Let's Talk Tax

By McGuire Sponsel

Welcome to Let's Talk Tax, a show for growth-minded professionals in tax. Whether you're crunching numbers in a CPA firm or managing real estate portfolios, we've got something for you. Our goal is to make tax concepts relevant, growth-minded, and, most importantly, understandable. Let's Talk Tax is designed for everyone, from entry-level associates to seasoned partners with clients seeking expert insights. So stay tuned, stay informed, and let's talk tax!

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Changes, Impacts, & Reflections on 2025

Let's Talk TaxDec 18, 2025

00:00

16:20

Changes, Impacts, & Reflections on 2025

Welcome back to Let’s Talk Tax Powered by McGuire Sponsel. In this season finale, host TJ Sponsel is joined by Tim LeMasters, fellow co-host of Let’s Talk Tax and Director of the Alliance Network, to discuss the significant changes in the CPA industry throughout 2025 and the impact on the firm. They delve into the impacts of the ‘One Big Beautiful Bill Act‘ passed on July 4th, the evolving advisory expectations, and the various opportunities and challenges faced by CPA firms.

The episode highlights the firm’s commitment to education and technical resources, examines newer service lines such as international tax, property tax, and location advisory, and underscores the importance of strong partnerships and proactive planning. The conversation sets the stage for anticipating trends and navigating the future as we move into 2026.

Thanks for listening. We will see you next season!

Dec 18, 202516:20

Tools to Effectively Develop High-Performance Teams

In this episode of Let's Talk Tax powered by McGuire Sponsel, host TJ Sponsel is joined by McGuire Sponsel's Chief People Officer, Kiley Ewing, to discuss why teams filled with talented individuals often underperform and how a focus on behavioral data, resilience, and accountability can transform a team's performance. They explore the types of stress that impact organizations, the importance of communication, and the value of radical candor.

Kiley also shares insights on using the Aptive Index for self-awareness and leveraging strengths within a team. The discussion extends to resilience, grit, and the role of vision and perspective in achieving a high-performing team.

Tune in for practical tips on developing a stronger, more effective team culture.

Thanks for listening. We will see you Thursday, December 18, for the next Let's Talk Tax episode!

Dec 11, 202525:38

What Keeps You Up at Night? Realities of Developing Leaders at CPA Firms with Arty Brieden

Welcome back to Let’s Talk Tax! In today’s episode, Jerry Hammel, CPA, is joined by Arty Brieden, Managing Partner and CPA, from Seidel Schroeder for an in-depth discussion on leading a modern CPA firm. They delve into the challenges of managing growth, investing in people, and maintaining strong client relationships. Arty shares invaluable insights on navigating people problems, planning gaps, and the importance of effective leadership. He also discusses the innovative programs at Seidel Schroeder aimed at developing next-generation leaders.

Tune in for a compelling conversation on elevating your CPA firm to new heights.

Thanks for listening. We will see you Thursday, December 4, for the next Let's Talk Tax episode!

Dec 05, 202529:08

The 90-Day Rule: Timing Is Everything in Location Advisory

In this episode of Let's Talk Tax, host Tim LeMasters is joined by Ben Worrell, MBA, a shareholder in McGuire Sponsel's Location Advisory Services (LAS) practice. They delve into the critical role of timing in capturing incentives and credits for businesses that are expanding, relocating, or investing in new facilities. The discussion highlights the valuable opportunities for CPAs to advise their clients on growth strategies, incentives, and compliance, ensuring maximum value is captured.

Ben shares insights from recent client cases and offers practical advice for CPAs to get ahead in the 2026 planning season. Tune in for expert tips on navigating the complex world of tax incentives and driving growth for your clients.

Thanks for listening. We will see you Thursday, December 4, for the next Let's Talk Tax episode!

Nov 21, 202522:59

Property Tax Power Plays: Winning the 2026 Appeal Season

In this episode of Let's Talk Tax, host Tim LeMasters and guest Matthew Barnhill discuss the upcoming 2026 property tax season. They delve into the importance of proactive property tax management, the current state of property taxes, and effective strategies for businesses to reduce their property tax liabilities. Matthew emphasizes the significance of early planning, appealing property assessments, and provides insights into the industries and states that will be most active in the new year.

They also share success stories from past appeals, highlighting the potential savings for businesses. This episode is a valuable resource for CPAs and business owners looking to optimize their property tax strategies.

Thanks for listening. We will see you next Thursday, November 20, for the next Let's Talk Tax episode!

Nov 14, 202520:03

Exploring the Tax Implications of the One Big Beautiful Bill Act

In this episode of Let’s Talk Tax, host Dave McGuire is joined by esteemed tax partner Joe Nicola, Jr., to discuss the significant impact of the One Big Beautiful Bill Act (OBBBA) passed earlier this year. Joe, who has a nationwide practice and is well-respected in the CPA profession with Sisterson, delves into various provisions of the new tax bill, including 100% bonus depreciation, section 179 expensing, section 174 research and experimental expenses, and the expanding business interest expense deduction.

They also examine year-end tax planning strategies and the importance of managing deductions to avoid falling into high net worth and high-income taxpayer pitfalls.

Thanks for listening. We will see you next Thursday, November 13, for the next Let's Talk Tax episode!

Nov 06, 202525:28

The Power of Data Mining in CPA Firms

Welcome back to Let's Talk Tax, the show for growth-minded CPAs and real estate professionals. In today's episode, host Justin Gephart and guest Jerry Hammel, CPA, dive into the untapped potential of your firm's records, also known as a data goldmine. They introduce 'Hidden in Plain Sight,' a practical framework for mining existing data to uncover growth triggers, embedding expansion opportunities into client relationships, and leveraging service lines at key moments in the client lifecycle.

Join us as we discuss how to make the most out of your existing client base and avoid the common pitfalls in expanding service lines.

Thanks for listening. We will see you next Thursday, November 6, for the next Let's Talk Tax episode!

Oct 30, 202521:16

Global Growth, Global Risk: Managing International Tax Compliance

In this episode of Let's Talk Tax, host Jerry Hammel, CPA, is joined by Catherine Yuan, CPA, a manager on McGuire Sponsel's Global Business Services team, to discuss the essentials of international tax compliance for business leaders. They cover the importance of early planning, understanding global operating footprints, managing data and reporting challenges, and the significance of having an organization chart. Catherine also shares insights on helping CPA firms with international reporting and the common roadblocks encountered during filing seasons. Tune in for valuable advice on staying compliant and strategic in global business expansion.

Thanks for listening. We will see you next Thursday for the next Let's Talk Tax episode!

Oct 24, 202520:03

The Planning Tool CPAs Can’t Ignore This Year

In this episode of Let’s Talk Tax, host Tim LeMasters and guest Kat Martin, Relationship Manager at McGuire Sponsel, share an exclusive preview of McGuire Sponsel's Planning Guide for Tax Year 2025. They discuss how this resource helps CPAs identify tax-saving opportunities—from cost segregation and property tax appeals to R&D tax credits, location advisory services, international compliance, and transfer pricing studies. Perfect for CPAs looking to streamline planning season, strengthen client conversations, and uncover overlooked savings.

Thanks for listening. We will see you next Thursday, October 23, for the next Let's Talk Tax episode!

Oct 17, 202521:18

When Marketing Becomes a Growth Strategy

Welcome back to Let's Talk Tax! In this episode, host TJ Sponsel is joined by Kelsey Brewer, MBA, the Chief Marketing Officer at McGuire Sponsel, for a deep dive into the evolution of marketing within the CPA industry. Kelsey discusses the changes in marketing strategies over recent years, emphasizing the importance of a coordinated and intentional approach. They explore how marketing is no longer an afterthought but a crucial part of a firm's internal strategy and growth.

Kelsey also shares insights on the integration of marketing technology stacks like Salesforce and HubSpot, the balance of technical and relational messaging, and the necessity of consistency and buy-in across the firm. Whether you're a marketing professional or a partner at a CPA firm, this episode is full of valuable insights for driving growth and building credibility in today's dynamic landscape.

For more details, visit mcguiresponsel.com or connect with Kelsey directly.

Thanks for listening. We will see you next Thursday, October 16, for the next Let's Talk Tax episode!

Oct 09, 202524:46

Rethinking Manufacturing: From Cash Flow Pain to Tax Opportunity

Welcome to Let's Talk Tax. In this episode, fellow Let's Talk Tax hosts TJ Sponsel and Justin Gephart delve into the evolving world of the manufacturing sector post-COVID-19, exploring supply chain shifts, workforce challenges, and automation. They discuss how CPAs can better support their manufacturing clients through strategies such as fixed assets, R&D tax credits, international tax, property tax, state and local incentives, and developing an advisory mindset. By focusing on proactive rather than reactive tax planning, CPAs can unlock significant value and cash flow for their clients.

Tune in for practical insights that will empower you to serve your manufacturing clients more effectively.

Thanks for listening. We will see you next Thursday, October 9, for the next Let's Talk Tax episode!

Oct 02, 202519:23

Why Data Might Be the Most Underrated Growth Tool in Your CPA Firm

In this episode of Let's Talk Tax, guest host Jerry Hammel, CPA, and Justin Gephart, a Shareholder and fellow Let's Talk Tax co-host at McGuire Sponsel, dive into the evolving world of data management in CPA and consulting firms. Focusing on strategies and systems that elevate performance, they discuss key areas including personnel management, client retention, process improvement, and strategic growth. They further elaborate on the role of AI, platform integration, and the importance of starting with data management now to avoid future risks.

This episode provides actionable insights for CPA and consulting firm leaders looking to leverage data for better outcomes.

Thanks for listening. We will see you next Thursday, October 2, for the next Let's Talk Tax episode!

Sep 25, 202522:26

Rev. Proc. 2025-28 & Section G: R&D Credit Updates

In this episode of Let’s Talk Tax, host Dave McGuire sits down with R&D experts David Seibel, EA, and Garrett Duffy to unpack two major developments reshaping R&D credit planning and compliance. First, they examine the IRS’s release of Rev. Proc. 2025-28, which clarifies how taxpayers can apply §174 expensing retroactively and provides key updates for 2024 returns. Second, they explore the growing significance of Section G and the heightened documentation standards now required for R&D credits.
David and Garrett share insights on the latest guidance, the compliance challenges ahead, and strategies firms can use to better serve their clients. This episode delivers practical context and timely advice to help you navigate these changes and plan effectively for tax year 2025.

Thanks for listening. We will see you next Thursday, September 25, for the next Let's Talk Tax episode!

Sep 18, 202521:21

Leadership Development in CPA Firms with Jeremy Clopton

Welcome back to Let's Talk Tax! In this episode, host TJ Sponsel and guest Jeremy Clopton from Upstream Academy discuss the importance of leadership development in CPA firms. Jeremy shares insights on how effective leadership can drive firms forward, emphasizing strategic planning, leadership retreats, and developing the next generation of leaders. They touch upon the evolving landscape of the CPA industry, the entrepreneurial spirit of new leaders, and the integration of leadership development into daily culture. Learn why timely succession planning and fostering a supportive environment are crucial for retaining talent and ensuring the long-term success of your firm.

Tune in for an engaging discussion on building future-ready leaders!

Thanks for listening. We will see you next Thursday, September 18, for the next Let's Talk Tax episode!

Sep 11, 202527:10

From Blueprints to Bonus: Where Cost Seg Tech Stops Short

In this episode of Let's Talk Tax, host Dave McGuire discusses the role of software and automation in cost segregation with guest Austin Brown, a leader in McGuire Sponsel's Cost Segregation practice. They dive into the typical project workflow, from proposals to calculations, and debunk myths around the process. Austin shares insights on how automation and AI are influencing cost segregation while highlighting the critical importance of professional expertise in making nuanced decisions.

Tune in to learn about the current and future landscape of cost segregation in the tax industry.

Thanks for listening. We will see you soon for the next Let's Talk Tax episode!

Aug 28, 202519:14

The Clients Who Called Early Got Paid to Grow: Did Yours?

Join us for a special episode of Let's Talk Tax as we dive into Location Advisory with host Justin Gephart and guests Brad Brown, CPA, of BMSS, and Chad Collier, Relationship Manager at McGuire Sponsel. We discuss the impact of current economic conditions on growing clients, the importance of proactive planning, and the benefits of Location Advisory Services, such as economic credits and incentives. Discover how staying ahead in planning can make a significant difference in business growth.

Don't forget to subscribe for updates on tax legislation and more!

Thanks for listening. We will see you next Thursday, August 28, for the next Let's Talk Tax episode!

About BMSS Advisors & CPAs

BMSS Advisors & CPAs was established in 1991 with the vision of creating a CPA firm that would provide peace of mind for its clients while sustaining a healthy, happy culture for its employees. As this dream has been realized, BMSS has grown to become one of the Southeast’s top advisory and accounting firms, now with seven offices throughout Alabama and Mississippi.

The CPA firm specializes in several industries, including (but not limited to) manufacturing, wholesale distribution, construction, technology, nonprofit, and government contracting. In addition to tax planning, compliance and assurance services, the firm boasts a robust business advisory practice area which includes transaction advisory, valuation, client accounting solutions, and CFO advisory services. BMSS also specializes in state and local tax, estate planning and employee benefit plan audits. Visit www.bmss.com to learn more.

Aug 21, 202526:22

Beyond the Bill: Turning Property Tax into Client Value

In this episode of Let's Talk Tax, we welcome Matthew Barnhill, the new Property Tax Services Manager at McGuire Sponsel. Matthew shares his expertise on property tax management, emphasizing the importance of proactive strategies for CPAs and business owners. The discussion covers assessment appeals, the impact of fixed assets, and the nuances of property tax across different states. Whether you're dealing with real estate, capital equipment, or new investments, this episode offers valuable insights for uncovering property tax savings.

Tune in to learn how to add value through effective property tax conversations. For more information, visit mcguiresponsel.com or reach out to our team directly.

Thanks for listening. We will see you next Thursday, August 21, for the next Let's Talk Tax episode!

Aug 14, 202510:30

“One Big Beautiful Bill” & International Tax: What CPAs Need to Know

Welcome back to Let's Talk Tax! In this episode, host Tim LeMasters dives into the complexities of the new One Big, Beautiful Bill (OB3) and its shifts in U.S. international tax law. Joined by Jason Rauhe, CPA, from McGuire Sponsel’s Global Business Services practice, they break down key updates such as GILTI (now NCTI), FDDEI, Subpart F, and BEAT, and explore the critical planning opportunities for CPAs and real estate professionals.

Whether you're advising clients with foreign subsidiaries or looking ahead to what's coming in 2026, this episode is packed with actionable insights. Don't miss it!

Thanks for listening. We will see you next Thursday, August 14, for the next Let's Talk Tax episode!

Aug 07, 202518:10

"One Big Beautiful Bill" & Bonus Depreciation, Cost Seg, & More: What CPAs Need to Know

Welcome back to Let's Talk Tax, the show for growth-minded CPAs and real estate pros navigating the ever-changing world of tax. In this episode, host Tim LeMasters is joined by Dave McGuire, shareholder and co-founder of McGuire Sponsel, to discuss fixed asset planning, bonus depreciation, cost segregation, and the contract date rules in the new OBBB legislation. They delve into scenarios involving the acquisition and renovation of properties, the impact of binding contracts, and the importance of accurate cost segregation studies. This episode is packed with critical insights for CPAs and advisors aiming to deliver maximum value to their clients.

Thanks for listening. We will see you next Thursday, August 7, for the next Let's Talk Tax episode!

Jul 31, 202525:17

"One Big Beautiful Bill" & R&D Tax Credits: What CPAs Need to Know

In this episode of Let's Talk Tax, host TJ Sponsel is joined by David Seibel, EA, a shareholder in the R&D Tax Credit practice, to discuss the impactful "One Big, Beautiful Bill" and its implications on the R&D Tax Credit. They delve into the new opportunities and challenges for small versus large taxpayers, risk mitigation strategies, and options for amending past returns. The conversation also addresses the significant changes for the 2025 tax season. Tune in for actionable insights and expert advice tailored for growth-minded CPAs and real estate professionals. Visit mcguiresponsel.com or connect with our R&D Team for more information.
00:00 Introduction to the "One Big Beautiful Bill"
00:22 Meet the Expert: David Seibel, EA
00:27 Understanding Section 174 Expensing
01:47 Impact on Small vs. Large Taxpayers
03:30 Key Provisions of the OB3 Bill
05:41 Guidance for CPAs and Clients
09:11 Compliance Strategies and Scenarios
19:56 Employee Retention Tax Credit Update
23:45 Conclusion and Final Thoughts

Jul 24, 202524:33

Breaking Myths: Helping CPAs Embrace Location Advisory Services

In this episode of Let’s Talk Tax, host ⁠TJ Sponsel⁠ is joined by guest Ben Worrell, MBA, to address why many CPAs hesitate to engage in location advisory services and economic development incentives. They discuss common barriers, such as confusion about timing and fee structures, as well as misconceptions that these services are exclusive to Fortune 500 companies. The conversation offers strategic insights for CPAs and business owners, examining the tangible benefits of these services, the importance of proactive planning, and the value of advocating for clients.

Tune in for practical advice on navigating and demystifying location advisory services to unlock substantial value for clients.

Thanks for listening. We will see you next Thursday, July 24, for the next Let's Talk Tax episode!

Jul 18, 202526:47

From Tariffs to Trust: Guiding Manufacturers Through the Specialty Tax Terrain

In this episode of Let’s Talk Tax, host TJ Sponsel is joined by Keith Habel, CPA/PFS, a shareholder at Honkamp, to discuss how manufacturing firms can navigate tax strategies in 2025. They delve into what makes manufacturing clients unique, current pain points, and planning opportunities such as R&D tax credits, IC-DISC, tariffs, and fixed asset strategies. They also explore state and local incentives, real-world examples, and specialty planning support from firms like McGuire Sponsel. Whether you are a CPA with manufacturing clients or a business leader planning ahead to 2026, this episode offers practical insights and proactive advice.

Tune in to learn how proactive collaboration between CPAs and specialty providers can drive real results for manufacturing clients.

Thanks for listening. We will see you next Thursday, July 17, for the next Let's Talk Tax episode!

Jul 10, 202533:01

Bonus Episode: Breaking Down the "Big Beautiful Bill"

In this bonus episode of Let’s Talk Tax, host Dave McGuire welcomes Jerry Hammel, CPA, for a timely breakdown of the sweeping new tax legislation known as the “Big Beautiful Bill.” Signed into law just days ago, this bill brings long-awaited changes to bonus depreciation, Section 174 expensing, and other key areas that impact tax planning for businesses of all sizes.

Dave and Jerry discuss how the return of 100% bonus depreciation reshapes capital investment strategies and why the finalized rules around Section 174 demand immediate attention—especially for taxpayers who failed to properly treat R&D expenses in recent years. With practical examples and expert insights, the conversation covers how CPAs and real estate professionals can navigate the new landscape and proactively position their clients for 2025 and beyond.

Don’t miss this critical discussion on what the new law means, what’s changed, and what advisors should do next.

Thanks for listening. We will see you this Thursday, July 10, for the next Let's Talk Tax episode!

Jul 09, 202522:37

TCJA Sunset & International Planning: Modeling What Comes Next

In this episode of Let’s Talk Tax, guest host Jerry Hammel, CPA, is joined by Greg Lambrecht, CPA, and Jason Rauhe, CPA, for a timely discussion on the future of international tax planning as we approach the potential sunset of the Tax Cuts and Jobs Act (TCJA).

They walk through the international provisions introduced by TCJA—Section 965 transition tax, GILTI, FDII, and Section 245A—and examine how possible changes to corporate tax rates could impact planning strategies going forward. The conversation highlights the critical role of modeling and scenario analysis in navigating these evolving rules and staying ahead of compliance challenges.

Whether you advise multinational clients or are monitoring the direction of corporate tax reform, this episode offers key insights to help you prepare for what’s next.

Thanks for listening. We will see you next Thursday, July 10, for the next Let's Talk Tax episode!

Jul 03, 202518:60

The Hidden Burden: Breaking Down Section G of Form 6765

In this episode of Let’s Talk Tax, host Jerry Hammel, CPA, sits down with David Seibel, EA — a shareholder in McGuire Sponsel’s R&D Tax Credit Services Practice — to unpack the new reporting requirements for Form 6765, with a deep dive into the implications of Section G.

They explore what’s changing in 2025, what it means for taxpayers and CPAs, and how firms can stay ahead of added compliance burdens. From automation strategies to professional guidance, Jerry and David share actionable insights to help you avoid IRS pitfalls and prepare with confidence.

Thanks for listening. We will see you next Thursday, July 3, for the next Let's Talk Tax episode!

Jun 26, 202528:30

Bonus vs. Section 179: Maximizing Depreciation Strategy in 2025

In this episode of Let’s Talk Tax, host Tim LeMasters is joined by Dave McGuire, shareholder and co-founder of McGuire Sponsel, to unpack the complexities of bonus depreciation and Section 179 expensing. Together, they explore the historical background, current rules, and what’s on the horizon for depreciation planning—especially in light of the Tax Cuts and Jobs Act of 2017 and potential updates under the proposed “Big Beautiful Bill.”

Whether you’re advising clients on fixed assets or planning for 2025, this conversation offers practical insights and real-world examples to help CPAs and real estate professionals build effective, forward-looking depreciation strategies.

Thanks for listening. We will see you next Thursday, June 26, for the next Let's Talk Tax episode!

Jun 24, 202524:41

Deals, Dirt & Dollar Signs: Inside Today's CRE Game

In this episode of Let’s Talk Tax, host Justin Gephart breaks down what business owners need to know about today’s commercial real estate (CRE) market. He’s joined by CRE expert Mike Semler and McGuire Sponsel Relationship Manager Chad Collier for a timely discussion on key trends—from the effects of remote work and rising interest rates to shrinking lease footprints.

They also explore why engaging a broker early matters, the realities of construction costs, and the creative incentives shaping modern deals. Tune in for expert insights and practical strategies to help clients navigate a shifting real estate landscape.

Thanks for listening. We will see you next Thursday, June 19, for the next Let's Talk Tax episode!

Jun 12, 202522:34

R&D Tax Credits & the One Big Beautiful Bill: Understanding Amortization and Proactive Planning

In this episode of Let’s Talk Tax, guest host Jerry Hammel, CPA, sits down with David Seibel, EA, Shareholder of McGuire Sponsel’s R&D Tax Credit practice, to discuss the “One Big Beautiful Bill”—a sweeping piece of legislation that has passed the House but still awaits action in the Senate. The bill proposes to restore immediate expensing for R&D costs under Section 174 for tax years 2025 to 2029, reversing the amortization requirement that’s been in place since 2022.

Jerry and David break down what this means for CPAs, including the importance of proactive planning for both the retroactive and prospective implications of the bill. They also discuss audit risks, compliance strategies, and how to maximize the R&D Tax Credit amid uncertainty.

Thanks for listening. We will see you next Thursday, June 12, for the next Let's Talk Tax episode!

Jun 05, 202521:60

Property Tax & Vacancy Rates: How to Strengthen Appeals for Clients in a Rebounding Market

As businesses continue returning to physical office spaces, commercial vacancies are reshaping property tax assessments across the country. In this episode of Let’s Talk Tax, hosts Tim LeMasters and Justin Gephart sit down with Property Tax Consultant Tanner Cox to explore how shifting occupancy trends are creating new opportunities—and challenges—for property tax appeals. They unpack how vacancy rates influence valuations, walk through the three primary approaches to property assessment (cost, market, and income), and share real-world insights from states like Texas and Florida. The discussion also covers must-have documentation for successful appeals, how natural disasters can alter assessments, and creative ways to approach underutilized properties.

Whether you’re advising clients in a high-vacancy market or navigating evolving property tax dynamics, this episode is packed with practical strategies to strengthen appeals in today’s rebounding environment.

Thanks for listening. We will see you next Thursday, June 5, for the next Let's Talk Tax episode!

May 30, 202523:09

Tariffs, Transfer Pricing, & Incentives: Turning Global Uncertainty into Strategic Opportunity

In this episode of Let’s Talk Tax, guest host Jerry Hammel, CPA, discusses planning opportunities in the current tariff environment with Jason Rauhe, CPA, and Ben Worrell, MBA, from their respective practices. They explore transfer pricing, Location Advisory, and how businesses can leverage these strategies amid tariff uncertainties. Essential listening for growth-minded CPAs and real estate professionals, the episode provides insight into mitigating risks, understanding the importance of timing, and identifying potential incentives without hefty investment. Join the conversation to learn how to turn global uncertainty into strategic opportunity.

Thanks for listening. We will see you next Thursday, May 29, for the next Let's Talk Tax episode!

May 22, 202522:29

Spotting Real R&D: How to Qualify Tax Credit Claims in Specialized Fields

In this episode of Let's Talk Tax, hosted by Tim LeMasters with guest Tanner Niehaus, CPA, the focus is on understanding what makes a client truly qualified for the R&D Tax Credit. The conversation delves into industry-specific qualifications, IRS guidelines, and the importance of proper documentation. They also cover common disqualifiers and red flags, touching on various industries like tech, government contracting, and bioscience. Additionally, the episode highlights the unique challenges and opportunities for startups, emphasizing the importance of utilizing R&D Tax Credits to offset payroll taxes. This informative discussion aims to help CPAs and real estate professionals better serve their clients by identifying genuine R&D efforts and navigating the complexities of tax compliance.

Thanks for listening. We will see you next Thursday, May 22, for the next Let's Talk Tax episode!

May 15, 202523:50

How the New Administration is Reshaping Tax Policy

In this episode of Let's Talk Tax, host Dave McGuire and guest Jerry Hammel, CPA, discuss the first 100 days of the new administration and its impact on tax policy. They examine the changes in corporate tax law, potential tax reforms, and funding challenges under a balanced budget act. The conversation covers various proposals, including those related to R&D expenses, bonus depreciation, and the Child Tax Credit. They also explore the implications of tariffs, IRS workforce reductions, and the intricacies of tax planning. Tune in to gain insights into the evolving landscape of tax legislation and its effects on businesses and tax professionals.

Thanks for listening. We will see you next Thursday, May 15, for the next Let's Talk Tax episode!

May 08, 202524:29

What You Can Expect During Season 2

In this special episode of Let’s Talk Tax, hosts Justin Gephart and Dave McGuire discuss the impact of recent elections on tax legislation and potential opportunities for CPAs and real estate professionals in 2025. They cover topics like the expiring TCJA provisions, tariffs, state-level property tax discussions, and key legislative changes expected in the coming year. Justin and Dave also introduce the new format for Season 2, which includes guest panels featuring industry experts to provide real-world insights on the tax code’s impact. Tune in for a preview of the exciting changes and discussions in our upcoming season.

Thanks for listening. We will see you next Thursday, May 8, for the next Let's Talk Tax episode!

May 01, 202515:54

Reflecting on Season 1

Join Tim LeMasters and TJ Sponsel in this special episode as they recap the highlights of Season 1 of Let's Talk Tax. They discuss the show's inception, the importance of providing technical resources to CPA firms, and how the season helped guide professionals through complex tax legislation. This episode also touches on memorable moments, such as the impactful conversations with Sarah Turner about leadership and people development. Looking ahead, Tim and TJ provide a sneak peek into the exciting plans for Season 2, including the introduction of external experts and the emphasis on continued technical excellence. Whether you’re a long-time listener or just discovering the podcast, this episode is your perfect entry point.

Thanks for listening. We will see you next Thursday, May 1, for the next Let's Talk Tax episode!

Apr 24, 202520:45

Paths to Correction: Tackling 174 Amortization

In this episode of Let's Talk Tax, host ⁠TJ Sponsel⁠ welcomes back guest ⁠David Seibel⁠, principal of McGuire Sponsel's ⁠R&D Tax Credit Services⁠ practice, to discuss the implications of IRC 174 amortization. They delve into the expected permanence of these regulations for the 2024 tax year, the likelihood of changes in 2025, and the potential impacts of retroactivity. Their conversation also explores corrective actions for CPA firms and clients who have yet to comply with IRC 174, providing crucial insights for navigating this complex landscape. Stay tuned to understand the balance between compliance and mitigation of tax burdens in the evolving tax environment.

Thanks for listening. We will see you next Thursday, November 28th, for the next Let's Talk Tax episode!

Nov 21, 202421:49

What Election Results Could Mean for Upcoming Tax Legislation

In this episode of Let’s Talk Tax, hosts TJ Sponsel and Dave McGuire are joined by guest Jerry Hammel to discuss predictions on tax legislation following the recent election. They explore the potential impacts of President-elect Trump’s policies, the Byrd Rule, and the challenges in making tax provisions permanent. The team covers key topics such as tariffs, the future of the TCJA, tax planning strategies for businesses, and the likelihood of changes to individual and corporate tax rates. They also touch on the importance of staying proactive in tax planning amidst a legislative environment filled with uncertainty. Tune in to gain valuable insights for navigating the upcoming tax year and beyond.

Thanks for listening. We will see you next Thursday, November 21st, for the next Let's Talk Tax episode!

Nov 16, 202424:15

The Art of Site Selection: Key Considerations for Business Growth

In this episode of Let's Talk Tax, host Justin Gephart discusses site selection and its crucial role in business growth with guest Ben Worrell, a principal in McGuire Sponsel's Location Advisory Services. They explore the various factors influencing site selection decisions, such as workforce availability, utility rates, land accessibility, and local infrastructure. The discussion also covers the impact of energy resources, water issues, and labor force challenges on site selection. As states compete to attract businesses, Ben highlights the importance of incentives and the evolving role of community amenities. Additionally, they address international considerations and the complexity of site development processes in the U.S., emphasizing the importance of efficient planning and adaptation to varying state and local requirements.

Thanks for listening. We will see you next Thursday, October 17th, for the next Let's Talk Tax episode!

Oct 10, 202414:40

From Policy to Practice: The Historical Landscape of Cost Segregation

In this episode of Let's Talk Tax, host ⁠Tim LeMasters⁠ discusses the history and intricacies of cost segregation with expert Dave McGuire⁠. The conversation covers the evolution of cost segregation from its origins to its modern applications, highlighting pivotal moments like the Hospital Corp. of America v. Commissioner case that shaped current practices. Dave also provides insights on tax planning techniques, the role of REITs, land valuation issues, and common misconceptions. As tax laws continue to evolve, this episode provides valuable information for CPAs and real estate professionals to navigate the complexities of bonus depreciation and cost segregation.

Thanks for listening. We will see you next Thursday, October 10th, for the next Let's Talk Tax episode!

Oct 04, 202423:06

174 Is Not Going Anywhere

In this episode of Let's Talk Tax, host TJ Sponsel welcomes back guest David Seibel, principal of McGuire Sponsel's R&D Tax Credit Services practice. They discuss the ongoing uncertainty surrounding Section 174 and its impact on CPAs and the R&D Tax Credit. Despite hopes for legislative changes, Section 174 amortization remains in place for the 2023 tax year, potentially extending to the 2024 tax year and beyond. David explains the implications of this, including compliance steps and documentation requirements for affected companies. They also touch on new compliance measures for the R&D Tax Credit in 2024 and offer insights and tips for CPAs and companies navigating these challenges.

Thanks for listening. We will see you next Thursday, October 2nd, for the next Let's Talk Tax episode featuring Tim LeMasters and Dave McGuire!

Sep 26, 202421:40

Maintaining Culture in a Changing Environment

In this episode of Let's Talk Tax, host TJ Sponsel continues the conversation with guest Sarah Turner, president of Lumino Leadership, on the topic of people development. The discussion focuses on the importance of building, maintaining, and scaling company culture, emphasizing the critical role of consistent behavior and open communication. Sarah provides insights on understanding culture, the action trap, and the results pyramid. She illustrates the importance of support, coaching, and transparent conversations in nurturing a healthy organizational culture. TJ adds practical examples from McGuire Sponsel, highlighting the challenges and successes in sustaining a growth-oriented culture. Tune in for valuable tips on fostering an empowered and communicative work environment.

Thanks for listening. We will see you next Thursday, September 26th, for the next Let's Talk Tax episode featuring TJ Sponsel and David Seibel!

Sep 19, 202422:03

Cultivating Leadership in CPA Firms

In this episode of Let's Talk Tax, host TJ Sponsel is joined by first-time guest Sarah Turner, President of Lumino Leadership, to discuss the necessity of professional development within CPA firms. Sarah shares her unique journey from public accounting to becoming a leadership consultant and emphasizes the importance of developing dynamic leaders through customized training and coaching. Their conversation touches on the transition from technical training to holistic development, the role of organizational support in career growth, and the challenges and benefits of remote work environments. TJ and Sarah also highlight the significance of setting realistic expectations for employee growth and explaining the 'why' behind organizational decisions to enhance employee engagement.

Thanks for listening. We will see you next Thursday, September 12th, for the next Let's Talk Tax episode featuring TJ Sponsel and David Seibel!

Sep 05, 202422:35

The IC-DISC Advantage: Maximizing Export Tax Savings

In this episode of Let's Talk Tax, host TJ Sponsel and guest Jerry Hammel, a shareholder at McGuire Sponsel, delve into the intricacies and benefits of the IC-DISC (Interest Charge Domestic International Sales Corporation) tax incentive. Their conversation covers the history and development of IC-DISC practices, the opportunities for tax savings through export transactions, and the calculation methods used to maximize benefits. They also address common myths about IC-DISC, the compliance requirements, and the potential impact of future tax law changes. Tune in to learn how manufacturers and exporters can leverage this often-overlooked area of tax law to improve their financial outcomes.

Thanks for listening. We will see you next Thursday, September 5th, for the next Let's Talk Tax episode featuring TJ Sponsel and Sarah Turner!

Aug 29, 202422:29

Strategic Growth in the Southeast for CPA and Real Estate Pros

In this episode of Let's Talk Tax, host Tim LeMasters is joined by Mike Hammel, MAcc, a relationship manager at McGuire Sponsel. They delve into the burgeoning industries across the Southeast, focusing on government contracting, real estate development, and international investment. Mike shares his journey at McGuire Sponsel and discusses the strategic opportunities and challenges faced by CPAs in the region. They also highlight the impact of private equity, M&A activities, and the significant role of international tax structuring. Tune in to gain insights on navigating the dynamic Southeast market.

Thanks for listening. We will see you next Thursday, August 29th, for the next Let's Talk Tax episode featuring TJ Sponsel and Jerry Hammel!

Aug 22, 202421:35

IRC 41 & 174 Uncertainty: What Every CPA Should Know

In this episode of Let's Talk Tax, host TJ Sponsel and first-time guest Garrett Duffy delve into the technical distinctions between Sections 174 and 41 of the tax code. They discuss the challenges CPAs face when advising clients on these R&D tax credits, the misconceptions surrounding them, and the industries most affected. Tune in to gain insights on how to navigate these complex regulations and the broader implications for small and large businesses alike.

Thanks for listening. We will see you next Thursday, August 15th, for the next Let's Talk Tax episode featuring Justin Gephart and Emma Coney!

Aug 08, 202418:19

Evolution of Real Estate Trends & Tax Implications

This week on Let's Talk Tax, host Tim LeMasters is joined by Dave McGuire, a shareholder at McGuire Sponsel, to delve into the intricacies of tax planning and real estate trends. Drawing from his 26 years of experience in depreciation and cost segregation, Dave covers the evolution of real estate markets, the impact of changing interest rates, and the opportunities presented by distressed properties. They also discuss the significance of opportunity zones, current tax implications, and the benefits of maximizing deductions and utilizing various tax credits, including those from the Inflation Reduction Act. Tune in for a thorough exploration of strategic tax planning and real estate investing during these dynamic times.

As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Thanks for listening. We will see you next Thursday, August 8th, for the next Let's Talk Tax episode featuring TJ Sponsel and Garrett Duffy!

Aug 01, 202432:15

Strengthening Client R&D Tax Credit Claims: Key Areas Often Overlooked

This week on Let’s Talk Tax, host TJ Sponsel welcomes first-time guest Audrey Carnall, a senior tax consultant at McGuire Sponsel, to discuss the intricacies of R&D tax credit documentation. Audrey provides valuable insights on the fieldwork process, new requirements from the IRS, and how companies can better prepare for upcoming changes. This episode delves into the importance of proper documentation, the challenges faced by various industries, and the benefits of on-site fieldwork for clients.

As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Thanks for listening. We will see you next Thursday, August 1st, for the next Let's Talk Tax episode featuring Tim LeMasters and Dave McGuire!

Jul 25, 202420:40

Identifying Growth Opportunities in Manufacturing & Other Industries

This week on Let’s Talk Tax, host Tim LeMasters and guest Reid Pittard, Relationship Manager in McGuire Sponsel's Location Advisory Services, discuss identifying credit and incentive opportunities for clients. Reid shares insights on compliance complexities, timelines, and key triggers for leveraging economic development incentives across various industries. Learn about real case studies and the critical steps CPAs and real estate professionals should consider when helping clients tap into these financial opportunities.

As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Thanks for listening. We will see you next Thursday, July 24th, for the next Let's Talk Tax episode featuring Tim LeMasters and Dave McGuire!

Jul 18, 202424:55

Is Your Firm Built Properly to Scale International Tax?

This week on Let's Talk Tax, host TJ Sponsel and guest Greg Lambrecht discuss strategies for building a successful international tax practice. This episode covers the history and growth of McGuire Sponsel's Global Business Services practice, common challenges CPAs face with international tax compliance, and the importance of transfer pricing. Learn about the pitfalls and myths surrounding international tax forms, compliance, and how to support client relationships effectively. Greg shares his insights and real-world examples from his extensive experience in public accounting and international tax.

As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Thanks for listening. We will see you next Thursday, July 17th, for the next Let's Talk Tax episode featuring Tim LeMasters and Reid Pittard!

Jul 11, 202424:59

Building Trusted Partnerships

This week on Let's Talk Tax, host Tim LeMasters and returning guest Jerry Hammel, a seasoned CPA with over 30 years of experience, delve into the importance of building successful and trusted partnerships in the realm of tax services. Their discussion focuses on the strategies and due diligence required to find and collaborate with specialty providers, using cost segregation as a primary example. Jerry shares his vast knowledge on how to evaluate potential service providers, the importance of marrying engineering with tax knowledge, and the value of long-term professional relationships.

As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Thanks for listening. We will see you next Thursday, June 27th, for the next Let's Talk Tax episode featuring Dave McGuire and Craig Fouts!

Jun 20, 202420:49

Technology Trap Doors and the R&D Credit

This week on Let's Talk Tax, host TJ Sponsel is joined by guest Richie Abedin, a Senior Tax Consultant specializing in R&D tax credits for technology-minded clients. They discuss the intricacies of the R&D tax credit, especially as it relates to artificial intelligence (AI) and other emerging technologies. Key topics include the differences between automation and AI, the nuances of qualifying research activities, and the myths surrounding R&D and software development. The episode also delves into industry-specific scenarios like managed IT providers, SaaS providers, and companies investing in dual-purpose technology. Richie provides expert insights on what qualifies for the R&D tax credit, the challenges clients face, and the importance of proper documentation.

As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Thanks for listening. We will see you next Thursday, June 20th, for the next Let's Talk Tax episode featuring Tim LeMasters and Jerry Hammel!

Jun 13, 202423:24