The Inflation Reduction Act Proposed, Episode 24, Ron Cohen
This week Ron Cohen talks about: The proposed Inflation Reduction Act, Senator Sinema & the Manchin/Schumer Build Back Better Bill & The problem with multi-variable computations!
Follow up on last week’s podcast:
1) I may have been wrong! Corporate Welfare? The Student teaches the teacher!
2) Taiwan is 80 miles from the China coast…not 10 as I said.
Inflation Reduction Act proposal Show Notes:
Inflation Reduction Act – Draft Bill
https://www.documentcloud.org/documents/22122279-inflation-reduction-act-of-2022
Senate Finance Committee Report saying it raises taxes at low income levels:
https://www.finance.senate.gov/imo/media/doc/jct_distributional_effects_inflation_reduction_act.pdf
Deloitte Report:
https://www2.deloitte.com/content/dam/Deloitte/us/Documents/Tax/us-tax-taxnewsandviews-220729.pdf
Sen. Sinema may be on the fence?
https://www.vox.com/policy-and-politics/23282983/inflation-reduction-act-kyrsten-sinema-josh-gottheimer
Sen. Manchin does not answer the question:
https://www.cnn.com/2022/08/01/politics/kyrsten-sinema-democrats-big-week-for-biden-presidency/index.html
Please let us know if there are specific topics you’d like to hear about in future episodes.
Ron Cohen,
CPA, Partner at Greenstein, Rogoff, Olsen & Co., LLP CPAs & Advisors
Email: rcohen@groco.com
510.797.8661
Click here to listen to more from Ron.
Click here, then scroll down, to see Ron’s bio.
To receive GROCO’s free newsletter, click here.
Click here to learn more about Greenstein, Rogoff, Olsen & Co., LLP (GROCO.com) Advisors to the ultra-affluent.
IRS Clarifies Home Sales Want to Come Clean About Taxes Overseas? The IRS Is Willing to Help
IRS Clarifies Home Sales Want to Come Clean About Taxes Overseas? The IRS Is Willing to Help By Alan Olsen, CPA, MBA (tax) Managing Partner Greenstein Rogoff Olsen & Co. LLP You know that awful feeling you get when you have done something wrong and you just can’t wait to get it off your chest?…
Treasury Releases Detailed Guidance on Deduction for Qualified Domestic Production Activities
Treasury Releases Detailed Guidance on Deduction for Qualified Domestic Production Activities As expected, the Treasury Department on January 19 released much-anticipated guidance (Notice 2005-14) on the phased-in deduction for qualified domestic production income that was enacted last October as part of the American Jobs Creation Act of 2004. The deduction is effective for taxable years…
Tax Tips for Investors in Securities or Real Estate
Tax Tips for Investors in Securities or Real Estate Let tax-favored capital gain help you build your wealth. Historically, investing in the stocks of good, growing companies is the best way for investors to build wealth. There’s also a tax advantage. While dividends are taxed as income even when reinvested, federal income tax on growth…
Sentimental Value Vs. Market Value? Knowing The Difference Sells Homes
Sentimental Value Vs. Market Value? Knowing The Difference Sells Homes By Pablo Santibanez When selling your home today and in this market, it is critical to price your home properly for a successful sale. Gone are the days when you could list your home at the top of the market, selling your home above what…