Gilbert Talks Taxes

2014 Episode 5 - November 29, 2014

Letters from the IRS need attention. Gilbert is hoping Congress can rewrite our outdated (1985) tax code and repatriate money that is sitting overseas. He also teaches about Sales & Use tax. If you don't pay sales tax in another state, you might get a letter asking you to pay the tax with a penalty. Be sure to evaluate your business model (S-corp, LLC, etc.) to be sure it is till the best for your business. Accrual vs. Cash basis accounting makes a difference too. He also answers questions. Black Friday is proof that free-market works: no government intervention, no tax breaks. Tax-free weekends, by contrast, are not good. "The government that governs the least governs the best."

2014 Episode 4 - November 22, 2014

Gilbert reassures us that, while the IRS can be intimidating, they still can be reckoned with. Today he talks about various options for bookkeeping methods, and various business entities with pros and cons for tax considerations. He also takes time to answer listeners' questions.

2014 Episode 3 - November 15, 2014

Gilbert talks taxes in the wake of Affordable Care act. He rightfully calls out Nancy Pelosi and others for recent actions, simply by quoting the Bible. He doesn't want to focus on politics but it is intrinsically connected to taxation. He also talks about sole proprietorships.

2014 Episode 2 - November 8, 2014

Welcome to the 2014 tax season of Gilbert's show! Today he talks about audits, how long to keep your records, IRS scams, 433D, and current developments. The IRS commisioner said this week that, due to budget cuts, phone responsiveness will be down from the already poor service we saw last season. The new Congress will have opportunity to evaluate certain tax credits and retro-actively reinstate some come January. What Gilbert would like to see is a major taxcode overhaul, which has not been done since Reagan in the 1980s.

2014 Episode 1 - November 1, 2014

Welcome back to season 2 of Gilbert Talks Taxes! Our mission is to help people. This is the end of the 2014 tax year, and what we talk about could be obsolete by December, but it is good to at least plan. Scam alert: Phone caller ID says "IRS" and they immediately demand money to avoid arrest if you don't pay by 5 p.m. If you have a question about a tax issue, PLEASE seek professional help. Do NOT ask Google. Gilbert gives an example of an inherited IRA that was mishandled by trusting googled information. The last segment is "Business Corner" covering topics affecting small business America.

2013 Episode 16 - April 19, 2014

The IRS uses intimidation, but Gilbert can help. Pray with him about the future of this program- we all want the will of God for all of our lives. Matthew 17:27 Jesus paid taxes, and Peter's too. God provides. Gilbert also provides another scam alert: The latest phone scam is targeting foreigners demanding money. IRS does NOT call or email- collections are by letter. Hang up and call the IRS! This week's "Feel the Love" highlights the IRS allowing people who donated to Filipino typhoon victims by 4/15/14 to write off the donation on 2013 taxes. However, most folks are "below the threshold" of standard deductions anyway, so this really benefits almost no one. Also, keep good records on rental properties to be sure you get the appropriate tax deductions. Come see us at our new office in Tryon, NC. Thanks to everyone for all the support this season!

2013 Episode 15 - Apr 12, 2014

Again this week, Gilbert cautions about multiple scams going on posing as government agencies demanding money. In Gilbert's special "Feel the Love" section,  he highlights the good that IRS is doing. (Wait...what?) Recently IRS granted WA mudslide victims an automatic 6-month extension on paying taxes this year. (How utterly self-centered of them.) Gilbert continues his previous discussion about tax-favored status couples and proprietorship. Avoid the "partnership" classification. Employ the spouse instead; let's talk!

2013 Episode 14 - Apr 5, 2014

As an Enrolled Agent, Gilbert can represent taxpayers before the IRS, a tax specialist. Required Disclaimer: Nothing he says is to be construed as advice to avoid paying taxes or minimize tax liability. Tax advocates are also available, but you must reach out to them first. Scam Alert: Never give sensitive information to an "IRS" email or phone request. IRS always sends letters. They do NOT use social media, emails, or phone. Please stop and think before giving information to an entity! Gilbert also discusses sole proprietorships, as he has been promising, including options for married couples.