The Nienow & Tierney, LLP Podcast

On this episode of the Nienow & Tierney, LLP Podcast we have a conversation about the requirements of the Corporate Transparency Act that will impact many of our business clients. Under the CTA, certain businesses must start reporting the Beneficial Ownership Interests in their businesses, or face stiff penalties and other consequences. It is important to be aware of these rules and plan for compliance. Paul Nienow and Steve Tierney were joined by William Vetter for this discussion.

On this episode of the Nienow & Tierney, LLP Podcast, originally recorded on September 22, 2023, Paul Nienow and Steve Tierney discuss the Employee Retention Credit (ERC). With so much attention brought about originally by aggressive marketing in the mass media, and now unprecedented action by the IRS, we thought it would be a good topic for discussion. While this discussion will not provide every detail a taxpayer may need to decipher this issue, this will hopefully provide the basic groundwork for an understanding of what the ERC is, and possibly more importantly, what it is not.

In this episode of Nienow & Tierney, LLP partner chat originally recorded on August 19, 2022, Paul Nienow and Steve Tierney discuss the tax implications of the Inflation Reduction Act of 2022.

In this episode of the Nienow & Tierney, LLP podcast, Paul Nienow & Steve Tierney discuss the new CA budget, and the various tax rule changes it contains.

The Nienow & Tierney, LLP Podcast is back, in a new format.  We will be recording episodes on a less frequent basis, when there is new and important information for our clients.  In this episode, Paul Nienow & Steve Tierney discuss the California CalSavers program, that is mandatory for all businesses with 5 or more employees, and must be complied with by June 30, 2022.  We go over what you need to know to keep your business in compliance.

The Nienow & Tierney, LLP Podcast is back, in a new format.  We will be recording episodes on a less frequent basis, when there is new and important information for our clients.  In this episode, Paul Nienow & Steve Tierney discuss the quickly approaching June 15, 2022 deadline for passthrough entities to make a payment to participate in California's AB-150 Passthrough Entity Elective Tax program for 2022.

In this episode of the Nienow & Tierney, LLP partner chat, Paul and Steve discuss tax provisions of the Build Back Better bill that passed the House this month, and what could be next for the bill, and how it may impact our clients.

In this episode of partner chat, we go over our internal discussion points on California AB 150. This new rule provides owners of pass through entities a way to get around the $10k SALT deduction limit imposed by the TCJA of 2017.

In this recorded Partner Chat session, Paul and Steve discuss a basic overview of what they see as the pros and cons of setting up a business as an LLC or an S-corporation.

In this episode of Partner Chat, Paul Nienow and Steve Tierney discuss the proposed workaround of the federal $10,000 deduction limitation for state and local taxes introduced by the State of California.  We discuss how our clients who own passthrough entities may be able to take advantage of this proposed workaround which has subsequently become law.

In this episode of Nienow & Tierney, LLP partner chat Paul Nienow & Steve Tierney discuss the new Advance Child Tax Credit Payments which are set to begin in July.  We discuss what our clients need to know, and what actions they may want to take now.

The Biden Administration announced this week that it is planning to make the increase in capital gains tax rates retroactive to April or May. On June 2, 2021 Paul Nienow and Steve Tierney discuss why this might happen, and what planning techniques, if any, can be employed.

In this episode of partner chat originally recorded on May 21, 2021, Paul Nienow and Steve Tierney discuss the proposal to fund $80 billion to the IRS to step up taxpayer audits, and some of our experiences with IRS audits in the past.  We also look back at the difficult 2021 tax filing season and discuss the unusual spate of MLB no-hitters.

In this episode of the Nienow & Tierney, LLP podcast originally recorded on April 30, 2021, Paul Nienow and Steve Tierney review the list of recently released tax provisions of the American Families Plan proposed by President Biden.  We also discuss the better late than never final rules from the State of California regarding the taxation of PPP loans.

Originally recorded on April 2, 2021, Paul Nienow and Steve Tierney catch up to discuss the status of California resolving their PPP taxation plan, tax deadline extension details, problems at the IRS and the potential tax provisions of the President's proposed $2 trillion infrastructure plan.

In this partner chat originally recorded on March 18, 2021, Paul Nienow and Steve Tierney discuss the extension of the 2021 tax filing deadline, and the various caveats taxpayers should be aware of.

In this edition of partner chat Paul Nienow and Steve Tierney review some of the tax provisions of the just enacted American Rescue Plan Act, what the current status is of California legislation on the taxation of PPP loans, and we look back at at last year of COVID life, and work.

In this partner chat recorded on March 5, 2021, Paul Nienow and Steve Tierney discuss the problems being caused by the delay in California PPP legislation for March 15th filings, and the latest information on the IRS possibly moving the April 15th filing deadline.

Steve Tierney and Paul Nienow discuss ideas for maintaining firm culture during a pandemic with remote workers.

In this conversation on February 19, 2021, Paul Nienow and special guest tax manager Tracy Pohlen  have a quick discussion about the newly announced agreement on California stimulus that includes partial PPP forgiveness relief.

R & D and other tax credits are gaining more and more attention these days.  On February 5, 2021, Steve Tierney had a conversation with Steve Ho of Welsh Advisors about R & D and other tax credits, and what is involved to qualify for and obtain them.

On February 5, 2021 Paul Nienow and Steve Tierney discussed the "Vote-O-Rama" on yet another stimulus bill.

It's the gift that keeps on giving.  Paul Nienow and Steve Tierney discuss new information and guidance coming out on COVID relief programs, including California's treatment of PPP forgiveness, new information on the employer retention credit, how self-employed taxpayers can defer self-employment tax, and the State of California's COVID-19 relief grant program for small businesses.

Cost segregation studies can be a powerful tool to maximize the tax benefit of depreciation on acquired or improved property.  On January 21, 2021 Steve Tierney had a conversation with Rhett Gagon of Cost Segregation Authority to discuss an overview of cost segregation studies, and their implications for our clients.

In this episode of the Nienow & Tierney, LLP Podcast, Paul and Steve discuss some of the changes the firm is implementing this year to make tax season as safe and smooth as possible for our clients.

In this partner chat originally recorded on January 8, 2021, Paul Nienow and Steve Tierney discuss an overview of California's Prop. 19 which was passed in November, and discuss the tax implications of the election results in Georgia, and the change in control of the Senate.

In this Partner Chat, originally recoded on December 31, 2020, Paul Nienow and Steve Tierney discuss emerging details of the latest COVID-19 relief and stimulus bill as well as the upcoming January estimated tax payment due date.

In this episode originally recorded on December 21, 2020, Paul Nienow and Steve Tierney review details of the new COVID relief bill that is rolling out.  The bill, when signed into law, brings welcome relief to both individuals and businesses, including much needed deductibility of expenses paid with forgiven PPP proceeds.

This is a recording of our year-end client call originally held on December 16, 2020.  We covered an update on the CARES act, the latest news on a second COVID-19 relief bill, 2020 year-end tax planning strategies and an overview of the Biden tax plan.

Momentum is building for a new federal stimulus bill while the State of California has announced two new programs to provide financial assistance to small businesses.  In this episode of the Nienow & Tierney, LLP podcast, originally recorded on December 4, 2020, Paul Nienow and Steve Tierney discuss various aspects of these programs and how they may benefit our clients.

Thinking about moving out of California?  In this partner chat originally recorded on November 13, 2020, Paul Nienow and Steve Tierney discuss various considerations for taxpayers considering a move out of California.

SORRY FOR THE POOR AUDIO QUALITY!  In this episode of the Nienow & Tierney, LLP podcast, originally recorded on November 9, 2020, Paul Nienow and Steve Tierney review the tax policy proposals laid out by Joe Biden during his campaign for the presidency.

This week Paul Nienow and Steve Tierney look back at the tax season that seemed that it would never end, and reviewed five tax planning ideas for taxpayers as year-end approaches.  Originally recorded October 21, 2020.

In this weekly partner chat session originally recorded on October 9, 2020, Paul Nienow and Steve Tierney discuss yesterday's changes to the PPP loan forgiveness rules, as released by the SBA and Treasury Department.

In this episode originally recorded on October 2, 2020, Paul Nienow & Steve Tierney review the recently published IRS "Dirty Dozen" list.  Each year, the IRS publishes this list of scams and schemes taxpayers need to be on the look out for.  We're helping them get the word out.

In this partner chat discussion originally recorded on September 25, 2020 Paul Nienow and Steve Tierney discuss why small businesses should pay attention to their retained earnings balances in their accounting system, how to keep it in balance with their prior year records, and steps to do so in Quickbooks.

In this episode originally recorded on September 4, 2020, Paul Nienow and Steve Tierney discuss staff returning to the office, last minute guidance from the IRS on how to implement the President's executive order on deferring employee payroll taxes, and the Boston Marathon.

In this August 28, 2020 partner chat, Paul Nienow & Steve Tierney discuss some potential state and local tax traps for businesses with workers working remotely due to the COVID-19 pandemic.  We also discuss new relief to allow taxpayers to electronically sign certain tax documents, again in response to the COVID-19 pandemic.  Finally, we also chat about exciting news with some of our staff, as well as our firm picnic.

In this episode of the Nienow & Tierney, LLP podcast originally recorded on August 20, 2020, Paul and Steve discuss the new proposed net worth tax proposed for the State of California.  Can you avoid it by moving out of California?  Are nonresidents subject to any California tax?

In this episode, originally recorded on August 14, 2020, Paul Nienow & Steve Tierney have a discussion about what options our clients may have to claim the home office deduction, as so many folks are now required to work remotely due to the COVID-19 pandemic.

In this conversation, originally recorded on August 7, 2020, Paul and Steve discuss what deadline extensions are available due to COVID-19 for taxpayers contemplating a tax-free 1031 exchange, a basic overview of the requirements of California's CALSavers law, and IRS identity verification procedures for individual taxpayers.  Oh, and we also discuss the Angels vs. Mariners series this week.

Originally recorded on July 31, 2020, in this discussion, Paul and Steve review the current special rules for Required Minimum Distributions from IRA accounts in 2020, the requirement for certain taxpayers to make their tax payments to the State of California electronically (and the penalties associated with not doing so) as well as the federal first time penalty abatement program.

In this episode recorded the day after the filing deadline, July 16, 2020, we discuss a couple of odd filing problems we had on behalf of clients, and the odd tax season that never ended.  APOLOGIES FOR THE POOR AUDIO QUALITY.

This is a short episode recorded on July 3, 2020 in which we discuss the upcoming tax deadline, and of course, a quick discussion on some pending legislation regarding the PPP loan program.

Originally recorded on June 25, 2020, in this episode we have yet another discussion on more new information about the PPP program.

In this episode recorded on June 19, 2020 we discuss our thoughts about Quickbooks Online, and how it has evolved over the years.  We also discuss some big changes coming next year to how partnerships are required to report tax information to the IRS.

In this episode recorded on June 11, 2020 we chat about delays in IRS refunds that our clients are experiencing as a result of the COVID-19 crisis, grants available to small business through local governments and municipalities, and of course, an update on the PPP program.

The discussion topic that keeps on giving.  Given the importance of the PPP program to so many of our clients, and the myriad of changes happening on a seemingly daily basis, in this episode we discuss the changes to the rules and the impact of those changes on small businesses.  Originally recorded on June 4, 2020.

In this episode recorded on May 29, 2020 we discuss recent developments and guidance on PPP loan forgiveness.

In this episode, we recorded a discussion about the content we presented on our April 15, 2020 "Zoom Client Call".  We discuss details of the various programs in place at that time, as a stimulus response to the Coronavirus pandemic.