Tax Bites with Poonam RNCN

In this episode of “Tax Bites with Poonam” we will see a boxing legend/Professional boxer Errol Spence Jr in the studio.
In this interview you will see Errol sharing his career highs and lows and what kept him motivated during his excellent Career record of 29 fights in which he ended up winning 28.
He also discusses his personal life and the people he calls his “own” and who stood by him through thick and thin.
 
Later Poonam will also discuss the tax deductions for sports person and how one can take advantage of these deductions to lower the tax bracket.

In this episode of “Tax Bites with Poonam” Poonam Sandhu and a fellow CPA, Rebel Smith Quillin talk about:-

-Recent tax planning strategies

-New laws of Corporate Transparency act of 2024 &

-Beneficial Ownership Information Reporting at FINCEN.gov.


You would hear us discussing advantages of Roth IRA for kids, Donor’s Advised Fund, 529 plan leftover funds to Roth IRA and holding period and last but not the least recent corporate transparency act and BOIR.

In this episode of Tax Bites with Poonam, I picked the most common question that I am faced with when my clients are unable to decide between Schedule C (Single Member LLC, Sole Proprietorship) Vs S Corp. I have tried to show comparison analysis to illustrate the tax savings and tax advantage while using one or the other in their portfolio.I am also joined by my guest Russell Duckworth, who is a VP Finance( factoring) at American Bank. He has some real good knowledge to share regarding factoring and what American Bank does and can do for your business loan requirements.

In this episode of Tax Bites with Poonam, I deep dive into navigating and completing the 1040 form from beginning to end. I'm also joined by her guest and client, Raj Lodha, to discuss retirement planning and investing in fixed indexed strategy where your growth is locked in regards to market downturns. The biggest advantage is you do not lose money and still the money grows as the market gain's momentum.