Dive into our comprehensive Tax Sherpa Office Hours session led by Neal McSpadden, where we discuss a wide range of tax topics. This webinar, held on January 16, 2024, covers critical areas of tax advisory for small businesses, solopreneurs, and 1099 contractors. We address questions on rental property tax implications, the nuances of life insurance as a business expense, and the complexities of gift and inheritance taxes. Join us as we unravel these topics, providing expert guidance to navigate your tax concerns. Chapters: 1. [00:00:00] Introduction and Overview 2. [00:09:11] Tax Implications of Building and Renting an ADU 3. [00:19:29] Understanding Constructive Receipt in Property Sales 4. [00:22:02] Beneficial Interest Reporting: Corporate Transparency Act 5. [00:34:10] Life Insurance as a Business Expense: Tax Perspective 6. [00:40:00] Tax Implications of Receiving Inheritance or Gifts 7. [00:41:00] Estimated Tax Payments Explained **Speaker Bio:** Neal McSpadden, founder of Tax Sherpa, is an experienced tax advisor and entrepreneur. After overcoming personal tax challenges, Neal has been involved in over 50,000 tax returns, offering Wall Street-style tax planning for small business owners and solopreneurs. Join us for more insightful discussions in our next live session every Tuesday at 6 PM Eastern. Sign up at https://taxsherpa.com/live. Connect with our community for additional resources in our free LinkedIn group at https://taxsherpa.com/group. ... https://www.youtube.com/watch?v=tF6_7jEegwQ

For full post with images go to: https://leofinance.io/@nealmcspadden/tax-sherpa-stories-episode-1-the-time-i-owed-usd1-000-000-to-the-irs Welcome to the first episode of Tax Sherpa Stories, where I share with you stories from the front lines of the tax world, current events that affect tax, finance, and markets, and a whole lot more. On this episode I share my personal story with taxes and how I owed the IRS over $1,000,000 and then went on to pay none of it. Despite the stress that all caused, it led me to where I am today. In the live Q&A portion, we went over some of Biden's proposed tax policy changes and how that might affect things. Nothing is set in stone and he's not even in office until tomorrow, but these are things we all need to stay aware of. #taxsherpastories #taxes #irs #smallbusiness ... https://www.youtube.com/watch?v=RWCTZ5aNjeQ