Gilbert Talks Taxes

2013 Episode 13 - Mar 29, 2014

Taxes affect so many areas of life. The carbon tax is an attempt to tax the air we breathe. The $726 million in unclaimed refunds has been suggested as a lottery... because the government keeps up to 60% of your winnings. With K1 or 1099B for investments, check with a professional if there might be corrected editions coming out. Starting in April, extensions will be filed. It is not an extension to pay, so at least estimate a payment.

2013 Episode 12 - Mar 22, 2014

The last update to our tax code was under Ronald Reagan. The "Tax Gap" in the news recently is basically a mythical number the Treasury makes up to induce taxpayer compliance. IRS collects $2 trillion every year. There's so much conflicting information- one report says they are short money, then another report shows millions in unclaimed refunds. Again, please, if you get a government tax letter, do not ignore it.

2013 Episode 11 - Mar 15, 2014

Sole proprietorship has advantages, but this conversation is best had on an individual basis. Tax planning can save time & money. April 15th should not be an economic event. Good tax planning is a small refund or owing a little tax. Be careful researching on the internet- always verify with a professional. Obama is promising a lot of things, but ultimately Congress has to pass LAWS. Taxation is less about revenue, more about social engineering.

2013 Episode 10 - Mar 8, 2014

Reach out to a professional if you have ANY tax questions. Practitioners have priority access to resolve issues. Also visit www.irs.gov for information. Dependents marked "other" will be asked for proof. With recent discussion about charitable contributions, we must reference Biblical principles. When the Jews were paying two taxes (Roman taxes and temple taxes), Jesus told them to render to Caesar what is Caesar's and to God what is God's. Whether it is tax deductible or not. Keep receipts and records in case of an audit.

2013 Episode 9 - Mar 1, 2014

Thanks for all the support & love, flowers, letters, emails, & prayers. Gilbert answers more questions from listeners. If you own a sole proprietor as a married couple - let's talk- you want to be sure you both are getting credit for Social Security, etc. If you need to file an amended return, wait until the first return cleared IRS. Gilbert also tells us about the 1099A vs the 1099C.

2013 Episode 7 - February 22, 2014

Special Tribute to his oldest son Gilbert Lazarus Carmona, who passed away last Friday on Feb 14, 2014. Thanks to everyone for the prayers and support.
It is so important to hear God's voice and obey. Gilbert does answer tax questions for the last ten minutes. If anyone gets a 1099A, please call Gilbert.

2013 Episode 6 - February 15, 2014

Gilbert warns the government is struggling to make good on tax credits lately. If you get ANY letter or "tax document" from a tax agency, PLEASE consult a professional. A "Ten ninety something" is important! Also when making purchases or depreciating assets, like section 179, weigh the options for your business short- and long-term. IRS has tried unsuccessfully to regulate tax preparers. The freedom of anybody doing taxes is great, but the potential security breach of information is real in this digital age.

2013 Episode 6 - Feb 8, 2014

Gilbert congratulates John & Esther on the purchase of their first home! In other news, Obama might be defaulting on Government obligations, which could affect tax refunds... This is YOUR money they are tossing around. A lot of tax credits "expired" in December 2013, we don't know if they will be reinstated later this year. Gilbert also discusses the 1099c, and the healthcare reform, including the individual mandate. There is still a lot we don't know...