en.htmNexia Slides on European Indirect Tax Services for US Outbounds: https://thewolfgroup.com/wp-content/uploads/2025/07/Nexia-European-VAT-for-US-outbounds-July-2025.pptx Watch or listen to more episodes of The Essential Tax Podcast: YouTube: https://www.youtube.com/@TheWolfGroupPC Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 6 In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Austin C. Carlson, JD, CPA, Partner at Gray Reed. As a business lawyer and CPA, Austin brings a unique and rare set of skills and perspectives to every area of his practice, which includes corporate and tax counsel on M&A deals, complex corporate and tax planning for domestic and international transactions, foreign account and income disclosure and penalty abatement issues including the Streamlined Filing Compliance Procedures and Delinquent International Information Return Submission Procedures. Tune in to hear Austin and Mishkin discuss key provisions of the One Big Beautiful Bill Act (OB3) that was recently signed into law by President Trump.  Tune in for these key takeaways: A comprehensive review of the Qualified Opportunity Zone (QOZ) Rules introduced under the 2017 Tax Cuts and Jobs Act (TCJA) A discussion of the continuation and modification of the QOZ Rules under OB3 Potential tax planning strategies and special opportunities for taxpayers under the modified QOZ Rules A comprehensive review of the Bonus Depreciation rules under TCJA  A discussion of the continuation and modification of the Bonus Depreciation Rules under OB3 Potential tax planning strategies related to the Bonus Depreciation Rules for domestic and foreign businesses looking to create or onshore business entities in the United States A comprehensive review of the Qualified Small Business Stock (QSBS) Rules under TCJA A discussion of the continuation and modification of the QSBS Rules under OB3 Potential tax planning strategies for United States C-Corporations under the QSBS Rules for 2025 and beyond A discussion related to tax liability insurance and how this may be utilized for uncertain tax positions related to QSBS   Learn more about Austin C. Carlson: Visit the News & Resources page on Gray Reed’s website: https://www.grayreed.com/NewsResources View Austin C. Carlson’s profile on Gray Reed’s website: https://www.grayreed.com/Our-People/Austin-C-Carlson Connect with Austin C. Carlson on LinkedIn: https://www.linkedin.com/in/austin-carlson-jd-cpa-63031029/ Follow Gray Reed on LinkedIn: https://www.linkedin.com/company/grayreed/ Visit Gray Reed’s YouTube Channel: https://www.youtube.com/@GrayReedLaw Follow Gray Reed on Facebook: https://www.facebook.com/GrayReedLaw/  Further Resources: OB3 - https://www.congress.gov/bill/119th-congress/house-bill/1/text Tax Cuts and Jobs Act of 2017 - https://www.congress.gov/crs-product/R48485  QOZ IRCs - https://www.law.cornell.edu/uscode/text/26/subtitle-A/chapter-1/subchapter-Z Map of QOZs: https://opportunityzones.com/location/ IRC 179 (bonus depreciation) - https://www.law.cornell.edu/uscode/text/26/179 IRC 1202 (QSBS) - https://www.law.cornell.edu/uscode/text/26/1202  Tax Liability Insurance - https://www.aon.com/apac/transaction-liability/tax-insurance.jsp   *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.  Watch or listen to more episodes of The Essential Tax Podcast:  YouTube: https://www.youtube.com/@TheWolfGroupPC  Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf  Connect and learn more from your host, Mishkin Santa:  Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa 

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 5 In this episode of The Essential Tax Podcast, Mishkin presents and analyzes a brief history and some significant tax provisions of the One Big Beautiful Bill Act (OB3) that was recently signed into law by President Trump.  Tune in for these key takeaways: A discussion of widely publicized provisions that may have been expected, but were ultimately not included in the bill, such as the Trump Gold Card (tax treatment of certain international entrepreneurs) Important changes to the standard deduction and the state and local tax (SALT) deduction Changes to Charitable deduction rules and requirements Details of the “no tax on tips” rules, including a definition of qualified tips, phase out amounts, limitations, and time restrictions to utilize this provision An explanation of the new deduction for overtime pay and recommendations for specific filing statuses to maximize its benefit Changes to IRC 529 plans and what to know about the new Trump Accounts (fka MAGA Accounts) Important information about the extension and modification of limitation on gambling and wagering losses, including an explanation of the changes in session netting Details about the extension of the TCJA gift and estate tax exemption Important changes made by OB3 regarding business entity types, and which ones to utilize when setting up a new business A discussion of the continuation and modification of the Bonus Depreciation Rules and qualified business income deduction under OB3 A discussion of the continuation and modification of the qualified small business stock (QSBS) rules under OB3 An overview of the continuation and modification of the qualified opportunity zone (QOZ) rules under OB3 OB3’s termination of many energy credits and how to maximize deductions before the changes take effect Relevant information about Congress’s technical correction of the error in the TCJA downward attribution of stock ownership Changes to certain provisions and limitations relating to remittance transfer tax Recent changes to IRS staffing and how it may affect tax processing and response times  Further Resources: OB3 - https://www.congress.gov/bill/119th-congress/house-bill/1/text Tax Cuts and Jobs Act of 2017 - https://www.congress.gov/crs-product/R48485  QOZ IRCs - https://www.law.cornell.edu/uscode/text/26/subtitle-A/chapter-1/subchapter-Z Map of QOZs: https://opportunityzones.com/location/ IRC 179 (bonus depreciation) - https://www.law.cornell.edu/uscode/text/26/179 IRC 1202 (QSBS) - https://www.law.cornell.edu/uscode/text/26/1202  Tax Liability Insurance - https://www.aon.com/apac/transaction-liability/tax-insurance.jsp  CIV Enforcement Memo Re Denaturalization: https://www.justice.gov/civil/media/1404046/dl?inline  *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:   YouTube: https://www.youtube.com/@TheWolfGroupPC  Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf  Connect and learn more from your host, Mishkin Santa:  Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa 

Tune in to this mini episode of The Essential Tax Podcast for practical tips and updates on a timely topic in the international tax realm. Your host, Mishkin Santa, will briefly guide you through the most up-to-date information on this hot tax topic as well as provide his invaluable analysis and expert recommendations. About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * YouTube: https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf  Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa 

Tune in to this mini episode of The Essential Tax Podcast for practical tips and updates on a timely topic in the international tax realm. Your host, Mishkin Santa, will briefly guide you through the most up-to-date information on this hot tax topic as well as provide his invaluable analysis and expert recommendations.About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * YouTube: https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa 

Tune in to this mini episode of The Essential Tax Podcast for practical tips and updates on a timely topic in the international tax realm. Your host, Mishkin Santa, will briefly guide you through the most up-to-date information on this hot tax topic as well as provide his invaluable analysis and expert recommendations.i. June 10th TIGTA Report: https://www.tigta.gov/sites/default/files/reports/2025-06/2025400026fr.pdfii. IRS Website for Amended Tax Returns: https://www.irs.gov/filing/wheres-my-amended-returnAbout The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: YouTube: https://www.youtube.com/@TheWolfGroupPC Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 4In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Eleni Drakou, Partner at Michael Kyprianou Law Firm, Limassol, Cyprus. Eleni holds a law degree from the Aristotle University of Thessaloniki in Greece and a master’s degree in management (MA) from the University of Wolverhampton Business School in the United Kingdom. Eleni specializes in immovable property law and has extensive immigration law experience. Her practice focuses on strategic planning for business growth in Cyprus and abroad.Eleni and Mishkin discuss general Cyprus tax and immigration laws, the status of residency by investment and other beneficial tax programs in Cyprus, an overview of Cyprus entities and trusts, and more.Tune in for these key takeaways:Information about the Cyprus 183-day and 60-day tax residency rulesDetails about the new Cypriot Center of Business Interest rule, to be implemented in 2026Cyprus income tax rates and reporting requirementsCyprus tax exemptions and benefits for non-domiciled individualsDetails on the upcoming Cyprus tax reform initiatives and associated updates to the Cyprus tax code coming in early 2026Available Cyprus Ministry of Finance tax deductions for charitable contributions, home loans, dependents, and rental paymentsCypriot Wealth and special assessment taxes for immigrating individualsDetails about the Cyprus Investment Promotion AgencySuspension of the Cyprus Citizenship by Investment (CBI) Program and replacement with other paths to naturalizationHow the US Controlled Foreign Corporation (CFC), Foreign Grantor/Non-Grantor Trust, Passive Foreign Investment Company (PFIC), and Foreign Financial Asset reporting rules apply to various aspects of Cyprus financial assets, investments, and entitiesThe transition from temporary to permanent tax residency in CyprusCyprus’s Requirements for reporting worldwide incomeRequirements, purposes, and benefits of establishing a business entity or trust in CyprusCurrent and potential future Cyprus tax rates for business entities and trustsLearn more about Eleni Drakou:Visit the About page on Michael Kyprianou Law Firm’s website: https://www.kyprianou.com/about/View Eleni’s profile on Michael Kyprianou Law Firm’s website: https://www.kyprianou.com/key_contact/eleni-drakou/Connect with Eleni on LinkedIn: https://www.linkedin.com/in/elenidrakou/Follow Michael Kyprianou Law Firm on LinkedIn: https://www.linkedin.com/company/m-kyprianou-llc/Visit Michael Kyprianou Advocates’ YouTube Channel: https://www.youtube.com/channel/UCzOqshpyMFb7nk3EKZeHlWw/videosFollow Michael Kyprianou Law Firm on Facebook: https://www.facebook.com/MiKyprianou***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: * YouTube: https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa:Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 3In this episode of The Essential Tax Podcast, Mishkin Santa visits with attorney Becki L. Young, Partner, Grossman Young & Hammond. Becki was recently recognized by Business Today as one of the Top 10 Most Influential Business Lawyers in the USA. Mishkin and Becki discuss US immigration policies as they relate to incoming foreign nationals and outgoing American citizens. They also discuss current events in the US immigration sphere.Tune in for these key takeaways:Types of US Immigrant Visas (Green Card, EB Visas)Types of US-Non-Immigrant Visas (A, G1-G5 (plus NATO), H1B, F, J, L, M, and O)US Visa Wait & Processing Times, Priority Dates, and Best PracticesThe US Department of State’s Visa BulletinDifferences in US Tax Treatment by Visa TypeChallenges of Leaving and/or Re-Entering the US as a Foreign PersonChanges that the Current US Political Administration Has Brought to the Visa ProcessG28 (Notice of Representation) and How it Can Help During the Immigration ProcessStatus of the New US Gold Card ProgramThe Process & Timeline for Conversion of Temporary Visa to Green CardHow the Substantial Presence Test Applies to Various Visa TypesThe Proposed Excise Tax (Remittance Transfer) on Outbound US Monetary TransfersThe Status of the Current Birthright Citizenship Case in SCOTUSThe IRC 7345 Limit and How it Can Affect Passport StatusLearn more about Becki L. Young:Visit the Resources page on Grossman Young & Hammond’s website: https://www.grossmanyoung.com/resources/View Becki’s profile on Grossman Young & Hammond’s website: https://www.grossmanyoung.com/attorneys/becki-young/Connect with Becki on LinkedIn: https://www.linkedin.com/in/blyimmigration/Follow Grossman Young & Hammond, LLC on LinkedIn: https://www.linkedin.com/company/grossmanyoung/Visit Grossman Young & Hammond’s YouTube Channel: https://www.youtube.com/@grossmanyounghammondllc73Follow Grossman Young & Hammond, LLC on Facebook: https://www.facebook.com/grossmanyoung/Further Resources:The Visa Bulletin: http://travel.state.gov/content/travel/en/legal/visa-law0/visa-bulletin.htmlGrossman Young & Hammond Website: https://www.grossmanyoung.com/The Visa Bulletin: https://travel.state.gov/content/travel/en/legal/visa-law0/visa-bulletin.html Third Party Calculators: https://www.mygcvisa.com/calculator/ Processing Times: https://egov.uscis.gov/processing-times/ E Visa Treaty Countries: https://travel.state.gov/content/travel/en/us-visas/visa-information-resources/fees/treaty.html Gold Card: Trumpcard.govGold Card Forbes Article: https://www.forbes.com/sites/suzannerowankelleher/2025/05/29/why-trumps-gold-card-visa-may-never-happen-math-does-not-add-up-expert-says/ IRC 7345: https://www.law.cornell.edu/uscode/text/26/7345 ***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast:YouTube: https://www.youtube.com/@TheWolfGroupPCApple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msantaFollow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pcRead Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 2 - 2025 US-Australia Cross-Border Tax Update with Tom Howard of Pilot PartnersIn this episode of The Essential Tax Podcast, Mishkin Santa speaks with Tom Howard, CA, Associate Director of Taxation Advisory at Pilot Chartered Accountants in Brisbane, Queensland, Australia. In this episode, Tom and Mishkin dive into the intricacies of Australian Superannuation, particularly focusing on self-managed super funds (SMSFs) and how they compare to U.S. retirement structures like Roth IRAs and 401(k) plans.Tune in for these key takeaways:The basics of Australian Superannuation—a protected, tax-advantaged retirement savings vehicleThe flexibility and appeal of Self-Managed Super Funds (SMSFs) for family groups with significant wealthTax benefits of contributing to Australian SuperannuationThe impact of capital gains tax on property investments within SMSFsRegulatory limitations on Australian Super contributionsChallenges for U.S. taxpayers with Australian Super fundsComplications arising when Australians use their SMSFs to invest in U.S. real estate, including FIRPTA withholding on sales and potential U.S. tax compliance issuesThe process for obtaining rulings from the Australian Tax Office (ATO)Some differences between Australia’s private ruling process (no ATO fee) and the U.S. IRS (high fees for private rulings).Learn more about Tom Howard:Visit the Services page on Pilot Partners’ website: https://www.pilotpartners.com.au/services/View Tom’s profile on Pilot Partners’ website: https://www.pilotpartners.com.au/people/thomas-howard/Connect with Tom on LinkedIn: https://www.linkedin.com/in/tom-howard-231136116/?originalSubdomain=auFollow Pilot Partners on LinkedIn: https://www.linkedin.com/company/pilot-partners/Visit Pilot Partners’ YouTube Channel: https://www.youtube.com/channel/UCJDG2Jpwm0zy4HsNWtwP2eAFollow Pilot Partners on Facebook: https://www.facebook.com/pilotpartnersFurther Resources:Pilot Partners: https://www.pilotpartners.com.au/Form 3520: https://www.irs.gov/forms-pubs/about-form-3520 Form 3520-A: https://www.irs.gov/forms-pubs/about-form-3520-a TWG Foreign Pension Blog Post: https://thewolfgroup.com/blog/proposed-regulations-issued-in-2024-affect-your-options-for-foreign-pension-reporting/ Form 5471: https://www.irs.gov/forms-pubs/about-form-5471 Form 8992: https://www.irs.gov/forms-pubs/about-form-8992 Form 1116: https://www.irs.gov/pub/irs-pdf/f1116.pdfInstructions to Form 1116: https://www.irs.gov/instructions/i1116 ***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: YouTube: https://www.youtube.com/@TheWolfGroupPC Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, S2 E1In this episode of The Essential Tax Podcast, Mishkin Santa summarizes key points of the recently proffered House Tax Bill—the “One Big, Beautiful Bill.” A version of this Bill could be signed into law as early as July 2025. Mishkin reviews a few of the newsworthy changes that are proposed relating to hot tax topics such as tax on tips, overtime income, auto loan interest, charitable contributions, and more!Tune in for these key takeaways:*The new (and controversial) five percent excise tax on remittance transfers*Tips and overtime may become tax-deductible*Proposed changes to tax laws on auto loan interest*Changes to the Above-the-Line deductions for charitable contributions*Parents and caregivers may now be able to establish MAGA accounts for children*Memberships to qualified fitness facilities may be considered medical expenses*Contingency fees for tax representation could become deductible*Updates to penalties for unauthorized disclosure of tax information*Proposed termination of Inflation Reduction Act provisions*New Section 899: enforcement of remedies against unfair foreign taxes*Identification of provisions that sunset after 2028, consistent with reconciliation rules*Senate version is forthcomingAdditional Resources:Link to the House Bill (The One, Big, Beautiful, Bill or TOBBB): https://waysandmeans.house.gov/wp-content/uploads/2025/05/SMITMO_017_xml.pdf ***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: * YouTube: https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 30In this episode of The Essential Tax Podcast, Mishkin Santa speaks with David J. Warner, Tax Attorney & Shareholder at Holtz, Slavett & Drabkin, a tax controversy and tax litigation law firm with nine former IRS attorneys.Tune in for these key takeaways: * The complexities of offshore voluntary disclosure with insights into the history and current iterations of the program, including streamlined filing compliance procedures * The challenges with Form 5471, Form 3520, and the penalties associated with non-compliance  * The potential impact of IRS workforce reductions * The future of tax amnesty programs * Practical advice for taxpayers with complex international tax issuesLearn more about David Warner: * Connect with David on LinkedIn: https://www.linkedin.com/in/davidjwarner * Follow Holtz, Slavett & Drabkin, APLC on LinkedIn: https://www.linkedin.com/company/holtz-slavett-&-drabkin * Visit Holtz, Slavett & Drabkin, APLC’s website: https://www.hsdtaxlaw.com * Follow Holtz, Slavett & Drabkin, APLC on Facebook: https://www.facebook.com/HSDTaxLaw * Follow Holtz, Slavett & Drabkin, APLC on X: https://x.com/HSDTaxLawFurther resources: * David’s bio on Holtz, Slavett & Drabkin’s website: https://www.hsdtaxlaw.com/attorneys/david-j-warner * TIGTA report on IRS workforce reductions: https://www.tigta.gov/sites/default/files/reports/2025-05/2025ier017fr.pdf * IRS streamline landing page: https://www.irs.gov/individuals/international-taxpayers/streamlined-filing-compliance-procedures***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: * https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

Give a listen to our first mini episode of The Essential Tax Podcast! In this mini-episode, Mishkin provides individual taxpayers with a great overview of the nuances between IRS Forms W9 and W8-BEN.Resource Links:US Tax Residents:Form W9 - https://www.irs.gov/pub/irs-pdf/fw9.pdfForm 1099-B - https://www.irs.gov/forms-pubs/about-form-1099-bForm 1099-INT - https://www.irs.gov/forms-pubs/about-form-1099-int Non-Resident Aliens:Form W8-BEN - https://www.irs.gov/pub/irs-pdf/fw8ben.pdfForm 1042-S - https://www.irs.gov/forms-pubs/about-form-1042-s   

The Essential Tax Podcast with Mishkin Santa, Episode 29In this episode of The Essential Tax Podcast, Mishkin Santa speaks with International Tax Lawyer, Carlos Gimeno.The rules for tax residency in Spain, including the importance of understanding the 183-day rule and the concept of sporadic absences. He highlights the tax implications for US citizens moving to Spain, such as the necessity to tax worldwide income once they become tax residents. Carlos explains the Beckham Law, a special tax regime aimed at attracting foreign talent and investment, which offers significant tax benefits under specific conditions. Other discussed topics include inheritance and gift tax, the impacts of having US business entities like S corporations and LLCs in Spain, and available visa options such as Digital Nomad and Entrepreneurship Visas. The importance of professional tax planning to ensure compliance and optimize tax liabilities is emphasized throughout the discussion.Tune in for these key takeaways: * The basics of Spanish tax residency addressing concerts for U.S. persons considering relocation to Spain * Spain’s progressive tax rates on income, highlighting the disparities across autonomous regions, which influence tax rates significantly * Spain’s gift and inheritance tax, which can be particularly burdensome due to their high rates and variability across regions * Visa opportunities and challenges for relocating U.S. persons to live and work * The advantages and challenges of the Beckham Law — what you need to know * How Spain treats U.S.-based businesses and advice to reevaluate corporate structures to ensure optimal tax efficiency when transitioning to life and work in Spain * Anticipated changes to Spanish tax practices, in how Spain’s government such as potential restrictions on foreign property purchasesLearn more about Carlos Gimeno: * Connect with Carlos on LinkedIn: http://www.linkedin.com/in/carlos-gimeno-masia * Visit Carlos’ website: http://www.gimenomasia.comFurther resources: * Digital Nomad Visa (Spain): https://www.exteriores.gob.es/Consulados/londres/en/ServiciosConsulares/Paginas/Consular/Digital-Nomad-Visa.aspx * Entrepreneur Visa (Spain): https://www.exteriores.gob.es/Consulados/londres/en/ServiciosConsulares/Paginas/Consular/Visado-para-emprendedor.aspx * Self Employed Work Visa (Spain): https://www.exteriores.gob.es/Consulados/londres/en/ServiciosConsulares/Paginas/Consular/Visado-de-trabajo-por-cuenta-propia.aspx * Beckham Law (Spain): https://en.wikipedia.org/wiki/Beckham_law * US-Spain Income Tax Treaty: https://www.irs.gov/businesses/international-businesses/spain-tax-treaty-documents * US-Spain Totalization Agreement: https://www.ssa.gov/international/Agreement_Pamphlets/spain.html***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: * https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 28In this episode of The Essential Tax Podcast, Mishkin Santa with David Muenzer, a Certified Financial Education Instructor℠.Tune in for these key takeaways:- The importance and process of providing pro bono tax compliance and financial literacy support for victims of human trafficking- David’s personal experiences and initiatives to be involved with the the Human Trafficking Legal Center- The need for more CPA firms to participate in pro bono work to assist vulnerable individuals, especially given the cuts in IRS funding and support services- Key financial advice in areas such as budgeting, credit scores, tax issues, and the complications involved in obtaining taxpayer identification numbers.- The importance of educating both the victims and the volunteers on tax matters, and how building trust and offering personalized in-person support can make a significant impact- A call to action for more professionals to get involved and help create a sense of normalcy and ease for victims of human trafficking by providing essential tax and financial servicesLearn more about David Muenzer: * Connect with David on LinkedIn: www.linkedin.com/in/david-muenzer-11a3a2aa * Visit the Human Trafficking Legal Center’s website: https://htlegalcenter.org * Can you offer pro-bono services? Contact [email protected]***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: * https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 27In this episode of The Essential Tax Podcast, Mishkin Santa welcomes back “frequent flyer” guest, Joshua Smeltzer. Joshua is a Tax and Corporate Lawyer at Gray Reed, a full-service Texas law firm with a comprehensive range of litigation and transactional practice groups. With 150 attorneys, they are equipped to support companies, and high-net-worth individuals and families, based in Texas or operating within its borders.Tune in for these key takeaways: * The challenging environment of cryptocurrency as it relates to tax compliance. * The current regulatory environment — digital asset regulations in 2025, cryptocurrency compliance, and how these fit into the regulatory landscape * The potential messiness of duplicated reporting and outdated IRS systems—topics that every tax professional should be aware of. * Executive orders that complicate the regulatory framework, such as the one from January 31st, mandating the removal of ten regulations for every new one introduced * The controversial role of lobbying in determining which regulations should be preserved or repealed—a reality highlighting the intricate layers involved in tax policy formation * High-profile criminal cases involving cryptocurrency, including the case of "Bitcoin Jesus" and the implications for tax advisors * The critical role of thorough tax advice and warnings of the potential pitfalls of non-compliance, even in cases of simple errors like failing to check a box indicating cryptocurrency activity * Joshua’s optimistic vision for the future of blockchain and digital assets contingent on the establishment of stable coin regulations * The importance of staying informed and proactive in navigating tax obligations, especially amidst an unpredictable regulatory environmentLearn more about Joshua Smeltzer: * Connect with Joshua on LinkedIn: https://www.linkedin.com/in/joshua-smeltzer-bb07714 * Follow Gray Reed on LinkedIn: https://www.linkedin.com/company/grayreed * Read Joshua’s bio on GrayReed.com: https://www.grayreed.com/Our-People/Joshua-D-Smeltzer * Follow Joshua on X: https://x.com/JDSmeltzer * Email: [email protected] resources: * Previous Podcast with Joshua Smeltzer: https://podcasts.apple.com/us/podcast/irs-regulations-loper-bright-and-private-letter/id1754660944?i=1000677344463 * Joshua Smeltzer Forbes Articles:** https://www.forbes.com/sites/joshuasmeltzer** https://www.forbes.com/sites/joshuasmeltzer/2024/12/27/irs-targets-front-end-services-in-defi-reporting-final-regulations** https://www.forbes.com/sites/joshuasmeltzer/2024/12/30/blockchain-advocates-file-suit-challenging-irs-defi-regulations** https://www.forbes.com/sites/joshuasmeltzer/2025/01/27/bitcoin-jesus--maryland-lawyer-high-profile-cryptocurrency-tax-cases * IRS Form 1099-DA: https://www.irs.gov/pub/irs-dft/f1099da--dft.pdf * Executive Order on Regulations: https://www.whitehouse.gov/presidential-actions/2025/01/unleashing-prosperity-through-deregulation * Executive Order on Government Staffing: https://www.whitehouse.gov/presidential-actions/2025/02/implementing-the-presidents-department-of-government-efficiency-cost-efficiency-initiative * February 26th, 2025 Markup by House Ways and Means Committee: https://waysandmeans.house.gov/wp-content/uploads/2025/02/H.J.Res_.-25-Text.pdf***********************************Watch or listen to more episodes of The Essential Tax Podcast: * https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 26In this episode of The Essential Tax Podcast, Mishkin Santa with Dirk Prato & Paolo Pagani, tax professionals from HAGER & PARTNERS, an independent consultancy firm for national and international tax and company law, corporate finance and auditing based in Milan, Bolzano and Rome.Tune in for these key takeaways: * Italian tax residency rules, including conditions for qualifying as a resident and how to break tax residency when moving away from Italy * Italy's inheritance tax, its rates, and the benefits arising from the flat tax regime for high-net-worth individuals relocating to Italy * The practical implications of Italy's strict KYC rules for clients and financial institutions, elucidating the thorough process required for compliance * Various other tax regimes available in Italy, such as the special pension and impatriate regimes * Advice for those navigating international tax obligationsLearn more about Dirk Prato & Paolo Pagani: * Connect with Paolo on LinkedIn: https://www.linkedin.com/in/paolo-pagani-70071120 * Connect with Dirk on LinkedIn: https://www.linkedin.com/in/dirk-prato-0b873a5 * Follow Hager & Partners on LinkedIn: https://www.linkedin.com/company/hager-&-partners * Nexia International Network: https://nexia.com * Hager & Partners: https://www.hager-partners.it/en * Dirk Prato: https://www.hager-partners.it/en/our-advisers/dirk-prato * Paolo Pagani: https://www.hager-partners.it/en/our-advisers/paolo-pagani * US-Italy Tax Treaty: https://www.irs.gov/businesses/international-businesses/italy-tax-treaty-documents * FATCA Podcast: https://podcasts.apple.com/us/podcast/2024-update-on-fatca-irs-matching-campaign-of-forms/id1754660944?i=1000673870629***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: * https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 25In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Amy Vetter, CPA, CGMA, RYT500, CSP, and CEO of The B³ Method Institute. Amy is a transformative leader blending business expertise with mindfulness. As an author and podcast host with extensive experience, she empowers professionals across industries to achieve work-life harmony and purpose-driven success.Tune in for these key takeaways: * The importance of balancing mental and physical health, especially in the high-pressure accounting and tax industries * The B3 Method—business plus balance equals bliss— the foundation of her work. Amy offers insights on how she integrates yoga and meditation into her professional life, coaching others to do the same. * Common challenges faced by tax professionals, especially during the intense tax season, including personal anecdotes from Mishkin’s early days at the IRS and his own struggles with staying balanced, demonstrating the reality many professionals face daily * How distractions and remote work intricacies, like constant interruptions from messaging platforms, can lead to what he calls "busy brain" * Practical strategies for overcoming distractions, with a stress on the importance of setting boundaries and creating focus periods during the day to combat interruptions * The crucial role physical health and regular physical activity plays in maintaining overall well-being * The tax profession is not immune to change. Mishkin addresses The myriad changes on the horizon in the tax profession, from legislative shifts to the evolving IRS landscapeLearn more about Amy Vetter: * Connect with Amy on LinkedIn: https://www.linkedin.com/in/amyvettercpa * Visit Amy’s YouTube channel: https://www.youtube.com/@amyvettercpa * Visit Amy’s website: https://www.amyvetter.com * Follow Amy on Facebook: https://www.facebook.com/AmyVetterCPA * Follow Amy on X: https://x.com/AmyVetterCPA * Follow Amy on Instagram: https://www.instagram.com/amyvettercpa * Follow Amy on TikTok: https://www.tiktok.com/@amyvettercpa * Listen to Amy’s podcast, Breaking Beliefs, on Apple: https://podcasts.apple.com/us/podcast/breaking-beliefs/id1479885723 * Listen to Amy’s podcast on Spotify: https://open.spotify.com/show/0HXKfgMeNNmYFPcwxUiDLq * Watch Amy’s podcast on YouTube: https://www.youtube.com/playlist?list=PLH6w3jKF_jDIzBsV9Q9ktkPQCR6qSKWci * Check out Amy’s book, “Disconnect to Connect: Tap Into the Power Within You to Create the Life You Desire,” “Business, Balance & Bliss: How the B3 Method® Transforms Your Career and Life,” and “Integrative Advisory Services: Expanding Your Accounting Services Beyond the Cloud:” https://www.amyvetter.com/books1 * Sign up for Amy’s 90-day course, Creating Improved Health,Mind & Overall Wellness: https://www.businessbalancebliss.com/courses/90-day-creating-improved-health-mind-overall-wellness * Join the waitlist for Amy’s course, 30-Day Work-Life Harmony & Finding Balance: https://maven.com/theb3methodinstitute/work-life-harmony-30-day***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: * https://www.youtube.com/@TheWolfGroupPC * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 24In this episode of The Essential Tax Podcast, Mishkin Santa with Jason Kadow, Regional Managing Partner and Director of M & A at KMA, a full-service business accounting and financial services firm, dedicated to providing management consulting, real time solutions, accurate and timely financial data, innovative ideas and proactively providing tax advice and compliance services to small businesses.Tune in for these key takeaways: * The significance of private equity in the CPA industry, explaining how it sparks passionate discussions at tax conferences and stressing the due diligence and integration processes * Critical questions firms should address before entering a private equity deal, including motivations, types of models, and cultural fit * The importance of post-acquisition integration, emphasizing the necessity of detailed playbooks and checklists to ensure smooth transitions * Advice for firms contemplating private equity deals, advocating for thoughtful preparation and thorough questioning to ensure long-term success and alignment with company valuesLearn more about Jason Kadow: * Connect with Jason on LinkedIn:https://www.linkedin.com/in/jason-kadow-14b87110* Visit MKA’s website:https://kmaadvisors.com * Email:[email protected]***********************************About The Essential Tax Podcast:In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.Watch or listen to more episodes of The Essential Tax Podcast: *https://www.youtube.com/@TheWolfGroupPC * Apple:https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944 * Spotify:https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOfConnect and learn more from your host, Mishkin Santa: * Connect with Mishkin on LinkedIn:https://www.linkedin.com/in/msanta * Follow The Wolf Group, P.C. on LinkedIn:https://www.linkedin.com/company/the-wolf-group-pc * Read Mishkin’s bio on Wolf Group, P.C.’s website:https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 23 In this episode of The Essential Tax Podcast, Mishkin Santa with Lisa Sparagna, whose journey into mindfulness and meditation spans nearly two decades. Lisa's mission is simple yet profound: to create a nurturing space where each person can reconnect with their own inner wisdom, finding peace and clarity in today's busy world. Tune in for these key takeaways:  * The physical and mental health challenges associated with tax season, including the stress on both clients and tax professionals * Lisa’s journey in mindfulness and meditation, emphasizing the importance of mental and physical well-being  * Practical tips on hydration, nutrition, sleep hygiene, and mindfulness practices to manage stress effectively * The importance of creating daily rituals, including end-of-day shutdowns and mindfulness exercises, to maintain a healthy work-life balance. Learn more about Lisa Sparagna:  * Connect with Lisa on LinkedIn: https://www.linkedin.com/in/lisasparagna  * Visit Lisa’s website: https://www.lisasparagna.com  * Visit Lisa’s YouTube channel: https://www.youtube.com/@lisasparagna7335  * Join Lisa in Ireland for Celtic Calm: Yoga and Meditation in the Irish Countryside: https://truenaturetravels.com/retreats/ireland-lisa-lana-2025/?fbclid=PAZXh0bgNhZW0CMTEAAab3OOPQ3CvVDSqSdgE3dKp-VFRj5J65n-reXsYSNAHUfJTbd2gdB5h7Hdw_aem_vGQT7_R99lUJ8Ib-D3H8uw  * Join Lisa on Monday nights for guided meditations: https://www.lisasparagna.com/classes-and-workshops?fbclid=PAZXh0bgNhZW0CMTEAAaYjq9lQoGyJAPjDqRiNl4WDzDD4XwtiUj6Zea8xtsC1ac2jXBgNsAYeN4k_aem_XuqXQbTGQzTK5tkyqyLTiw Further resources:  * Mental and Physical Health:  **https://www.urmc.rochester.edu/behavioral-health-partners/bhp-blog/april-2018/5-4-3-2-1-coping-technique-for-anxiety.aspx **https://hr.umich.edu/benefits-wellness/health-well-being/mhealthy/faculty-staff-well-being/physical-activity/time-move  * Sleep Schedule: https://www.sleepfoundation.org/sleep-hygiene/how-to-reset-your-sleep-routine  * Practicing Mindfulness: https://www.mayoclinic.org/healthy-lifestyle/consumer-health/in-depth/mindfulness-exercises/art-20046356  * Closing down for the day: https://getlyric.com/strategies-for-the-end-day-office-shutdown-ritual *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 22 In this episode of The Essential Tax Podcast, Mishkin Santa with Dean Sonderegger, Senior Vice President and General Manager, Canada and Research & Learning of Wolters Kluwer Tax and Accounting North America. Tune in for these key takeaways: * The impact of labor shortages in the CPA industry, emphasizing the importance of leveraging technology and non-credentialed employees to improve efficiency and maintain service quality. * The benefits and challenges of outsourcing, both onshore and offshore, highlighting how firms can maintain data protection and compliance while optimizing resources. * The evolution of remote and hybrid work environments, the need for better communication with clients, and the ways firms are adapting to ensure employee growth and client satisfaction. * The role of private equity in the CPA industry, the potential of AI and technology to transform tax practices, and how firms can remain competitive amidst a wave of retiring CPAs. Learn more about Dean Sonderegger:  * Visit the Tax and Accounting page on Wolters Kluwer’s website: https://www.wolterskluwer.com/en/tax-and-accounting  * View Dean’s profile on Wolters Kluwer’s website: https://www.wolterskluwer.com/en/experts/dean-sonderegger  * Connect with Dean on LinkedIn: https://www.linkedin.com/in/deansonderegger  * Follow Wolters Kluwer on LinkedIn: ​​https://www.linkedin.com/company/wolterskluwertaaus  * Visit Wolters Kluwer’s YouTube Channel: https://www.youtube.com/WoltersKluwerTAAUS  * Follow Wolters Kluwer on Facebook: https://www.facebook.com/wolterskluwer *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 21 In this episode of The Essential Tax Podcast, Mishkin Santa features Russell Sullivan, a tax expert, attorney, and shareholder at Brownstein Hyatt Farber Schreck. He is also Chair of Brownstein’s National Tax Policy Group. Tune in for these key takeaways: * The upcoming changes in U.S. tax law, including the potential impacts of the TCJA provisions and expected alterations under the new administration * The complexities of the reconciliation process, the potential extension or modification of significant tax provisions such as the state and local tax (SALT) cap, and the Qualified Business Income Deduction (199A) * The potential for new tax proposals from President Trump, including tariffs on imported goods as a way to offset the cost of tax cuts and unique provisions aimed at supporting working Americans and domestic manufacturing * Insights on international tax issues, emphasizing the challenges and considerations around ending double taxation and changes to FATCA for Americans abroad Learn more about Russ Sullivan:  * Read Russell’s profile on Brownstein’s National Tax Policy Group’s website:  https://www.bhfs.com/people/attorneys/p-s/russell-sullivan  * Connect with Russell on LinkedIn: https://www.linkedin.com/in/russ-sullivan *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 20 In this episode of The Essential Tax Podcast, Mishkin Santa discusses international tax topics involving Canada, Germany, France, Israel, and more!  Tune in for these key takeaways: Tax developments in Canada due to resuming collection activities post-pandemic Tax implications due to political and tax turmoil in Germany and France New developments in the Corporate Transparency Act litigation, the Net Investment Income Tax cases, and recent IRS compliance initiatives Tax-related cases involving notable individuals like Beyoncé New IRS guidelines on digital assets and the enforcement of FBAR penalties Further Resources:  * Canada: https://www.canada.ca/en/taxpayers-ombudsperson/programs/reports-publications/annual-reports/annual-report-2023-2024.html  * Scotland: https://www.gov.scot/publications/scottish-income-tax-2025-2026-factsheet/pages/2  * UAE: https://www.thenationalnews.com/business/economy/2024/12/09/uae-to-introduce-new-15-tax-on-large-multinational-companies  * United Kingdom: https://www.nao.org.uk/wp-content/uploads/2024/11/hm-revenue-customs-overview-2023-24.pdf  * Community Associations Case (FinCEN BOI): https://law.justia.com/cases/federal/district-courts/virginia/vaedce/1:2024cv01597/559803/40  * Texas Top Cop Shop Case (FinCEN BOI): https://law.justia.com/cases/federal/district-courts/texas/txedce/4:2024cv00478/230466/30  * FinCEN BOI Alerts: https://www.fincen.gov/boi  * Paul Bruyea Case (NIIT): https://law.justia.com/cases/federal/district-courts/federal-claims/cofce/1:2023cv00766/47666/31  * Revenue Ruling 2023-14 (Staking): https://www.irs.gov/pub/irs-irbs/irb23-33.pdf  * TIGTA 2023 Report on DAIO: https://www.tigta.gov/sites/default/files/reports/2023-12/2024ier005fr.pdf  * Digital Asset Initiative: https://www.irs.gov/newsroom/irs-adds-two-key-experts-to-focus-on-cryptocurrency-other-digital-assets  * FOIA Lawsuit on Puerto Rico Act 22 Citation: Center for Popular Democracy v. IRS; No. 1:24-cv-0292   * US Exit Tax Expatriate List: https://public-inspection.federalregister.gov/2024-25123.pdf  * IRS Notice 2024-78 (FATCA Relief): https://www.irs.gov/pub/irs-drop/n-24-78.pdf  * Schwarzbaum Case: https://casetext.com/case/united-states-v-schwarzbaum-13  * Saydam Case: https://casetext.com/case/united-states-v-saydam  * Jenner Case: https://casetext.com/case/jenner-v-commr-of-internal-revenue-2  * Adams Case: https://law.justia.com/cases/federal/appellate-courts/cadc/23-1063/23-1063-2024-12-06.html  * Zhang Case: https://dockets.justia.com/docket/california/candce/5:2024cv08210/439751  * IRC 6751: https://www.law.cornell.edu/uscode/text/26/6751  * Mukhi II (5471 Penalty Case): https://www.casemine.com/judgement/us/6742abd0395a1d617fc847fd  * Safdieh (5471 Penalty Case): https://casetext.com/case/safdieh-v-commr-of-internal-revenue  * Beyonce Tax Case: https://casetext.com/case/knowles-carter-v-commr-of-internal-revenue  * TIGTA Report on PPS Fraud: https://www.tigta.gov/sites/default/files/reports/2024-10/2025ier001fr.pdf  * IRS Inflation Adjustments (Rev. Proc. 2024-40): https://www.irs.gov/pub/irs-drop/rp-24-40.pdf  * IRS Pass-Through Compliance Unit: https://www.irs.gov/newsroom/irs-announces-launch-of-pass-through-compliance-unit-in-lbi-new-group-brings-together-teams-of-specialists-from-across-the-agency-to-tackle-large-or-complex-exams  * TIGTA Report on Form 5329: https://www.tigta.gov/reports/audit/millions-taxpayers-took-early-retirement-distributions-some-did-not-pay-additional  * Treas. Reg. 301.6651-1(g) (SFR Penalties): https://www.law.cornell.edu/cfr/text/26/301.6651-1 IRS 2024 1099-K Reporting Announcement: https://www.irs.gov/newsroom/irs-provides-transition-relief-for-third-party-settlement-organizations-form-1099-k-threshold-is-5000-for-calendar-year-2024  * IRS Notice 2024-85: https://www.irs.gov/pub/irs-drop/n-24-85.pdf  * Taxpayer Advocate Zip Code: https://www.irs.gov/pub/foia/ig/tas/tas-13-1124-0006.pdf  * FinCEN Storm Victim:  *  * https://www.fincen.gov/sites/default/files/shared/FBAR-Notice-Hurricane-Helene-508.pdf  *  * https://www.fincen.gov/sites/default/files/shared/FBAR-Notice-Hurricane-Milton-FINAL508.pdf  *  * https://www.fincen.gov/sites/default/files/shared/FBAR-Notice-Hurricane-Debby-508.pdf  *  * https://www.fincen.gov/sites/default/files/shared/FBAR-Notice-Hurricane-Beryl-508.pdf  *  * https://www.fincen.gov/sites/default/files/shared/FBAR-Notice-Hurricane-Francine-508.pdf  * State of New York Matter of Vora Case: https://www.dta.ny.gov/pdf/determinations/830987.det.pdf *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta

The Essential Tax Podcast with Mishkin Santa, Episode 19 In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Randy Johnston, Executive Vice President of K2 Enterprises. Randy teaches technology and acts as consult to technology companies supporting the accounting industry.  Tune in for these key takeaways: Technology's impact on tax, cybersecurity, and blockchain's future role in tax and accounting industries The importance of using password managers, handling sensitive information carefully, and the differences between various AI tools in terms of privacy and utility The challenges of regulating digital assets and cryptocurrencies, noting the IRS's lag in providing up-to-date guidance Practical security measures for remote work, including the use of firewalls and secure networks Potential benefits and risks of AI in tax services Learn more about Randy Johnston: * Connect with Randy on LinkedIn: https://www.linkedin.com/in/rpjohnston * Visit K2 Enterprises’ website: https://www.k2e.com * Visit K2 Enterprises’ YouTube channel: https://www.youtube.com/k2enterprises * Follow K2 Enterprises on Facebook: https://www.facebook.com/K2Enterprises * Follow Randy on X: https://x.com/RPJohnston * Check out Randy’s podcast, “The Accounting Technology Lab”   * * on Spotify: https://open.spotify.com/show/6sGEHM3m2UzCdS1sfLzZ4g  * * on Apple: https://podcasts.apple.com/us/podcast/the-accounting-technology-lab/id1723529167 *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 18 In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Alexandra Britton-Davis, partner at Saffery. Alex advises high-net-worth individuals, trustees, and family offices on their UK tax affairs, estate and succession planning. In particular, she focuses on advising UK-resident non-domiciled individuals and clients with multi-jurisdictional personal or business interests. Tune in for these key takeaways: New UK non-dom tax rules, including the FIG regime, which replaces the remittance basis, providing significant changes for new and existing UK residents The FIG regime, which allows for a four-year tax relief on foreign income and gains without any fee but requires detailed reporting, significantly increasing the complexity of tax returns for affected individuals. The new UK inheritance tax rules reduce the taxable period for non-doms from 15 to 10 years, with a 'tail' period holding individuals liable for global assets tax depending on their years of residence. The impact of the new rules on foreign trusts, highlighting the importance of pre-move planning and professional advice to navigate tax liabilities and avoid double taxation issues Learn more about Guest Name: * Connect with Alexandra on LinkedIn: https://www.linkedin.com/in/alexandra-britton-davis * Read Alexandra’s bio on Saffery’s website: https://www.saffery.com/our-people/alexandra-britton-davis * Follow Saffrey on LinkedIn: https://www.linkedin.com/company/saffery/mycompany Further resources:  * Previous Podcast with Andrea Solana: https://podcasts.apple.com/us/podcast/united-kingdom-tax-law-changes-potential-impact-on/id1754660944?i=1000667168765  * Saffrey Article on the UK Non-Dom Tax Changes: https://www.saffery.com/insights/articles/non-dom-tax-changes-the-fig-regime-cgt-and-income-tax  * Saffrey Article on the UK Inheritance Tax Changes: https://www.saffery.com/insights/articles/inheritance-tax-reforms-for-uk-non-doms  * Saffrey Article on the UK Taxation of Offshore Trust Tax Changes: https://www.saffery.com/insights/articles/taxation-of-offshore-trusts  * Saffrey Article on the Statutory Residency Test in the UK: https://www.saffery.com/insights/publications/statutory-residence-test  * Nexia International Network: https://nexia.com *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 17 In this episode of The Essential Tax Podcast, Mishkin Santa talks about tax updates re: digital assets, FBAR litigation, some IRS news, a brand new 2025 US Social Security agreement, state tax updates from California, Maryland, Massachusetts, New York, plus international tax updates re: Brazil, Australia, Romania & France! Tune to to hear about:  * Notable tax updates from various countries including Australia, Brazil, France, Spain, and Switzerland  * Australia's new treasury law amendment affecting withholding tax on real property   * Brazil's inheritance tax reform and new amnesty program  * France's proposed windfall profit tax to address a $20 billion deficit  * Updates on digital assets, IRS news, and FBAR litigation  * State-specific tax updates for California, D.C., Maryland, Massachusetts, and New York  * The U.S.-Romania social security agreement expected in 2025 Listen to a recent episode of The Essential Tax Podcast with guest Delphine Parigi (US-France) for related information: https://podcasts.apple.com/us/podcast/2024-us-france-cross-border-tax-planning-update-with/id1754660944?i=1000675682853 Further resources:  * US-Romania Totalization Agreement: https://www.whitehouse.gov/briefing-room/presidential-actions/2024/09/12/letter-to-the-speaker-of-the-house-and-president-of-the-senate-on-the-social-security-totalization-agreement-with-romania  * Mirabaud Fine: https://www.finma.ch/en/news/2024/09/20240917-mm-mirabaud  * El Mundo Letter (Shakira): https://www.elmundo.es/papel/firmas/2024/09/03/66d6fcc821efa0e74a8b459d.html  * New York S. 9907 Deduction for Cash Tips: https://www.nysenate.gov/legislation/bills/2023/S9907  * New York Appeals Case, In the Matter of Bryant: https://www.dta.ny.gov/pdf/determinations/830818.det.pdf  * 2024 State of Massachusetts Amnesty Program: https://www.mass.gov/info-details/massachusetts-tax-amnesty-2024  * Kenneth E. Cosgrove v. Comptroller of Maryland: https://www.courts.state.md.us/data/opinions/cosa/2024/1030s23.pdf  * IRS Appeals Group Mailbox: https://www.irs.gov/newsroom/independent-office-of-appeals-secure-messaging-program-office-launches-corporate-group-mailbox-pilot-for-large-business-taxpayers-with-multiple-representatives  * GAO Report on IRS Data Warehouse Security: https://www.gao.gov/products/gao-23-105395  * GAO Report on IRS Modernization Efforts:  https://www.gao.gov/products/gao-24-106566  * GAO Report on IRS Information Returns: https://www.gao.gov/products/gao-24-107028  * Fowler v. Comm'r, 155 T.C. No. 7 (U.S.T.C. Sep. 9, 2020): https://casetext.com/case/fowler-v-commr-14  * IRS Crowdfunding Fact Sheet: https://www.irs.gov/newsroom/irs-reminds-taxpayers-of-important-tax-guidelines-involving-contributions-and-distributions-from-online-crowdfunding  * IRS Announcement of High Income, High Net Worth Audits: https://www.irs.gov/newsroom/us-department-of-the-treasury-irs-announce-1-point-3-billion-recovered-from-high-income-high-wealth-individuals-under-inflation-reduction-act-initiatives  * BFM TV Interview with Bank of France Governor: https://www.bfmtv.com/replay-emissions/l-interview/face-a-face-francois-villeroy-de-galhau-18-09_VN-202409180307.html *********************************** Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 16 In this episode of The Essential Tax Podcast,  Mishkin Santa, J.D., LL.M, talks about potential U.S. tax changes following the 2024 election. He is a Principal at The Wolf Group, focusing on international tax services such as offshore disclosure, pre-immigration planning, and more, drawing on his experience as a former IRS Attorney. Tune in for these key takeaways: * Post-Election Tax Implications: Mishkin Santa highlights the 2024 Republican "red sweep" as pivotal for future tax changes. * Historical Context and TCJA Expiration: Mishkin Santa warns of a 2025 "tax cliff" as key TCJA provisions near expiration. * Proposed Corporate Tax Adjustments: Mishkin Santa discusses reducing corporate tax rates and adding a 15% rate for manufacturers. * Individual Tax Proposals: Mishkin Santa mentions tax cuts, SALT cap changes, and exemptions for certain groups. * International Tax Considerations: Mishkin Santa suggests simplifying taxes for expatriates instead of major overhauls. Further resources:  * Tax Cuts and Jobs Act of 2017:  *  * https://www.law.cornell.edu/wex/tax_cuts_and_jobs_act_of_2017_(tcja)  *  * https://taxpolicycenter.org/briefing-book/how-did-tcja-change-standard-deduction-and-itemized-deductions  * SALT Cap: https://taxfoundation.org/taxedu/glossary/salt-deduction  * Home Mortgage Interest Deduction and Limitation: https://www.nerdwallet.com/article/taxes/mortgage-interest-rate-deduction  * Qualified Business Income Deduction (IRC 199A): https://www.journalofaccountancy.com/issues/2018/may/sec-199a-deduction-for-qualified-business-income.html  * The Byrd Rule: https://en.wikipedia.org/wiki/Reconciliation_(United_States_Congress)  * John Thune: https://en.wikipedia.org/wiki/John_Thune  * Mike Crapo: https://en.wikipedia.org/wiki/Mike_Crapo  * Mike Johnson: https://en.wikipedia.org/wiki/Mike_Johnson  * Jason Smith: https://en.wikipedia.org/wiki/Jason_Smith_(American_politician)  * Exempting Tip Income: https://taxpolicycenter.org/taxvox/exempting-tips-federal-income-tax-would-benefit-very-few-workers  * Exempting Income Tax for Firefighters, Police Officers, Veterans, Active Duty Military: https://budgetlab.yale.edu/news/241028/no-tax-police-officers-firefighters-veterans-and-active-duty-military-basic-background  * Automobile Interest Deduction: https://taxpolicycenter.org/fiscal-facts/how-much-would-auto-loan-interest-deduction-cost  * TCJA Extension Cost: https://www.crfb.org/blogs/tcja-extension-could-add-4-5-trillion-deficits  * President Elect Trump Campaign Tax Proposals: https://taxfoundation.org/research/all/federal/donald-trump-tax-plan-2024/  * Tariffs and Sovereign Wealth Fund:  *  * https://www.forbes.com/sites/antoniopequenoiv/2024/09/05/trump-proposes-sovereign-wealth-fund-for-us-what-to-know-about-the-state-owned-budget/  *  * https://taxpolicycenter.org/taxvox/could-tariffs-help-trump-keep-his-promises  * Death Tax Repeal Act of 2023: https://www.congress.gov/bill/118th-congress/senate-bill/1108  * 2026 US Senate Election Cycle: https://en.wikipedia.org/wiki/2026_United_States_Senate_elections  * American Citizens Abroad: https://www.americansabroad.org/  * US Exit Tax: https://www.irs.gov/individuals/international-taxpayers/expatriation-tax *********************************** Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 15 In this episode of The Essential Tax Podcast, Mishkin Santa speaks with Phil Hodgen, Attorney & Principal at Hodgen Law. Phil provides international (cross border) tax planning for multi-national families and service corporations. Tune in for these key takeaways: - The complexities of FIRPTA and the U.S. exit tax - FIRPTA imposes a 15% withholding tax on the sale of U.S. real property by non-residents, with challenges around obtaining timely 8288B waivers - Effect of the U.S. exit tax on individuals giving up their U.S. citizenship or long-term residency, triggering a mark-to-market tax on worldwide assets - Strategies for managing FIRPTA and the exit tax - Phil’s ongoing work with CalCPA on international tax education and compliance Learn more about Phil Hodgen: - Visit PHil’s website: https://hodgen.com - Email: [email protected] Further resources: - CalCPA International Tax Lunch Series 2024: https://store.calcpa.org/catalog/activity/international-tax-lunch-series-2024---126312 - FIRPTA - IRC 897: https://www.law.cornell.edu/uscode/text/26/897 - Wolf Group FIRPTA: https://thewolfgroup.com/videos/firpta-tax-withholding-challenges-on-the-sale-of-u-s-real-estate-by-g-4s-other-nonresidents - US Exit Tax – IRC 877A:  https://www.law.cornell.edu/uscode/text/26/877A - Wolf Group Exit Tax: https://thewolfgroup.com/videos/us-exit-tax-what-you-need-to-know *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 19 In this episode of The Essential Tax Podcast, Mishkin Santa is joined by Joshua Smeltzer, Tax and Corporate Lawyer at Gray Reed. Gray Reed is a law firm with over 150 attorneys, with a tax controversy and tax litigation practice led by Joshua. They represent clients throughout the U.S., focusing on complex tax issues. Tune in for these key takeaways:  * Loper Bright and the Chevron Doctrine – A detailed breakdown of how the Supreme Court's decision in Loper Bright impacts agency deference, especially the IRS, and why it changes the tax litigation landscape.  * Administrative Procedures Act – How the APA influences tax guidance and how recent challenges, such as in the digital asset space, highlight the IRS's need to follow formal procedures.  * Private Letter Rulings (PLRs) – A comprehensive look into the purpose, costs, and risks of seeking a PLR, including why they may or may not be the best strategy for a taxpayer.  * Tax Controversy Strategy – The importance of understanding IRS processes and leveraging litigation hazards in negotiations for favorable outcomes.  * Future Tax Changes – Insight into the implications of the TCJA sunset and how upcoming tax reforms may need to address the complexities brought to light by cases like Loper Bright. Learn more about Joshua Smeltzer:  * Connect with Joshua on LinkedIn: https://www.linkedin.com/in/joshua-smeltzer-bb07714/  * Follow Gray  Reed on LinkedIn: https://www.linkedin.com/company/grayreed  * Visit Joshua’s profile on Gray Reed’s Website: https://www.grayreed.com/Our-People/Joshua-D-Smeltzer   * Follow Joshua on X: https://x.com/jdsmeltzer Additional Resources:   * Corporate Tax Blog, Dollars & Sense - https://dollarsandsense.grayreed.com  * Blog post, “Gray Reed Partners Submit Comments on Proposed Treasury Regulations” - https://dollarsandsense.grayreed.com/2024/08/gray-reed-partners-submit-comments-on-proposed-treasury-regulations  * Loper Bright Supreme Court Case - https://www.supremecourt.gov/opinions/23pdf/22-451_7m58.pdf  * Chevron Deference - https://www.law.cornell.edu/wex/chevron_deference  * Skidmore Deference - https://www.law.cornell.edu/supremecourt/text/323/134  * Administrative Procedures Act - https://www.law.cornell.edu/wex/administrative_procedure_act  * Stop Corporate Capture Act - https://www.congress.gov/bill/118th-congress/house-bill/1507  * IRS Private Letter Ruling - https://www.irs.gov/faqs/irs-procedures/code-revenue-procedures-regulations-letter-rulings/code-revenue-procedures-regulations-letter-rulings  * Maryland Private Letter Ruling - https://marylandtaxes.gov/legal-pubs/tech-bulletins/misc/tb-44.pdf *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 13 In this episode of The Essential Tax Podcast, Mishkin Santa speaks with David Pitts, Actuary and Independent Practitioner. David brings his wealth of experience in actuarial science, focusing on valuation work related to U.S. exit taxes, pensions, and deferred compensation plans. He has a background in mathematics and has worked extensively with retirement plans, class action lawsuits, and more. David explains his work with organizations like the World Bank and IMF, helping expatriates navigate the complexities of the U.S. exit tax. He also provides insights on actuarial calculations that determine the tax implications for those relinquishing U.S. citizenship or green card status. Tune in for these key takeaways:  * Understanding the U.S. exit tax, including the gross present value and net worth tests  * The actuarial approach to valuing defined benefit plans for expatriates  * Key tax exclusions for foreign service and after-tax contributions  * The critical role of actuaries in calculating net present value for exit tax planning  * Real-world examples of how actuarial science applies to international retirement plans Learn more about David Pitts:  * LinkedIn Profile: https://www.linkedin.com/in/davidgpittsfsa *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 13 In this episode of The Essential Tax Podcast, Mishkin Santa talks with Delphine Parigi, a tax lawyer and founder of DPZ Avocats, based in Nice, France. With a master’s degree in International Tax from La Sorbonne and business school HEC, Delphine brings over a decade of experience in advising international groups and high-net-worth individuals on cross-border tax matters. Her boutique firm specializes in assisting clients with French and international tax laws, particularly those facing U.S.-France tax complexities. Tune in for these key takeaways:  * The importance of pre-immigration tax planning for U.S. persons moving to France  * Common cross-border tax issues, such as double taxation on U.S. entities and trusts in France  * Navigating France's real estate tax regime, including the wealth tax and the use of SCI structures  * Understanding how the U.S.-France tax treaty now treats French social taxes (CSG, CRDS) as creditable for U.S. taxpayers  * France’s complex inheritance and gift tax system and planning strategies to reduce tax burdens Learn more about Delphine Parigi:  * Connect with Delphine on LinkedIn: https://www.linkedin.com/in/delphine-parigi  * Follow DPZ Avocats on LinkedIn: https://www.linkedin.com/company/dpz-avocats/posts  * Website: http://www.dpz-avocats.com  Resources:  * Delphine Parigi & DPZ Avocats: http://www.dpz-avocats.com/en/equipe.html  * Nexia International Network: https://nexia.com  * US-France FATCA Agreement: https://home.treasury.gov/system/files/131/BilateralAgreementUSFranceImplementFATCA.pdf  * US-France Income Tax Treaty: https://www.irs.gov/businesses/international-businesses/france-tax-treaty-documents  * US-France Estate Tax Treaty: https://franceintheus.org/IMG/pdf/french_us_estate_tax_treaty.pdf  * IRS Practice Unit on French Foreign Tax Credits: https://www.irs.gov/pub/fatca/int_practice_units/ftc_t_010_01_01.pdf *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 11 Watch or listen to this episode of The Essential Tax Podcast when host Mishkin Santa sits down with tax expert Conrad Meyer to unravel the complexities of U.S. and South African cross-border taxation. Conrad is a seasoned tax professional and auditor based in South Africa. Conrad brings a wealth of knowledge from the auditing and accounting practice, Nexia Cape Town, where, as a Partner, he has helped clients navigate the complexities of tax residency, international compliance, and financial migration. Key Takeaways:  * Understanding Tax Residency: Conrad discusses the nuances of establishing and ceasing tax residency in South Africa, highlighting the significant tax implications for those moving internationally.  * Impacts of Recent Tax Law Changes: Recent changes in South African tax law, especially those affecting expatriates and residents with foreign incomes, are explored. Conrad emphasizes the importance of proper exit strategies to avoid dual taxation.  * Financial Migration and Compliance: The process and importance of financial emigration from South Africa are examined, along with strategies for managing pensions, provident funds, and retirement annuities in compliance with both South African and international tax laws.  * Practical Tips for Tax Planning: Conrad offers practical advice for those moving to or from South Africa, including the critical steps to take for ensuring tax compliance and optimizing financial transitions. Learn more about Conrad Meyer:  * Connect with Conrad on LinkedIn: https://www.linkedin.com/in/conrad-meyer-05888114   * Visit Nexia Cape Town’s Website: http://www.nexiacapetown.com   * Email: [email protected] Resources:  * SARS link to foreign income and exemptions: https://www.sars.gov.za/individuals/tax-during-all-life-stages-and-events/foreign-employment-income-exemption  * Nexia Cape Town Budget Booklet: https://www.nexiacapetown.com/insights/nexia-publications  * South Africa Know Your Client Rules: https://www.kychub.com/blog/kyc-requirements-south-africa/#:~:text=This%20act%20plays%20a%20pivotal,of%20address%20(utility%20 bills)  * South African Revenue Service: https://www.sars.gov.za South Africa OECD Grey list: *https://www.reuters.com/business/finance/south-africa-should-get-off-global-regulators-grey-list-2025-says-central-bank-2024-03-13 *https://www.fatf-gafi.org/en/countries/black-and-grey-lists.html *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 10 In this episode of The Essential Tax Podcast, Mishkin Santa dives deep into the intricacies of the Foreign Account Tax Compliance Act (FATCA), exploring its impact and requirements. This masterclass session is crucial for anyone dealing with international tax obligations, particularly those with financial interests overseas. Tune in for these key takeaways:  * Understanding the significance and implications of FATCA for individuals and foreign financial institutions.  * Detailed explanation of essential FATCA forms such as Form 8966 and Form 8938, including who needs to file them and the consequences of non-compliance.  * Practical advice on avoiding common pitfalls in FATCA compliance and how to respond to IRS notices regarding foreign accounts.  * Insights into the international scope of FATCA, including how it affects U.S. taxpayers living abroad and the specific requirements they face.  * Strategies for effective management and reporting of foreign financial assets to ensure compliance and avoid hefty penalties. Resources:  * FATCA: https://www.govinfo.gov/content/pkg/PLAW-111publ147/pdf/PLAW-111publ147.pdf#page=27  * IRS Form 8938: https://www.irs.gov/pub/irs-pdf/f8938.pdf  * Instructions to Form 8938: https://www.irs.gov/pub/irs-pdf/i8938.pdf  * Form 8966: https://www.irs.gov/pub/irs-pdf/f8966.pdf  * Instructions to Form 8966: https://www.irs.gov/pub/irs-pdf/i8966.pdf  * Treasury Regulation 1.1471-4: https://www.law.cornell.edu/cfr/text/26/1.1471-4  * Treasury Regulation 1.1471-5: https://www.law.cornell.edu/cfr/text/26/1.1471-5  * GAO Report from April 2019 on Foreign Asset Reporting: https://www.gao.gov/assets/700/698581.pdf *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

The Essential Tax Podcast with Mishkin Santa, Episode 09 In this episode of The Essential Tax Podcast, Mishkin Santa covers various important tax developments for August 2024. This episode dives into recent changes in international tax laws across several countries, including Canada, the Cayman Islands, Italy, and New Zealand. Mishkin also discusses the latest IRS updates on digital assets and the implementation of new tax forms related to cryptocurrencies. The podcast provides an in-depth analysis of current FBAR litigation cases and updates on FinCEN's new reporting requirements, offering valuable insights for both tax professionals and individuals navigating complex tax scenarios. Tune in for these key takeaways:  * Updates on International Tax Law: Learn about the significant tax changes in Canada, Cayman Islands, Italy, and New Zealand, and how they might impact global taxpayers.  * Digital Assets and IRS Guidelines: Get the latest on IRS regulations for cryptocurrencies, including the new form 1099 DA for digital asset transactions.  * FBAR Litigation and Penalties: Understand the recent developments in FBAR litigation and what it means for individuals with foreign financial assets.  * FinCEN Reporting Requirements: Discover the new FinCEN BOI requirements and their implications for U.S. businesses.  * Efficient Tax Practices: Gain insights into handling complex tax issues effectively, with examples from current legal cases and IRS updates. *********************************** Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa

In an increasingly interconnected world, Athletes, Entertainers and Influencers often generate income across borders, presenting unique tax challenges. This webinar is tailored for the professionals advising clients with international earnings. Topics include: * Key differences in income, withholding, and other related tax obligations across the USA, Europe and India * Understanding residency, application of income tax treaties, and cross-border taxation rules for globally mobile clients * Strategies for managing global tax efficiency liabilities, and compliance issues including international informational reporting, and mitigation of penalty traps Resource links: * IRS FAQ on Swag Bags: https://www.irs.gov/pub/irs-news/ir-06-128.pdf * Derrick Henry $250,000 Diet: https://www.essentiallysports.com/nfl-active-news-after-two-fifty-thousand-diet-went-viral-ravens-derrick-henry-reveals-painful-truth-about-his-eating-habits/ * Nano-Influencers Article: https://hbr.org/2024/09/when-it-comes-to-influencers-smaller-can-be-better * US Tax Treaty Table 1 - Tax Rates on Income other Personal Services: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-1.pdf * US Tax Treaty Table 2 – Compensation for Personal Services: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-2.pdf * US Tax Treaty Table 3 – List of US Tax Treaties: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-3.pdf * US Tax Treaty Table 4 – Limitation on Benefits: https://www.irs.gov/pub/irs-lbi/Tax_Treaty_Table_4.pdf * US Totalization or Social Security Agreements: https://www.irs.gov/individuals/international-taxpayers/totalization-agreements * IRS Audit Technique Guide for Hobby Losses: https://www.irs.gov/pub/irs-pdf/p5558.pdf * The Money Game: https://www.amazon.com/The-Money-Game-Season-1/dp/B0D7KT8VQM * Name, Image, Likeness (NIL) Taxation: https://www.taxpayeradvocate.irs.gov/get-help/general/nil/ * Name, Image, Likeness (NIL) Agreements: https://www.taxpayeradvocate.irs.gov/news/nta-blog/nta-blog-student-athletes-involved-in-nil-agreements-should-be-aware-of-their-tax-obligations/2023/12/ * Wolf Group Blog Post on Taxation of Cross-Fit Athletes: https://thewolfgroup.com/blog/the-2018-crossfit-games-offer-more-than-a-taxing-workout-they-illustrate-how-new-u-s-tax-law-%C2%A7199a-affects-non-resident-aliens/

The Essential Tax Podcast with Mishkin Santa, Episode 08 In this episode of The Essential Tax Podcast, Mishkin Santa speaks with David Tzimenakis, one of the managing directors at The US Tax Team New Zealand. David brings his expertise in U.S. tax issues for expatriates and covers a wide range of topics from transitional residency rules in New Zealand to the complex world of tax implications for foreign investments. The US Tax Team is a New Zealand-based, US tax practice. They assist US citizens, green card holders, and others with a link to the US, with their US tax obligations. This includes tax consultancy and tax return preparation. Tune in for these key takeaways:  * Insight into the New Zealand and U.S. tax systems, focusing on the unique challenges faced by U.S. expatriates in New Zealand  * Detailed discussion on specific tax rules like the FIF (Foreign Investment Fund) rules and the PIE (Portfolio Investment Entity) tax rules in New Zealand  * Advice on pre-migration tax planning, the importance of understanding transitional residency, and the potential tax traps for new residents  * Exploration of international tax comparison, particularly the treatment of imputation credits in New Zealand and their contrast with the U.S. tax system Learn more about  David Tzimenakis:  * LinkedIn Profile: https://www.linkedin.com/in/david-tzimenakis-668706119/   * Visit The US Tax Team’s website: https://www.usatax.nz Further Resources:   * The US Tax Team – KiwiSaver explainer - https://www.usatax.nz/knowledge-centre/kiwisaver-trust-reporting-on-form-3520-and-3520a  * The US Tax Team – Tips for moving to NZ - https://www.usatax.nz/knowledge-centre/5-top-tax-tips-for-us-citizens-moving-to-new-zealand  * PFIC – A brokerage example - https://www.usatax.nz/knowledge-centre/form-8621-pfics-sharesies-us-tax-trap  * The US Tax Team – Contact Us - https://www.usatax.nz/contact-8  * Understanding FIF Taxation - https://www.johnstonlaw.nz/post/navigating-the-challenges-understanding-the-application-of-the-fif-rules-in-new-zealand  * Transitional residency in NZ - https://www.johnstonlaw.nz/post/get-your-tax-residency-right *********************************** About The Essential Tax Podcast: In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax, guiding you through a range of tax topics in a way that cuts through the jargon, acronyms, and complexities that make your eyes glaze over, so that you can understand the latest developments and how they relate to you. Watch or listen to more episodes of The Essential Tax Podcast:  * https://www.youtube.com/@TheWolfGroupPC  * Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944  * Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf Connect and learn more from your host, Mishkin Santa:  * Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta  * Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc  * Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa