First Sip
Welcome to "First Sip," the podcast that fills your cup with curious conversations around ways to improve your personal & professional lives. I'm Dekimbe Smith, your host, and each week I dive into different topics that sparks the curiosity of the "Average Joe" that wants more.
Whether you're looking for tips on getting your life together, or strategies for building wealth, First Sip has something for you. So grab your drink, press play, and as always... enjoy your first sip!
First Sip
Tax Tips and Tales ft. David Colon: The New IRS Army, ERC Scams, and Comic-Con Plans
Join me and David Colon in this episode, where we dive deep into the world of taxes, and make it all about the millennial hustle. 💼
We're breaking down the recent IRS decision to hire 80,000 new agents, the confusion around crypto and gambling taxes, and why the Employee Retention Credit became so popular in 2023.
Small business crew, we're talking accounting hacks and why outsourcing is the secret sauce. But this isn't your typical tax talk – David's dropping knowledge bombs on loopholes and strategies that go beyond the dollar signs. 🚀
We wrapped it up with book recommendations, Marvel geek-outs, and plans for the next comic-con. So stay tuned, stay curious, and as always Family…enjoy your First Sip!
🔌 Connect with David
Timestamp Overview:
00:00 Introduction and Importance of Taxes
04:39 IRS Hiring and Funding
08:23 PPP Funding and Tax Issues
10:14 Tax Implications of Crypto and Investment Apps
13:12 Employee Retention Credit and Fraud
16:13 The Importance of Accounting and Outsourcing
20:42 Getting Started with Taxes and Accounting
24:00 Tax Tips for Starting a Business
30:18 Reconciling Books and Filing Taxes
36:06 Understanding Tax Loopholes and Laws
37:05 Year-End Tax Planning
39:44 Encouraging young people to join the tax industry
45:48 The benefits and opportunities in the accounting space
48:37 The importance of continuous learning in accounting
52:59 The power of networking and building relationships
57:42 Content Rec of the week:
58:09 Discussion on Marvel and Comic-Con
01:01:47 Staying informed through interviews and conferences
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