Tax Video Library

The Tax Video Library

The following is the tax video library which includes a list of videos providing quick overviews in an easy to understand format. The videos are 1 – 3 minutes in length, and they address topics in the areas of individual and business taxation.

Check out the descriptions for each of item in the tax video library and find the topics that apply to your situation. These videos are also presented in a more compact format at this link: Tax Videos

Debt Collection: Know Your Rights

When you receive a threat to collect a debt, what can you do? The first place to start is to know your rights. Here are the basics.

2021 Business Tax Highlights

The pandemic continues to influence your business tax life, are you capturing all the breaks and changes? Here are highlights for what’s new in 2021.

Understanding Depreciation Recapture

It almost never fails to surprise clients when depreciation recapture is involved. A sold building that looks like a loss can easily create a taxable event! This video attempts to help clients understand the basics of depreciation recapture in a light hearted way.

Expansion of Child Tax Credit

The new Child Tax Credit currently in place for 2021, introduces tons of changes and multiple variables. This video is a great recap that will help save you tons of time explaining this credit.

2021 Individual Tax Highlights

Clients are either not thinking about this year’s tax obligation or are unaware of what is changing. Yet no one wants surprises. This video can help!

Tips to Organize Your Tax Records

Here are some simple tips to help preparing your tax return less of a chore. And if you do nothing else… follow this one tip.

This Simple Idea Can Save Thousands

Too often taxes paid during retirement are too high simply because tax planning is not understood. Here is a simple way to ensure your clients are ahead of the game…and the tax man!

Understanding the 1099-NEC

Beginning in 2020, nonemployee compensation must now be reported on 1099-NEC. While the 1099-MISC does not go away, using the wrong form is going to cause problems. This video can help clarify the inevitable confusion.

Understanding Head of Household Rules

Most of the time Head of Household is easy to use, but when it is in contention, it wastes time, creates confusion and ultimately loses a potentially lower tax.

Secrets to Maximize Social Security

Want a larger monthly check from Social Security? Here’s how.

Tax Terms: Unearned Income

Your unearned income is ripe for overpaying income tax. But not if you understand what to look for and ask questions

Understanding the Kiddie Tax

Your clients’ understanding of Kiddie Tax can be a long-term tax savings tool. It can also be a huge, unpopular tax surprise. This video can help create understanding.

New Retirement Rules

Deep within the pages of a government funding bill are changes to popular retirement plan rules. Here is what your clients will need to know.

4 Common Tax Surprises

The worst news you can give a client is a surprising tax bill. This video helps head off 4 of the most common areas of tax surprises faced by most clients.

Retirement can be Taxing!

Most clients do not realize the tremendous tax burden that occurs during their retirement years. This video gives four key areas where they could use your help.

Tax Terms: Effective Tax Rate

Lost in the noise of refunds or a tax bill when filing a tax return is the true tax paid by your clients. Understanding how to calculate the effective tax rate based on the amount of tax actually paid, is the starting point for developing tax reduction strategies for all your clients.

Tax Credit vs Deduction

Tired of explaining the difference between a tax credit and a deduction? This enjoyable, light hearted, video clarifies the difference in a very memorable way!

Tax Terms: Marginal Tax Rate

Use this video to help your clients understand what the marginal tax rate is and how they can use it to their advantage.

Tax-Free Rental Property

The opportunities for tax free income are pretty limited. With the advent of easy web-based rental tools, everyone should know about this one!

The IRS Loves Businesses

Too often, businesses make unwitting mistakes that are paid for when the IRS scrutinizes their taxes and business practices. The good news? The IRS is up front with you on what is in their audit focus. Now there is a video that helps you communicate this with your valued small business clients.

Five Yearly Tax Essentials

Here’s a video your clients should view each year. These 5 topics are sure to catch the unwary taxpayer, but with a quick review it can save both you AND your client time and money.

Tax Terms: Contemporaneous

Clients need to be fully aware of their documentation obligations. Mess up here and you lose lots of time and sleep trying to explain why the IRS disallowed a deduction.

The New World of Deductions: What Everyone Needs to Know

This video takes an in-depth look at the new rules surrounding itemized deductions.

Proving Your Deductions

Helps clients understand what is needed to document and defend their deductions.

The Child Tax Credit

Help clients learn how the recent changes to the Child Tax Credit affect them.

Ideas to Audit-Proof Your Tax Return

Sometimes the best defense in an audit is knowing how to prepare. Here are some great client ideas.

2020 COVID Relief

Deep inside a 5,500 plus page bill is additional relief due to the ongoing pandemic. Here is what you need to know.

COVID-19 Tax Update

There is a ton of COVID-19 assistance, but only if you know about it. Here is a great place to start.

COVID-19 Five Business Essentials

Help your business manage through the coronavirus pandemic with these five essentials.

Coronavirus Families First Response Act

Both companies and employees benefit from this new law when staying home because of coronavirus situations.

Is Your Paycheck A Tax Time Bomb?

An executive order allows employers to stop withholding employee Social Security through the end of 2020. But as it stands, employees must pay it back in early 2021. Clients need to check their paycheck!

Make the Most of Your Donations

Non-cash donations can really reduce a client’s tax obligation, but only if they know the rules.

Should You Delay Your Social Security

You can begin taking Social Security Retirement benefits from age 62 to age 70. When should your clients start? Every situation is different and this TaxVid tries to help.

How Long Should I Save It?

How long do I keep this? This video describes the Federal recordkeeping guidelines.

Five Great Tax Secrets

Clients overlook tax deductions. Here are five things every client should know.

The Tax Cuts & Jobs Act: Recap

Use this video to keep your clients on course and explain the Tax Cuts and Jobs Act changes in more depth.

Life Events: Marriage

Help clients understand the tax impacts of getting married.

Life Events: A New Birth

Help clients understand the tax impacts of having a baby.

Life Events: Divorce

Help clients understand the tax impacts of divorce.