355: Joe Biden's Tax Bill - How it Affects You

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 17 September 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

To get in contact with your state representative visit: https://www.senate.gov/senators/senators-contact.htm This Proposed Tax Bill is HUGE and has tons of implications that will affect business owners and everyday Americans. Be sure to tune into this week's podcast to learn about a few of what Mark and Mat feel are the most important proposals. We want to invite everyone to contact their state representatives to ensure that they are aware of the implications if this bill passes! To learn m...

Transcript

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0:00.0	Welcome everybody to this week's episode of the Main Street Business podcast with yours truly Mark Kohler and my amazing co-host Matt Sorensen.
0:12.5	That's your cue.
0:13.4	Yeah, baby.
0:14.8	I'm here.
0:16.0	I'm here.
0:16.9	We don't have one of those good looking guys, sexy girl, kind of little with a clipboard pointing at Matt.
0:23.0	It's you.
0:23.7	You know, like, yeah, you're on. You're on. So I kind of have to say that for everybody, so you know. We don't have a budget for that. Yeah. I need a lead in. I need like a little cue. That's your cue. That's your cue. Say something. Okay. If some of you were searching this topic on the new Democrats tax bill, the new
0:41.0	Democrats tax bill that was presented in the House, were released to the House Ways and
0:46.4	Means Committee just this past few days. It's been a whirlwind. We're here today to hopefully
0:52.7	break it down into what you might want to
0:55.4	be concerned about from a tax and legal perspective. We're both tax attorneys, real estate
1:00.6	investors, small business owners, family guys, just trying to make it work. Taxpayers, taxpayers,
1:08.1	too. So I feel you're paying on some of these that might hurt um there's some good news in
1:14.0	here though i don't want you know this isn't all doom and gloom yep um some of you who don't like
1:17.8	paying taxes and i understand that frustration but um there's some things that aren't in the bill that
1:24.2	biden was asking for and made and made a lot of news and scared a lot of people that
1:28.7	didn't get into this bill. So that's important. We'll note what's in and what's out at this point.
1:34.5	Also, a couple quick disclaimers. We don't want this to be a politically driven show where all
1:41.4	we're doing is beating up President Biden or the Democrats.
1:44.5	So I'm going to say this as artfully as I can.
1:47.4	Usually Matt corrects me after the show.
	...

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