Accounting for Tomorrow

Josh Tyree and Robert Shappee
  • 5.0 (2)
  • ENTREPRENEURSHIP
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Accounting for Tomorrow is an accounting and advisory services podcast for community leaders with a passion for change, who are ready to look past the numbers and ensure that today’s planning efforts create success for tomorrow.

  1. Season 2: Episode 12: How Capital Campaigns Can Help Your Nonprofit Achieve Its Mission

    06/17/2024

    Season 2: Episode 12: How Capital Campaigns Can Help Your Nonprofit Achieve Its Mission

    In this episode, we welcome our special guests, Erin Anderson, Executive Director of the Idaho Botanical Garden, and Cheryl Guiddy, Nonprofit Industry Lead at Harris. Learn how successful capital campaigns are helping nonprofits meet their future goals, and the importance of an organized structured plan, which often begins years in advance. Cheryl brings her insight into crucial accounting considerations, and Erin also shares the exciting future expansion plans for the Idaho Botanical Garden. Show Notes: 00:35 Introduction and Guest Introductions01:46 Overview of capital campaign and why nonprofits use them03:00 Idaho Botanical Garden's impressive plans for expansion09:37 Capital campaign phases 11:40 Financial accountability and transparency17:45 How to help your board and staff understand the financial data coming in 20:43 Best piece of advice for nonprofits looking to do a capital campaign Links: Idaho Botanical Garden Website Erin Anderson's LinkedIn

    25 min
  2. Season 2: Episode 11: Navigating the Corporate Transparency Act

    05/14/2024

    Season 2: Episode 11: Navigating the Corporate Transparency Act

    In this episode, our host, Josh Tyree introduces Brittany Mergan, CPA of CTA Compliance, the preferred provider for helping our clients comply with the new Corporate Transparency Act requirements. Along with our partner at Harris, David Hutchison, EA, they address key aspects of the Act, help define the types of owners that will be required to report, deadlines for reporting, exemptions, and tips for multi-entity owners. Show Notes: 00:35 Introduction to the Corporate Transparency Act (CTA)01:24 Current Status and Legal Challenges of the CTA02:47 What is Beneficial Ownership Information (BOI) and the role of FinCEN?04:20 Who needs to file and what do I have to submit?05:10 Consequences of Non-Compliance with the CTA05:59 Defining ownership interest, and the effect on spouses10:08 Deadlines for reporting11:42 Defining reporting applicants and their responsibilities in reporting13:20 Clarifying requirements for Single Member LLCs or Sole Proprietors 16:33 Tips for multi-entity owners Links: Questions on CTA Compliance, contact info@ctacompliancellc.com Brittany Mergen's LinkedIn David Hutchinson's LinkedIn David Hutchison's Biography

    21 min
  3. Season 2: Episode 10: The Art of Cash Flow Management: A Controller's Perspective

    04/10/2024

    Season 2: Episode 10: The Art of Cash Flow Management: A Controller's Perspective

    In this episode we welcome our guest, Gina Vinci, Controller at McMillen, a leading engineering and construction firm. Gina helps give a greater understanding surrounding the complexities of managing cash inflows and outflows effectively, the importance of leveraging banking relationships, and the critical role of forecasting to help in meeting organizational goals. Discover practical tips for mastering cash flow management in diverse business landscapes. Key Highlights: 01:38 – What cashflow management means from a controller’s perspective02:14 – How receivables (AR) and payables (AP) impact your cashflow04:52 – The nuances of cashflow in the construction industry05:50 – How subcontractors and contract payment terms tie into managing cashflow09:27 – Leveraging strategic banking relationships12:07 - The importance of a strong balance sheet to support cashflow3:08 – Monitoring backlogs and burn rate15:00 – Using historical cash flow to help forecast16:43 - Continuous cash flow monitoring and planning17:41 - Aligning to leadership’s strategic goals 19:51 – How banking and CPA relationships can assist with cashflow strategies Links: Gina Vinci's LinkedIn McMillen Inc's Website

    22 min
  4. Season 2: Episode 9: Tax Planning Opportunities for Extending Returns

    03/06/2024

    Season 2: Episode 9: Tax Planning Opportunities for Extending Returns

    In this episode, we’ve invited guest speaker, Todd Ames, Partner at Harris Twin Falls to give us more insight on the value of extending your return. Learn about important tax deadlines, the benefits of extending your return, and strategies to maximize tax savings during the extension period. Discover how proactive planning can translate into tax savings when it comes time to file. Show Notes: 02:06 - Understanding Tax Deadlines and Dates05:16 - The Importance of Extending Your Return06:51 - Maximizing Tax Savings with Strategic Planning 10:33 – Retirement Contribution Timing Opportunities 12:55 - Tax Strategy Example For an Extended Return: Cost Segregation Study 14:50 – New Legislation Update Regarding Research & Development (R&D) Credits 18:23 - The Impact of Changing IRS Interest Rates & Penalties22:25 - Complying with the Corporate Transparency Act 24:33 - Looking Back in an Effort to Plan Ahead Links: Todd Ames' Biography Todd Ames' LinkedIn

    28 min
  5. Season 2: Episode 8: Harris CPAs Economic Event Recap with Washington Trust Bank and Conrad Ball

    02/06/2024

    Season 2: Episode 8: Harris CPAs Economic Event Recap with Washington Trust Bank and Conrad Ball

    In this episode of 'Accounting for Tomorrow', host Josh Tyree is joined by Conrad Ball, the Southern Idaho regional president for Washington Trust Bank. Together, they provide a recap of the annual Harris CPAs Economic Update where Steve Scranton, the Chief Investment Officer and Chief Economist, shared insights and outlooks for 2024. They discussed job growth, income trends, personal spending, borrowing rates, inflation, and preparing for future economic challenges. This insightful discussion offers valuable information for community leaders and business owners looking to navigate the ever-changing economic landscape. Show Notes: 00:42 Recap of the Annual Harris CPAs Economic Update01:19 Introduction to Guest Speaker: Conrad Ball02:56 Discussion on Job Growth and Income04:34 Challenges in the Labor Force07:45 Impact of Inflation on the Economy13:19 Insights on Borrowing and Interest Rates18:15 Understanding Inflation and its Impact22:45 How can you best prepare for a recession? Links: Harris CPAs Economic Event Presentation Video Conrad Ball's Biography Washington Trust Bank's Website

    28 min
  6. Season 2: Episode 7: Keeping Businesses Connected: An Interview with the Boise Metro Chamber

    01/10/2024

    Season 2: Episode 7: Keeping Businesses Connected: An Interview with the Boise Metro Chamber

    In this episode we welcome the new CEO of the Boise Metro Chamber of Commerce, Bobbi-Jo Meuleman. With extensive experience in state government, Bobbi-Jo discusses the opportunities she sees this legislative session, and the opportunities with the Idaho Launch Program. We’ll hear more about the Chamber’s networking opportunities and how Leadership Boise is bringing young professionals together across industries, then dive into the Chamber’s plans for 2024 to help address transportation, housing, and other issues in the Treasure Valley. Show notes: • 02:22 – Bobbi-Jo’s journey to the chamber • 03:20 - The upcoming legislative season & understanding the Idaho Launch Program • 06:50 – Networking opportunities within the chamber • 08:37 – Leadership Boise as a professional development tool • 10:40 - The Chamber's other entities: BVAP and Visit Boise • 12:04 – Planning for the Treasure Valley’s growth Links: Boise Metro Chamber Website Bobbi-Jo Mueleman LinkedIn

    16 min
  7. Season 2: Episode 6: Tax Planning for Businesses

    12/06/2023

    Season 2: Episode 6: Tax Planning for Businesses

    In this episode of Accounting for Tomorrow we dive into the world of tax planning for businesses at year end. Our guests, Cheryl and David, partners at Harris CPAs, share valuable insights on various tax-related topics that businesses need to consider for 2023, including employee retention credits, the inflation reduction act and its impact on tax credits, including energy efficiency and research and development expenses. Join us as we navigate through these key tax planning considerations and many others, to help businesses stay informed and make sound decisions on key ways to minimize their taxes. Show notes: 00:35 - Introduction and Overview of 202301:06 - Employee Retention Credits03:49 - Research and Experimental Expense Treatment05:58 - The Corporate Transparency Act and Its Implications07:46 - Exploring the Inflation Reductionary Act10:53 – Past tax laws still in effect: ABE payments, Net Operating Losses15:40 - Understanding depreciation & its limits: Section 179, Bonus Depreciation17:35 – Real Estate Interest Expense & limitations: 163(J) provisions18:34 - Choosing the Right Entity for your Business22:00 - Different Basis of Accounting: Cash vs. Accrual24:38 - Navigating State and Local Taxes plus the Nexus Rules Links: Chery Guiddy's Biography David Hutchison's Biography

    29 min
  8. Season 2: Episode 5: Tax Planning for Individuals

    12/05/2023

    Season 2: Episode 5: Tax Planning for Individuals

    In this episode of Accounting for Tomorrow, join partners Cheryl Guiddy and David Hutchison from Harris CPAs as they explore crucial aspects of individual tax planning. With year-end approaching, the discussion delves into nuances like tax rates, brackets, and changes for the current year. The experts share insights on timing income, deductions, and effective tax strategies, covering topics such as capital gains, retirement plans, IRA options, Idaho-specific deductions, credits, and updates on electric vehicle tax credits. Emphasizing the role of cash flow and budgeting in tax planning, they also address the intersection of tax decisions with estate planning. Ideal for self-employed business owners or new retirees, this episode offers valuable tips to optimize tax strategy for current and future financial success. Show notes: 00:53 – Understanding Tax Brackets: Effective Tax Rates vs Marginal Tax rates02:35 – Timing of Income and Tax Deductions04:07 – Strategies for Stock Sales and Capital Gains06:50 – Retirement Plan Options for Schedule C Taxpayers10:33 - Understanding the different types of Individual IRAs and how they can be used for planning13:13 – Idaho specific Deductions and Credits17:51 – Electric Vehicle Credits17:40 – Importance of Cash Flow and Budgeting20:07 - Conclusion and Final Thoughts Links: Cheryl Guiddy's Biography David Hutchison's Biography

    22 min
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Ratings & Reviews

5
out of 5
2 Ratings

About

Accounting for Tomorrow is an accounting and advisory services podcast for community leaders with a passion for change, who are ready to look past the numbers and ensure that today’s planning efforts create success for tomorrow.

Information

  • Creator
    Josh Tyree and Robert Shappee
  • Years Active
    2022 - 2024
  • Episodes
    20
  • Rating
    Clean
  • Copyright
    © Copyright 2024 Josh Tyree and Robert Shappee
  • Show Website
    Accounting for Tomorrow