https://simplecast.com The Cleared Diagnostics Tax CPA Success Show As you're scaling your firm to be more Virtual CFO driven, you still want to provide your clients with the most up to date tax advice, right? Do you feel it’s getting harder and harder to stay on top of it all? If so, tune into The Cleared Diagnostics Tax CPA Success Show, where Dave Danic, Director of Tax Services at Summit CPA Group, now A Division of Anders CPAs + Advisors, shares what’s going on in the tax world. Learn from Dave, host Tom Wadelton, and other special guests as they share updates on current tax law and operational stories from the tax practice of the leading Virtual CFO firm in North America. en Wed, 2 Mar 2022 00:22:49 +0000 Tue, 7 Jun 2022 14:34:45 +0000 https://the-cleared-diagnostics-tax-cpa-success-show.simplecast.com The Cleared Diagnostics Tax CPA Success Show https://image.simplecastcdn.com/images/8d1f2af0-a347-4352-a286-1a56040e3a6a/b763c825-1266-49ed-9b6d-a0a94dfedf21/3000x3000/the-cleared-diagnostics-tax.jpg?aid=rss_feed https://the-cleared-diagnostics-tax-cpa-success-show.simplecast.com episodic As you're scaling your firm to be more Virtual CFO driven, you still want to provide your clients with the most up to date tax advice, right? Do you feel it’s getting harder and harder to stay on top of it all? If so, tune into The Cleared Diagnostics Tax CPA Success Show, where Dave Danic, Director of Tax Services at Summit CPA Group, now A Division of Anders CPAs + Advisors, shares what’s going on in the tax world. Learn from Dave, host Tom Wadelton, and other special guests as they share updates on current tax law and operational stories from the tax practice of the leading Virtual CFO firm in North America. Summit CPA Group no https://feeds.simplecast.com/Js1d0g8A audit, cfo, cpa, tax, taxation, taxes Summit CPA cathy@summitcpa.net 23cd7417-ef44-44aa-a1f9-cc5a9bfad318 Employee Retention Credit with Randy Crabtree "It's not everybody qualifies and I'll say that a hundred times today. Maybe not a hundred, because I hear people being promised, these credits that don't exist. Now, that being said, there's plenty of taxpayers that qualify for this that have not taken advantage of it yet" - Randy Crabtree

The finer details of this episode :

  • Who is Randy Crabtree and what does Tri-Merit Specialty Tax Professionals do?
  • What is the Employee Retention Credit (ERC)?
  • How do you qualify for an ERC?

Episode resources

]]> Wed, 2 Mar 2022 00:22:49 +0000 cathy@summitcpa.net (Summit CPA ) https://the-cleared-diagnostics-tax-cpa-success-show.simplecast.com/episodes/employee-retention-credit-with-randy-crabtree-dU4KkyIf "It's not everybody qualifies and I'll say that a hundred times today. Maybe not a hundred, because I hear people being promised, these credits that don't exist. Now, that being said, there's plenty of taxpayers that qualify for this that have not taken advantage of it yet" - Randy Crabtree

The finer details of this episode :

  • Who is Randy Crabtree and what does Tri-Merit Specialty Tax Professionals do?
  • What is the Employee Retention Credit (ERC)?
  • How do you qualify for an ERC?

Episode resources

]]> Employee Retention Credit with Randy Crabtree Summit CPA 00:21:41 In this episode, Tom Wadelton, our host and Summit CPA Group's virtual CFO along with Dave Danic, our Director of Tax; sit down with Randy Crabtree, co-founder and partner of Tri-Merit Specialty Tax Professionals to talk about Employee Retention Credit (ERC).As a specialist in this area, Randy shares the nitty gritty of this credit and how your business can qualify. In this episode, Tom Wadelton, our host and Summit CPA Group's virtual CFO along with Dave Danic, our Director of Tax; sit down with Randy Crabtree, co-founder and partner of Tri-Merit Specialty Tax Professionals to talk about Employee Retention Credit (ERC).As a specialist in this area, Randy shares the nitty gritty of this credit and how your business can qualify. no full 5 6eb5822b-adef-413f-a79c-34c80ac19871 R&D Tax Credit "Sometimes CPAs get a little nervous or apprehensive because they're fully understanding what the research credit is about, how to claim it. So they're skeptical about how they want to prepare it or present it on return... So having another (party who) specializes in research credit services is very helpful because we're able to help the CPAs help their clients, which is basically the same goal that we all have in mind. Trying to get bigger amounts of credits for our clients, but we work together. So there's really no competition." - Jen Bolton

The finer details of this episode :

  • What is an R&D Tax Credit?
  • What are the new rules that applies to the R&D Tax Credit?
  • How do you know what qualifies for an R&D Tax Credit?
  • Advantages of partnering with firms like Leyton, that specialize in R&D Tax Credit

Episode resources

]]> Tue, 18 Jan 2022 14:00:00 +0000 cathy@summitcpa.net (Summit CPA ) https://the-cleared-diagnostics-tax-cpa-success-show.simplecast.com/episodes/rd-tax-credit-OJfXbUM3 "Sometimes CPAs get a little nervous or apprehensive because they're fully understanding what the research credit is about, how to claim it. So they're skeptical about how they want to prepare it or present it on return... So having another (party who) specializes in research credit services is very helpful because we're able to help the CPAs help their clients, which is basically the same goal that we all have in mind. Trying to get bigger amounts of credits for our clients, but we work together. So there's really no competition." - Jen Bolton

The finer details of this episode :

  • What is an R&D Tax Credit?
  • What are the new rules that applies to the R&D Tax Credit?
  • How do you know what qualifies for an R&D Tax Credit?
  • Advantages of partnering with firms like Leyton, that specialize in R&D Tax Credit

Episode resources

]]> R&D Tax Credit Summit CPA 00:33:51 Seven years ago, Summit CPA had a client who asked about R&D tax credit, and as we've grown we received more inquiries on how to claim and who qualifies for it. At that time we didn't have much exposure to R&D tax credit, so we did our best to learn about this credit and while we thought we did a good job we realized there were still a lot for us to learn. In this podcast, we sit down with our host Tom Wadelton and Summit CPA Group's virtual CFO, our Director of Tax, Dave Danic, Jennifer Bolton and Maggie Crowley, Senior Tax Manager Consultant and Senior R&D Tax Credit Consultant respectively from Leyton to discuss about R&D Tax Credit and how Summit CPA Group partnered and with Leyton to assist and help serve our clients better in this aspect. Seven years ago, Summit CPA had a client who asked about R&D tax credit, and as we've grown we received more inquiries on how to claim and who qualifies for it. At that time we didn't have much exposure to R&D tax credit, so we did our best to learn about this credit and while we thought we did a good job we realized there were still a lot for us to learn. In this podcast, we sit down with our host Tom Wadelton and Summit CPA Group's virtual CFO, our Director of Tax, Dave Danic, Jennifer Bolton and Maggie Crowley, Senior Tax Manager Consultant and Senior R&D Tax Credit Consultant respectively from Leyton to discuss about R&D Tax Credit and how Summit CPA Group partnered and with Leyton to assist and help serve our clients better in this aspect. no full 4 5b1f529b-3d9f-4ff6-b52e-58540206cd0c Backdoor Roth IRA "And that's what financial planning is all about. (And) My strategy is little bit here, little bit there, you know, if, if everyone just had a strategy to - say, 'I'm going to eliminate a hundred thousand dollars of taxes', everyone would do it. Now, It's just taking little strategies and piecing them together to build wealth and save tax."- Dave Danic

The finer details of this episode :

  • What is the BackDoor Roth IRA?
  • How does this  impact our taxes?
  • What should you do to make the most of the BackDoor Roth IRA?

Episode resources

]]> Tue, 4 Jan 2022 21:59:26 +0000 cathy@summitcpa.net (Summit CPA ) https://the-cleared-diagnostics-tax-cpa-success-show.simplecast.com/episodes/backdoor-roth-ira-Q5qghdE9 "And that's what financial planning is all about. (And) My strategy is little bit here, little bit there, you know, if, if everyone just had a strategy to - say, 'I'm going to eliminate a hundred thousand dollars of taxes', everyone would do it. Now, It's just taking little strategies and piecing them together to build wealth and save tax."- Dave Danic

The finer details of this episode :

  • What is the BackDoor Roth IRA?
  • How does this  impact our taxes?
  • What should you do to make the most of the BackDoor Roth IRA?

Episode resources

]]> Backdoor Roth IRA Summit CPA 00:12:33 In this podcast, we sit down with our virtual CFO and host Tom Wadelton and Dave Danic, our Director of Tax to discuss about the BackDoor Roth IRA. Discussing what it is all about, how it can help companies and their tax filing, and carefully outlining the implications when utilized. In this podcast, we sit down with our virtual CFO and host Tom Wadelton and Dave Danic, our Director of Tax to discuss about the BackDoor Roth IRA. Discussing what it is all about, how it can help companies and their tax filing, and carefully outlining the implications when utilized. no full 3 c8296047-bebb-4e71-8a91-2cb76eedd547 New and Proposed Tax Bills " What we're learning through this whole process is that using the tax code to impact programs that Congress wants is the easiest way to do it for them. For your friendly tax accountant, it's crazy because there's not a lot of consistency, but it certainly makes our lives more interesting."- Dave Danic

The finer details of this episode :

  • What is the Infrastructure Law?
  • How does this newly passed law impact our taxes?
  • What should expect in the years to come in terms of cryptocurrency under this law?
  • What is the Build Back Better bill?
  • How can we plan around this? 

Episode resources

]]> Tue, 7 Dec 2021 21:56:39 +0000 cathy@summitcpa.net (Summit CPA ) https://the-cleared-diagnostics-tax-cpa-success-show.simplecast.com/episodes/new-and-proposed-tax-bills-ETGL0bpI " What we're learning through this whole process is that using the tax code to impact programs that Congress wants is the easiest way to do it for them. For your friendly tax accountant, it's crazy because there's not a lot of consistency, but it certainly makes our lives more interesting."- Dave Danic

The finer details of this episode :

  • What is the Infrastructure Law?
  • How does this newly passed law impact our taxes?
  • What should expect in the years to come in terms of cryptocurrency under this law?
  • What is the Build Back Better bill?
  • How can we plan around this? 

Episode resources

]]> New and Proposed Tax Bills Summit CPA 00:25:52 Have you heard or read about the recently passed and proposed tax bills? In this podcast, we sit down with our host Tom Wadelton and Dave Danic, our Director of Tax to discuss about the new Infrastructure Law and the Build Back Better bill (BBB). Diving deeper into the facets it may impact taxes from the perspective of business owners and individuals. Have you heard or read about the recently passed and proposed tax bills? In this podcast, we sit down with our host Tom Wadelton and Dave Danic, our Director of Tax to discuss about the new Infrastructure Law and the Build Back Better bill (BBB). Diving deeper into the facets it may impact taxes from the perspective of business owners and individuals. no full 2 7f5b5c38-850d-48ba-8caf-5d35f8de8e6a Meals and Entertainment Deductions "We're a CPA firm and we still have to look at this stuff, as we were talking about our retreat - 'How does our retreat fit within the tax law?' We'll have to deliberate internally to see how we want to treat some of these items." - Dave Danic

The finer details of this episode :

  • Getting to know Dave Danic and Tom Wadelton 
  • Learning about the objective of the Cleared Diagnostic Tax CPA Podcast
  • Understanding the new tax laws on meals and entertainment deductions
  • Defining what can be considered meals and entertainment deductions
  • Defining terms and sharing examples 

Episode resources

]]> Wed, 27 Oct 2021 00:52:17 +0000 cathy@summitcpa.net (Summit CPA ) https://the-cleared-diagnostics-tax-cpa-success-show.simplecast.com/episodes/meals-and-entertainment-deductions-pSUIeDhb "We're a CPA firm and we still have to look at this stuff, as we were talking about our retreat - 'How does our retreat fit within the tax law?' We'll have to deliberate internally to see how we want to treat some of these items." - Dave Danic

The finer details of this episode :

  • Getting to know Dave Danic and Tom Wadelton 
  • Learning about the objective of the Cleared Diagnostic Tax CPA Podcast
  • Understanding the new tax laws on meals and entertainment deductions
  • Defining what can be considered meals and entertainment deductions
  • Defining terms and sharing examples 

Episode resources

]]> Meals and Entertainment Deductions Summit CPA 00:26:32 Welcome to our very first Cleared Diagnostics Tax CPA Podcast! Last week Summit CPA Group spent a great time together in Las Vegas for their All Team Retreat experience, and now it seems just about right to discuss an important item that many CPAs and CPA firm owners ask..."Can I deduct this?". In this podcast, we sit down with our host Tom Wadelton and Dave Danic, our Director of Tax to discuss about meals and entertainment deductions. Welcome to our very first Cleared Diagnostics Tax CPA Podcast! Last week Summit CPA Group spent a great time together in Las Vegas for their All Team Retreat experience, and now it seems just about right to discuss an important item that many CPAs and CPA firm owners ask..."Can I deduct this?". In this podcast, we sit down with our host Tom Wadelton and Dave Danic, our Director of Tax to discuss about meals and entertainment deductions. no full 1