Three successful accounting firm owners share their journeys from small practices to achieving 10X revenue growth. Through candid conversations about hiring strategies, systemization, and community support, these Padgett franchise owners reveal practical insights for scaling an accounting practice. Their experiences highlight how strategic hiring, building scalable systems, and embracing a growth mindset transformed their firms from six-figure to multi-million dollar enterprises.

Webinar Speakers
Jeff Phillips - https://www.linkedin.com/in/jeffaccountingfly

Janet Kaup - https://www.linkedin.com/in/janet-kaup-2238643

Jeff Darley - https://www.linkedin.com/in/jeff-darley-77839b2

Tom Friedel - https://www.linkedin.com/in/tom-friedel-cpa-ab71435

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Annie and Roger discuss crucial tax updates as 2024 draws to a close, including the recent injunction against beneficial ownership reporting requirements, the evolving landscape of ERC claims processing, and changes to the clean vehicle credit program. They examine how the recent election results might impact tax policy, particularly regarding the Tax Cuts and Jobs Act provisions set to expire. They also provide practical guidance for tax practitioners preparing for the 2025 filing season, addressing important changes to 1099-K reporting thresholds and IP PIN requirements.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

• (00:00) - Federal Tax Updates Episode 44
• (02:35) - 2025 Tax Season Preparation
• (05:12) - Tax Rates and Deductions for 2024
• (09:17) - Business Tax Considerations
• (11:40) - Post-Election Tax Policy Changes
• (17:16) - IRS Updates and New Policies
• (20:52) - 1099-K Reporting Changes
• (24:35) - Clean Vehicle Credit
• (26:46) - Understanding the Dealer Credit Loophole
• (27:39) - Navigating EV Tax Credits
• (31:01) - IRS Processing and Challenges
• (36:35) - Potential Changes in IRS Leadership
• (43:17) - Beneficial Ownership Reporting Injunction
• (49:12) - Conclusion and Final Thoughts

Connect with the Roger and Annie on LinkedIn
https://www.linkedin.com/in/rogerharrispbs/
https://www.linkedin.com/in/annie-schwab-852418261/

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This podcast is a production of the Earmark Media

Capitol Hill insider Thad Inge joins Roger Harris to unpack how the election results could reshape major tax policy decisions in 2024 and beyond. The discussion explores the potential fate of expiring Trump-era tax cuts, the future of IRS funding, and the complex political dynamics that will influence tax reform under Republican control. Thad provides unique insights into the budget reconciliation process, key congressional players, and offers tax practitioners valuable context on potential legislative changes and political realities that could affect their practice and clients.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

• (00:00) - Thad Inge Joins Roger for Federal Tax Updates
• (01:57) - Election Impact on Tax Policy
• (05:03) - Republican Strategies and Budget Reconciliation
• (09:23) - Deficit Debates and Revenue Raising
• (20:42) - Key Players in Tax Reform in Congress
• (26:21) - IRS Funding and Future Outlook
• (32:58) - Commissioner Werfel's Tenure and Challenges
• (39:16) - Beneficial Ownership Reporting
• (47:58) - Senate Office Transitions
• (52:28) - Conclusion and Future Outlook

Connect with Thad Inge
LinkedIn: https://www.linkedin.com/in/thad-inge-9342155
Website: https://www.vsadc.com/

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
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Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.