Today I’m going to review these 3 topics:
Are you wanting to take your LLC Partnership to S Corporation: let’s review the items you should consider before filing that S Corporation election (:47). Also, Biden selects Daniel Werfel to lead IRS – how the next 5 years of his (or any commissioner's) leadership will transform our relationship with the IRS (6:00). Lastly, why Social Security reform should be a priority in the next congressional session and could be a great bipartisan achievement to find funding solvency (11:55).
LINKS:
· https://www.thetaxadviser.com/issues/2022/oct/10-good-reasons-why-llcs-should-not-elect-s-corporations.html
· https://www.wsj.com/articles/biden-picks-daniel-werfel-to-run-irs-11668109928
· https://www.congress.gov/bill/117th-congress/house-bill/5376/text
· https://www.gao.gov/products/gao-22-106032
· https://www.crfb.org/papers/analysis-2022-social-security-trustees-report
· https://www.crfb.org/press-releases/president-should-offer-plan-secure-social-security-medicare
· https://www.crfb.org/projects/trust-fund-solutions
· https://www.crfb.org/blogs/trust-fund-solutions-would-be-pro-growth
· https://www.crfb.org/socialsecurityreformer/
· https://www.crfb.org/our-work/projects/combined-social-security-trust-funds
Connect with Chelsea:
Email: taxcastwithchelsea@proton.me
Leave a comment on this podcast.
**DISCLAIMER**
Taxcast with Chelsea is not legal or tax advice for your personal tax situation. My views are my own and I am only speaking from a tax practitioner’s perspective for the general understanding of tax topics. I highly recommend you engage with an experienced tax professional if you are looking for personal tax advice.
https://www.irs.gov/pub/irs-pdf/pcir230.pdf
Today I’m going to review these 3 topics:
Are you wanting to take your LLC Partnership to S Corporation: let’s review the items you should consider before filing that S Corporation election (:47). Also, Biden selects Daniel Werfel to lead IRS – how the next 5 years of his (or any commissioner's) leadership will transform our relationship with the IRS (6:00). Lastly, why Social Security reform should be a priority in the next congressional session and could be a great bipartisan achievement to find funding solvency (11:55).
LINKS:
· https://www.thetaxadviser.com/issues/2022/oct/10-good-reasons-why-llcs-should-not-elect-s-corporations.html
· https://www.wsj.com/articles/biden-picks-daniel-werfel-to-run-irs-11668109928
· https://www.congress.gov/bill/117th-congress/house-bill/5376/text
· https://www.gao.gov/products/gao-22-106032
· https://www.crfb.org/papers/analysis-2022-social-security-trustees-report
· https://www.crfb.org/press-releases/president-should-offer-plan-secure-social-security-medicare
· https://www.crfb.org/projects/trust-fund-solutions
· https://www.crfb.org/blogs/trust-fund-solutions-would-be-pro-growth
· https://www.crfb.org/socialsecurityreformer/
· https://www.crfb.org/our-work/projects/combined-social-security-trust-funds
Connect with Chelsea:
Email: taxcastwithchelsea@proton.me
Leave a comment on this podcast.
**DISCLAIMER**
Taxcast with Chelsea is not legal or tax advice for your personal tax situation. My views are my own and I am only speaking from a tax practitioner’s perspective for the general understanding of tax topics. I highly recommend you engage with an experienced tax professional if you are looking for personal tax advice.
https://www.irs.gov/pub/irs-pdf/pcir230.pdf