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Austin City Life is an Acts 29 church plant in the city center of Austin, TX led by Vision and Teaching Pastor Jonathan Dodson. Austin City Life is a missional church that redemptively engages peoples and cultures. Austin City Life meets on sunday mornings at 10am at The Parish in Downtown Austin (214 E. 6th St).
For more information please see our website: www.austincitylife.org Austin City Life
Tips and techniques for people who have decided they can give their children a better education by teaching them at home -- and people who are thinking about diving in to homeschooling!

Contact info: send email to jay@jayjennings.com or leave a message on my telephone at (214) 615-6505 ext 2515
Homeschool Quick Start
Doxa Fellowship is a church restart in Woodstock, Illinois, in the outer ring suburbs of Chicago. Pastor Steve McCoy has been leading Doxa since 2004 to be a missional church for the glory of God and the good of the culture. We worship on Sundays at the beautiful and historic Waverly House in downtown Woodstock (214 Main St., across from the Woodstock movie theater). For more visit www.doxafellowship.org. Doxa Fellowship - Pastor Steve McCoy
This podcast contains the NicheStreet Pro (Formerly TelaBiz) pre-launch conference calls. The opportunity for membership and significant earnings is revealed and discussed in detail. Events unfold over the course of a few months, leading up to the official launch which is planned for September 2008. The new merger with Great Health Works and the addition of the Omega XL pain relieving anti-inflammatory product is announced on the historic "Featured" 8-7-08 recording. Call 214-615-6044, Ext. 1283# with your questions or comments. My Podcast Alley feed! {pca-5f095e9870f4adf0b431e54ffedfe30d} My Odeo Channel (odeo/e88983b1141a90fc) My Odeo Channel (odeo/e88983b1141a90fc) Niche Street Site Design SEO Podcast
Pat: And welcome to Tax Talk. This is Pat Dougher, Jeff Pickering CPA, Rex Hogue of Bollinger and Hogue in the North Texas area. We’ve got your tax answers. You know a lot of people listen to this show, they get so much information for their business, their personal information as far as how to lower your tax bill. I mean when you really get down to it, the more you know the more you get to keep. That’s what the show is really out to give you and help you with. Jeff you’ve got some deadlines coming up, why don’t we go right into those.

Jeff: Right. So our first deadline is actually a retroactive deadline. We reported that on the 17th if you are a nonprofit, if you’re a small group like a PTA, your gross receipts were under $25,000 a year, then previously you were required to file a Form 990 for Nonprofits. And this year that changed because of a law change back in 2006 and so we were telling people you need to file your extension. And the IRS has told people, you need to file the extension or you need to file your nonprofit form if you’re one of these little bitty nonprofits. And lo and behold, the IRS has recognized that many of them did not get the word and so Doug Shulman, the Commissioner, has said it don’t worry, we’ll figure something out for those of you who didn’t.

Pat: That’s really good. One of the things that I want to make sure is that people know they can call and get their questions answered at 214-787-1570, that’s 214-787-787-1570. If you’re outside the DFW area, it’s 800-583-1570 or #KLIF on your Sprint wireless phone. I know that there’s so much information people can get from us here on this, a lot of people wonder “can I call and with a question that’s not being covered on the air?” Yes. Taxes, estate planning and estate taxes, those are things that come up incidentally sometimes, and so if you’ve got a question, if you got a concern, if you have something that’s changing in your family then you want to call in at 214-787-1570. I know we’ve got more stories from…

Jeff: Sure. And I’d like to remind people on property taxes protests also are coming up, at least here in Collin County, the due date is May 30. Other counties have their own due dates so you might just check it out. If you want to protest your property taxes this is the month to do it in. Okay so we’ve got an American Jobs and Closing the Loopholes Tax Act. So this is an act that is designed to close some loopholes and some other stuff. So this is in Congress right now and it looks like it has some good legs on it, so it looks like many of the provisions are going to, it hasn’t actually passed yet, but it looks like it’s going to. There’s not a lot of discussion about the stuff that’s in this bill. So what we have on the good side, we have a year or more for the research credit, 15 year write-offs for lease hold improvements for restaurant buildings and improvements, the five year write-offs for farm equipment that’s extended. We’ve got the, people were able to deduct charitable contributions from their IRA and that’s saved them money; that’s in there another year. The enhanced deduction for food and book inventories, so that’s out there. On the bad side, let’s talk about the bad side, what loopholes are being closed, there’s a thing called carried interest and people in the real estate and the hedge fund business know what that is because that’s how they get paid usually. They get paid by having a share of the business, instead of getting paid in cash so they are going to close that loophole. Most people were getting their money in capital gains because they had a share of the business. That’s going to go away. Now that carried interest is going to be converted into ordinary income, at least 75% of it is.

Pat: Explain exactly what that would mean, as far as who’s the person, if they are in the real estate business, you’re saying they own a part of something? Clarify that a little bit.

Jeff: Yes. It’s easier to do it in the hedge fu Tax Talk May 23 with Jeff Pickering CPA Attorney Rex Hogue and Patrick Dougher on Asset Protection
A weekly blog detailing the incredible adventures of Kenny and Jon, residents of the glamorous Room 214 in Thompson Hall. Somewhere North Of Here
A weekly blog detailing the incredible adventures of Kenny and Jon, residents of the glamorous Room 214 in Thompson Hall. Somewhere North Of Here
Patrick: Welcome to Tax Talk. This is Patrick Dougher. We got Jeff Pickering CPA and we’ve got Brad Bolinger of Bolinger and Hogue or bigtaxlaw.com.
We have got a great show for you today. I know that many of you want to get your tax questions answered and so we encourage you to call in at 214-787-1570.
Jeff Pickering CPA, Masters in Taxation, Brad Bolinger CPA and Estate Attorney. So, we’ve got some real rich value and wisdom sitting at the table here. 214 -787-1570 for your questions on today’s show and how to save you some money this year on taxes.
And I will tell you we’ve got some real concerns with higher taxation. Earlier, before the show started, Brad was mentioning that it looks like we may be on the road to 60% for the small business owner. Wouldn’t you agree?
Jeff: Yeah, that’s right. We’re comparing all the taxes that somebody has to deal with and 60%. But, if you live in New York, that’s more like 70%.
Patrick: Ouch. Well, I know we’ve got several deadlines we want to go to before we get too far into the show.
Jeff: Sure.
Patrick: What are some of the deadlines?
Jeff: Yeah, we’ve got our usual March 31st deadline to buy a Ford Fusion or Mercury Mariner hybrid and get the credit, April 15th, the big one; individuals, partnerships, trusts, your first estimated payment.
Extensions is a big one. Extensions are big. There was a recent poll done that says Dallas is number four in filing later in the US. So, we have a lot of people that file extensions, apparently, in Dallas.
Remember, you have to pay the tax because the extension is not an extension to pay. It’s just an extension to file. And if you don’t know how much that is, you just kind of have to guess and pay your tax with the extension.
Brad: Folks, that’s a good point right now I want to bring up. I’m Brad Bollinger and I want to thank Jeff for inviting me here today.
There are some golden opportunities here and if you miss them, the window is shutting, so you need to take advantage of these tax tips, folks. These are real and they will make a difference in your taxes.
I want to thank Jeff for inviting me to talk about estate tax planning. I cannot overemphasize the fact that you’ve got to plan now and you’ve got to put some things in place because we’ve got important deadlines coming. And once those deadlines are past, it’s going to be too late.
The famous Roman emperor, Marcus Aurelius, his biggest quote was, “Life is more like wrestling than dancing,” and that it should stand ready and firm to meet onsets, however unexpected.
Folks, you’ve got to treat your tax planning like a wrestling match. You’ve got to put yourself in the right position and you’ve got to work at it because if you treat it like a dance, then come midnight, I think you’re going to end up owing a whole lot more taxes and missing out on golden opportunities. So, with that, Jeff, I’m looking forward to today’s topic.
Jeff: Great. Yeah, thanks Brad and by the way, for those of you who are interested to know what happened to Rex, we didn’t put him in a closet anywhere. He’s actually having fun in San Antonio. And Brad is the other half of Bolinger and Hogue and we’re glad to have him here.
So, we’ve got callers. We’re going to talk about the Obama thing, but let’s go. Let’s get somebody.
Brad: Very good. Okay. Rahm, you’re on the air.
Rahm: Yes, I got a 1031 exchange question. If I have [4:28 inaudible] property, let’s say, $200,000 and I want to exchange it, then I have to buy exactly $200,000 or if I buy, let’s say, $150,000 worth of property and then $50,000 might be profit on me or how does it work?
Jeff: Yeah, basically, the 1031 means you cannot touch the money. Otherwise, you get the tax consequences. And what it does is if you’ve got a $200,000 property, the gain is the part that gets rolled into the new property. By the way, your name is Rahm?
Rahm: Yes, Sir.
Jeff: Yeah. Were you a listener on our other radio show or did you just happen to find us?
Rahm: No, Si Tax Talk March 28 with Jeff Pickering CPA Brad Bolinger and Patrick Dougher on The Coming Tax Tsunami

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