Simply Tax

Simply Tax Podcast with Damien Martin

We know what you’re thinking—who really wants to listen to someone talk about taxes? You may not want to listen to a podcast about taxes, but we think you should.

Simply Tax cuts through the static of the tax world and doesn’t waste your time by needlessly tossing around 10-dollar terms and citing code sections. Host Damien Martin has a knack for boiling down complex issues for business professionals who need a trusted advisor to help strengthen their tax mind.

Listen in for more about Simply Tax and host Damien Martin:

Wait.. Another tax podcast?
And here's your host..

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Click the episode title to listen to individual Simply Tax episodes.

Bonus Episode – Tax Bill Whack-A-Mole

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A bicameral conference committee is now working to reconcile the differences between the House- and Senate-passed versions of the Tax Cuts and Jobs Act of 2017 (TCJA). Get the latest from Ed Karl—VP of taxation at the AICPA—as he tells Simply Tax, “Something has to give if they’re going to make some of these changes.”

GUEST BIO: Edward Karl, CPA, is the vice president of taxation at the AICPA. He’s responsible for the review, formulation and submission of technical and policy recommendations for improvement of the federal tax process to Congress, the Treasury Department and the IRS. Mr. Karl also serves as a principal liaison for the AICPA with the IRS and is responsible for tax ethical issues, which includes the management of the AICPA’s Statements on Standards for Tax Services. Finally, Mr. Karl oversees the tax division’s delivery of services to members, focusing on helping AICPA members provide the highest quality professional tax services.

Episode 6 – The Intentional Family Business

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A family business is often the largest source of wealth for business owners, yet a recent study1 found only 36 percent have a formal succession and continuity plan. Listen in on Damien’s must-hear conversation with guest Courtney Pullen—president of The Pullen Consulting Group—to find out why being intentional is important for your family, your business and your future.

Here are just a few of the important areas covered:

  • “Shirtsleeves to shirtsleeves in three generations” @ 4:37
  • Financial transparency and talking money values early in life @ 7:03
  • Three areas to work intentionally toward: stewardship, values and balance @ 10:24
  • Best practices on being intentional about wealth @ 15:17
  • The rising generation @ 18:02
  • “If left unattended, what would you predict is going to happen?” @ 19:39

GUEST BIO: Courtney Pullen has more than 25 years of experience in individual and family coaching, business and management consulting, leadership development, communication and team building. Courtney’s primary focus is as a consultant to financial services firms and affluent families.

Follow Courtney on Twitter

Connect with Courtney on LinkedIn

Learn more about succession planning solutions for privately held businesses with BKDnext®, an intentional and thoughtful process to help you customize a detailed succession and continuity plan designed to create financial security for your family, your business and your future.

1BKDnext 2015 Succession Planning Survey

Episode 5 – Turkey Tax Talk

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On November 16, the U.S. House voted in favor of the Tax Cuts and Jobs Act of 2017, and the Senate Finance Committee approved its version the same day. Find out what it means for businesses, exempt organizations and individual taxpayers as our guests—AICPA Taxation VP Ed Karl, BKD Managing Director Becky Eley and BKD Partner Holly Pantzer—join host Damien Martin for a thoughtful discussion you won’t want to miss. Here’s a look at what’s inside our latest episode:

Here’s a look at what’s inside our latest episode:

  • Tax reform developments from the past 30 days @ 1:16
  • Corporate and pass-through tax rate explained @ 3:56
  • Tax reform for tax-exempt @ 14:36
  • Year-end planning for individuals @ 23:00
  • Putting it all together@ 29:14

GUEST BIO: Becky Eley helps lead the not-for-profit practice in BKD’s Chicago office and is part of the tax-exempt team. She has focused her career as a consultant on tax-exempt organizations, specializing in private foundations, public charities, hospitals, higher ed institutions, trade associations, membership organizations and retirement plans.

Email Becky at reley@bkd.com

Follow @RebekuhE on Twitter

GUEST BIO: Holly Pantzer is a partner in BKD’s Indianapolis office. She provides tax compliance, consulting and planning services to individuals, families, businesses, fiduciaries, private foundations and more as leader of the firm’s East Region Private Client Services (PCS) team.

Email Holly at hpantzer@bkd.com

Follow @PantzerHolly on Twitter

Additional Resources: “Are We There Yet? An Update on Tax Reform Efforts – 8/2017”

Bonus Episode – Back in 1986

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We turn back the clock 31 years in a special bonus episode that looks at the last time tax reform revamped the Internal Revenue Code. Tune in as Bryan Slone—a tax attorney with Omaha-based firm Koley Jessen—shares valuable insight based on his time as Tax Counsel to a member of the U.S. House Ways and Means Committee in 1986.

Here’s a look at what’s inside our latest episode:

  • There are winners and losers in tax reform, and it’s really hard politically @ 3:34
  • Last time, it was bipartisan and took two years @ 6:03
  • It was a different time in 1986 @ 11:20
  • Last time was about a 28 percent individual rate; this time around, it’s a 20 percent corporate rate @ 16:11
  • The economic impact of tax reform @20:56

GUEST BIO: Bryan Slone has more than 30 years of governmental and private practice tax experience. Bryan previously served as Tax Counsel to a member of the U.S. House Ways and Means Committee during consideration of the 1986 Tax Reform Act, Assistant to the Commissioner (Legislative Liaison) of the IRS, co-founding partner of a Berlin-based law firm and tax partner and office managing partner in Nebraska at Deloitte. He also is a former Nebraska gubernatorial candidate.

Bryan Slone on koleyjessen.com

Follow @KoleyJessen on Twitter

Additional Resources

Episode 4 – Big Tax Data

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The term “big data and analytics” seems to pop up more and more, but what is it? Host Damien Martin cuts through the static of the big data world with guest Jeremy Clopton, leader of BKD’s Big Data & Analytics practice. Tune in to hear how data can help enhance marketing strategies, develop competitive advantages, open up new revenue opportunities, reduce risk and improve overall efficiency.

As a bonus, Damien and Jeremy cover another hot topic—millennials.

Here’s a look at what’s inside our latest episode:

  • “The question should be, ‘How can we accomplish this and use data to get there better?’” @ 3:50
  • Do I have big data? @ 6:01
  • Six simple steps to approach big data and analytics @ 13:16
  • Effectiveness before efficiency @ 18:45
  • “Millennials have always been a passion of mine. Full disclosure:  I am one.” @26:16

GUEST BIO: Jeremy is the BKD Big Data & Analytics practice leader. He has more than 10 years of experience applying data analytics in fraud prevention and detection, risk assessment and business intelligence. He’s a frequent speaker on data analytics, continuous auditing, forensic accounting and visualization, data analytics program design and the value of organizational data.

Follow Jeremy on Twitter

Connect with Jeremy on Linkedin

Bonus Episode – Latest From the Reform Roller Coaster

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“Strap in and put the seat belt on in the roller coaster.” Find out what Ed Karl, VP of taxation at the AICPA, is talking about as he returns to Simply Tax and provides his insider’s perspective on tax reform efforts heating up.

GUEST BIO: Edward Karl, CPA, is the vice president of taxation at the AICPA. He’s responsible for the review, formulation, and submission of technical and policy recommendations for improvement of the federal tax process to Congress, the Treasury Department and the IRS. Mr. Karl also serves as a principal liaison for the AICPA with the IRS and is responsible for tax ethical issues, which includes the management of the AICPA’s Statements on Standards for Tax Services. Finally, Mr. Karl oversees the tax division’s delivery of services to members, focusing on helping AICPA members provide the highest quality professional tax services.

Episode 3 – Controversial Tax

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With Halloween approaching, we’re covering a frightening topic for business owners: an IRS examination! Eric Fox and Jamie Brown—two tax attorneys with highly respected firm Ivins, Phillips & Barker—join host Damien Martin to break down tax controversy and explain why IRS exams don’t have to turn into a horror story.

Here’s what you’ll find in our latest episode:

  • Tax controversy explained @ 1:46
  • What business owners should do if they receive a notice from the IRS @ 6:09
  • It’s critical that you get someone involved early @ 8:57
  • Are there audit red flags with the IRS? @ 16:34
  • Considerations & action items for the new centralized partnership audit regime @ 19:38

Episode 2 – A Framework for Year-End Planning

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Last week Ed Karl—VP of taxation at the American Institute of CPAs—told us the outlook for tax reform remains unchanged following the newly proposed tax framework. With so much uncertainty, what should you do about your year-end tax planning? Is there a possibility we could learn more before year-end? And what’s next for tax reform efforts? Listen to find out.

  • What is a tax framework? @ 2:18
  • Why do we need a budget? @ 4:21
  • What’s the process look like for advancing tax reform legislation? @ 6:37
  • Is there an overall tax planning strategy we should keep in mind? @ 10:35
  • What are three year-end tax planning strategies we might consider? @12:19

Bonus Episode – Tax Framework with Ed Karl 

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The tax framework released on September 27, 2017, provides an outline of what the Big Six envisions for tax reform. The proposals call for the simplification of the tax code and a reduction in tax rates for businesses and many individuals.

OK, but what’s this framework mean in terms of the big picture on tax reform and for me personally? Host Damien Martin delivers a special bonus episode as Ed Karl, vice president of taxation at the American Institute of CPAs (AICPA), returns to the podcast to break down the following:

  • It’s what we were expecting @ 1:40
  • There’s some things we learned with the framework @ 3:32
  • But there’s some things we’ll have to wait and learn about @ 8:29
  • The word “unified” has a limited definition @ 14:38
  • Overall odds on tax reform remain unchanged @ 21:28

GUEST BIO: Edward Karl, CPA, is the vice president of taxation at the AICPA. He’s responsible for the review, formulation and submission of technical and policy recommendations for improvement of the federal tax process to Congress, the Treasury Department and the IRS. Mr. Karl also serves as a principal liaison for the AICPA with the IRS and is responsible for tax ethical issues, which includes the management of the AICPA’s Statements on Standards for Tax Services. Finally, Mr. Karl oversees the tax division’s delivery of services to members, focusing on helping AICPA members provide the highest quality professional tax services.

Episode 1 – Talking Tax Reform with Ed Karl  

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Tax reform is proving elusive. Host Damien Martin cuts through the headlines swirling around this fast moving tax topic with special guest Ed Karl, VP of taxation at the American Institute of CPAs (AICPA). Listen to get answers to these questions:

  • I’m feeling lost. Can you catch me up on what’s happened on tax reform so far? @ 2:26
  • What’s budget reconciliation? @ 7:30
  • Who’s the “Gang of Six?” @ 8:40
  • How should I approach year-end tax planning this year with so much uncertainty? @15:39
  • What are the odds of seeing tax reform? @18:08

GUEST BIO: Edward Karl, CPA, is the vice president of taxation at the AICPA. He’s responsible for the review, formulation, and submission of technical and policy recommendations for improvement of the federal tax process to Congress, the Treasury Department and the IRS. Mr. Karl also serves as a principal liaison for the AICPA with the IRS and is responsible for tax ethical issues, which includes the management of the AICPA’s Statements on Standards for Tax Services. Finally, Mr. Karl oversees the tax division’s delivery of services to members, focusing on helping AICPA members provide the highest quality professional tax services.

Damien is passionate about providing tax consulting and compliance services to privately held businesses and their owners. Born and raised in Northern California, he studied music as an undergrad before taking a hard turn toward a career in public accounting. It stuck, and he’s been helping clients resolve tax matters big and small for more than a decade. He and his wife, Charise, stay busy raising their twins, Miles and Lily, and training for marathons. You can follow Damien on Twitter @DamienMartinCPA or on LinkedIn.

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