7 Burst results for "Gordon Gate"
"gordon gate" Discussed on KHVH 830AM
"Got everything done there. Then we can work out a payment plan for you. So that something that's affordable on that the state will accept that. At least now. You got peace of mind at night knowing that okay, All of this is behind me. I just got to make my payments moving forward. Let's take federal sides, Same situation and federal works pretty much the same way itself to. Um you know what happens is is. People tend to bury their head in the sand. You know they get the notice is coming in the mail, and they never open them on, so we encourage them hate bring all of this stuff in tow us. It's not unusual for us to see people that haven't filed taxes for 10 years. And so what we do is we sit down. The first thing we do is take a power of attorney with them so that it allows us to represent them with Iris. So now I access the iris records and see exactly what do they have? Okay, because everybody has to report today because of the Elektronik documents and everything. And then we can set a road map that says Okay, here's what we found. Here's what we can negotiate with them. And either we can do potentially an offering compromise. Or we could do an installment plan or if you're not working. Like many the case for many people right now we put you into what's called not collectible status. In other words, Hey, there's no money. You cannot get any any blood out of this. Turn up, so they'll basically put you on hold until such time as you start working again. And we revisit that in another six months or a year, and they can't put you on a payment plan itself. So now your current everything is caught up in the eyes of the I R s. You're on good graces again. If you have an outstanding tax bill, and it supersedes your network. His bankruptcy and option and does bankruptcy. Dismiss the obligation to the I arrest in the state? Potentially it can at the What has to happen is number one. You have to make sure your current on all your tax returns. Then once you go into bankruptcy and your attorney, your bankruptcy attorney should be able to work with you on this. Typically, you can file Your old tax returns. Up to three years ago. So in other words, if you filed tax returns in the last three years, you typically cannot include that in your bankruptcy. And before you go that route with the bankruptcy, let's sit down and talk story because you know there you may potentially be able to do an offer in compromise. I know a lot of people here. The late night shows that hey, pennies on the dollar and everything like that, and we try to encourage people to be careful about that. Because a lot of war call centers. So what happens is they just want your money. They take your $2500 up front and then they get back to you later and say sorry you don't qualify. Now you out the 2500 and you still in the same boat. What happens is it's a mathematical equation, So it basically says I'm working. Here's my bills. Here's how much money is left over. If there's not enough money left over the Iris is willing to take less than what you all right on. That's typically going to be a lump sum payment. So as we caution people is Maybe you got to go borrow from Uncle or auntie or somebody like that. But if that $2000 is going to pay off the $30,000 debt that you have, let's do that and then have a clean slate. But the conditions in method medical conditions. Revenue and debt. Would obviously helped would determine the Oh, I see. Uh, what is your experience with the percentages of people with their revenue and their debt? That the arrest would recognize yes, will engage in this always see, on average. The iris gets probably and this year's probably a lot more. But typically, it's about 70,000 offers and compromise teach you that they received And about 40% of them get some type of approval there where you're settling for last year for nothing at all. But all I see is not the only route to go. We just had a client here that Had a text tax bill of 300 almost 400,000 and so couldn't qualify for all I see, because he made too much money. He got all of this from rental property that he never claimed income on. And so what? It happened, though, this this bill was established. 12 years ago, and a lot of people don't realize And of course, it's not something Iris is going to publicize is that after 10 years You could actually contact the arrests fill out the paperwork, and they have to forgive that amount on and in this case, his case slipped through. Uh, the irises files. You know, the 10 year expiration date was appalled. They have to forgive the whole four in 2000. Well, Work with Gordon Gates, Gordon Gates of Tax Services of a white Gordon telephone number and website eight. Wait 5 to 9 10 40 on our website is tax services of hawaii dot com. Want to thank you for joining us today. We're up against the clock. But it was delight having you with us and continued continued good work and success. Mahalo for Ah, allowing us to share a little bit of Armando. All with you today. Have a great day. Big pleasure, indeed. Thank you very much Court and by the way, stay with us. We have bottom of the hour news coming up. Free healthcare hundreds to more than $1000 per.
"gordon gate" Discussed on KHVH 830AM
"Plus penalties and interest. Ka chip. Goodness, by the way, Um can I cover P P p money's and even loan monies that were received by businesses, etcetera. One of the tax implications of loan money. Want keeps changing. It morphs. Every time Congress gets together, and who knows what's gonna happen when the next relief bill comes out, But as it stands today, what they've done is, they've said Money that you received for P p p. If you've properly used it for payroll rent utilities, etcetera. Initially, they said, you could not take those as deductions on your tax return. Now they've changed their mind and said, Hey, we're gonna tell the I arrest that we're gonna allow you to do that. And that money from the P P p becomes tax exempt income. So you pay no taxes on that, so it is free money. And so we encourage people to go ahead and one get their loan applications done for the new one. Yeah, because this new p p p, which came out a couple weeks ago. The only difference in this one is you truly have to show that you have a loss in 2020 has compared to where your business was in 2019, so part of the application says. Show me what quarter in 2019 and 2020 that you had a 25% reduction. Right? All right, then. You then you got the money itself. What's great, especially for our restaurants are local restaurants and we have a lot of business owners. That we work with. They get 3.5 times. On the P P. P s. Oh, it's a great opportunity for them to at least get the money and be able to use it for business expenses and again all of that it becomes tax free money at the end. You know, there's different forms of income and revenue. You mentioned restaurants, the restaurant card. If people receive that it is of value. But is it text? Do you have to report that on your taxes at that point? Guidance hasn't come out on that. You know, they give the card out. Those were at $500. Typically re portable is $600 and above. But we're still waiting for Legislature to come out and say Okay, here's what we're going to require. With a deadline April 15th of people want to file beforehand they file based on what we do know not on what is speculative, correct and part of what's happening now is the Iris knows they're making changes still do tax code. And so they're not accepting tax returns right now until February, 12, right? And we don't know. You know, Last year they extended everything I'll tell, you know, June so we don't know if they're gonna do the same thing again this year as well. Goodness talking with Gordon Gates once again. Tax services Hawaii and if you could fiscal office or everything's best online by phone. We do have a physical officer right downtown and Davis Pacific Center s. So we've been there for five years. And we also do a lot of stuff online. I do a lot of zoom happy with clients technology. Fortunately for us, you know, over the last year, 10 years probably. We've We've really enhanced our technologies to the point where a lot of our clients probably 65 70% never even come in anymore. They upload all of their documents to a secure portal. Kind of like with the banks have on weak and then prepare their tax returns. Send it to only electronically we could talk story on the phone or via zoom, sign everything electronically and get everything filed. Is there a tax application or deductibility for the sorrow that Dallas Cowboy fans had this year? Oh, that's cutting. That's gotta get close there. Oh, there we go. I see Scott in there too. I feel your pain too well. And so what? Percent enough? Just get all right. Talking with Gordon Gates. Um One final on this area, which leads to the next. Documentation. What is your advice to folks whenever there is a financial and impactful financial event to document and retain As much as you can or everything. The rule of thumb is you want to keep the last three years of documents that you have, and we encourage people to many people are under the misconception that if I have a canceled check, or I have a bank statement, or I have a credit card statement that this is gonna work for documentation purposes. Yeah, if we could end up going all the way to tax court, but actually, we could get that as an acceptable document itself. But we tell people Hey, just scan your recede in, you know, nowadays because of all of the smartphones that we have. It's so simple. Just take a picture. Save it to your cloud, And then if we ever get audited and need to produce these, it's simply not for us to go ahead and put him out, provide them to whoever the virus of the state that wants to see this stuff, but it's important to keep that. I'd like to transition Don't mind in the time remaining, and by the way, 9 19 in the morning news radio. A 30 K to H road to recovery is a way for us to get to know local businesses helping other local businesses but also Destination for you for product and service that you perhaps would be able to utilize. While supporting Local businesses want to go to individuals. In people who, perhaps during all of this or before, are going in taxes and let's take state first. If someone has a sizable State tax bill on has not been able to pay in. Two for years or more. What advice do you have? Interesting enough. We find that especially here in the hole, I we find a lot of people that get into trouble like this on a lot of it is with the G packs. You know, you might have a rental property itself, or you might have a small business that you operate on the side. And when you first applied for your G tax, they gave you a number. What happens is, you know people forget the report. And next thing you know, three or four years have gone by and now what's happening and we're seeing more and more over the last couple of months is the state because of their deficit. Is trying to chase down money. And this is one of the biggest areas itself. And unfortunately they're hitting a lot of the Airbnb people that had advertised on Airbnb and never paid the attacks and the T attacks on that s O. Now, what's happening is that they're coming forward and you're having to file your returns Get caught up. That's exactly what you need to do once your power and.
"gordon gate" Discussed on KHVH 830AM
"With us. Program No. Once again one week from today we begin our segment. Ask the mayor. And Rick's gonna be here in studio every Wednesday at 7 A.m.. And the mayor will take your questions. That's what is called asked the mayor, and I want to thank Rick very, very, very much. Accepting the invitation. I'm gonna put a call out to Natalie Awassa hopefully connect with her tomorrow or Friday. She is urging that the heart board undergo what is called a fraud hotline and as the new member nonvoting member of the hardboard We'll get caught up with Natalie. Then, of course, the Goodfellas coming up on Friday with wine it nine and all of that road to recovery continues. I'm delighted that we have so many of our friends. Here at home that have coming onboard, letting us know what we should and need to know about their business, their efforts their experiences. Doing business in the climate in which we find ourselves But with our guest this segment in regard to people who have either benefitted or unfortunately adversely affected. When it comes to their taxes, which is so very important, Gordon I want to thank you very much for coming in with us. And again, Gordon Gates with us today and how you I'm doing awesome there, Rick Mahalo for having me on board. It's a pleasure. Pleasure to meet you Tell us about your company Tax services of Hawaii. Dexter was a white been around since 2008. It's interesting story. How we got there, You know, Um I'm born and raised on me. Okay, Commitment graduates grad. I've been in the main line for the last 30 years on. What happened was my youngest son haven't ended up getting into commitment as 1/7 grade border. Also, we were traveling back and forth my wife and I and, you know we're having to pay that out of pocket. So I said there's gotta be a way I could make this tax deductible. Well, of course, The easiest thing was to form a business over here, eh? So we opened up tax services of Oy. And now it allowed me to travel back and forth and be able to write that off on our taxes. And then what we've done here is we've developed. You know what we call a niche market. We deal with a lot of the small to midsize business owners because Truth be told. Those are the ones that we can help the most. A lot of people that are just W two's have a mortgage. People are surprised when they call in and we tell them. Hey, just use something off the shelf or online because your tax return is really simple. What we stress is that you know, we want to do tax planning and tax strategies and really, for the small to midsize business owners. Those are the ones that we can help them off. That's great whereabouts on the mainland where you still have an office out of Huntington Beach. Huntington Beach, actually wasn't that wasn't Nevada for 10 Years in Las Vegas, you store for the old Sands Hotel as the internal audit director over the isn't that something? Friends with Sam Boyd and all the properties there and all that. I love love, Vegas and New Adelson. You know, he just passed away. And Sheldon Yeah. Goodness gracious, great experience. Huntington Beach have a connection there. I was in the cruise business like when I was younger. This was a Noah's Ark. I mean, that's how old I am. But no, my agent was in Huntington Beach and that he's one of got me started working. The cruise business ended up as a cruise director, which brought me to Hawaii years and years ago. So we have a little, absolutely geography. Southern California's beautiful but it's always good to come home. Yeah. Amen. Amen. Like to cover a couple of different areas. If you wouldn't mind because the days of which we live I just spent Gosh, good couple of hours going through the tax increase proposals that are being made by the Legislature. But under covert, we have a lot of different areas where people might have questions. About revenue income in taxes like to start with unemployment. If you don't mind, we've had some issues with the disbursements. Yes, but it is still being received. By a section of our of our friends is somebody receives unemployment Money's How is that reported on their taxes. So what'll happen is the state will end up sending him and he should come out By the end of this month. They'll actually get a tax form that says Here's how much unemployment benefits were paid to you out in 2020, unless you specifically told them when you started collecting or unemployment benefits to take out taxes. There's no tax is being taken out. Unfortunately do is that that income is taxable on your federal income tax return. So some people gonna be live It surprised when they get that, especially if they got that extra $600 a week, Right? You know that. That can be a pretty big number. Yeah, I can. State. No tax, no tax on the states, Okay. When you are when you accepted you pay that tax on and it has to be paid all at once, or can it be Paid in increments. How does that Because I'm thinking of GT. Will you pay quarterly? And is there any way for that? You know this one what'll happen is when you actually file your 2020 tax return this year. It'll come up with and say OK, based on your other income that you have for the year. Here's what your tax liability is. Typically Iris, you know, they want their money right away. But you can go on an installment plan on spread that out over a period of time. Obviously going to charge you a little bit of interest in some of that, too, Okay? Talking with Gordon Gates today. Tax Services of a white it folks would like to contact Gordon. How did you do so they can contact us ate away 5 to 9 10 40. Stimulus checks and stimulus payments. Can you describe what in the form of which those payments were made people that received monies? How did they report? So people that got their stimulus checks and a lot of people got the $1200 check last year and on the second stimulus what we're finding as a lot of people are getting like a visa card, okay, or debit card that's coming into them. What a lot of people don't realize that again. Maybe surprised this year when they do, they're 2020 tax return is this is when the irises reconciler and saying, OK, one of the questions that has to be asked. Did you get a stimulus? Jack? If you did. How much was it? Because number one If you didn't for those people had a hard time couldn't contact IRAs to give them their direct deposit information or they moved and never got their check. Well, here's their chance to get their money They'll actually get the $1200 credit on their 2020 tax return. If you receive the money, we're gonna tell them on your tax return that you've got it and what they'll do is make sure that it agrees to their records. What we're cautioning people is if you've got it and you tell your tax prepared that you didn't You can run into problems there because at some point the iris is going to check and they going to say, Hey, I gave you the 1200 stimulus check. Plus, I gave you another $1200 credit on your tax return. So now you owe me the 1200 back,.
"gordon gate" Discussed on Get Up!
"We're going to open. We're going to do this. I'm not sure they really have a plan yet. And I talked to somebody yesterday. Who Said College football is too big to fail? What does that mean that means it? They are going to play football and then figure it out as I go along and I'm not really sure they have a good plan. The President of West Virginia the other day Gordon Gate who used to be at Ohio state and Vanderbilt. And he's seventy six years old. He said we are going to play football this fall even if I have to suit up. Yeah he added later. We'll make sure the safety procedures are in place but but it was later not earlier too big to fail as obviously an expression that we use for huge corporations huge businesses that generate billions of dollars sort of like college football. So that's what they're saying in the in the ACC. Bobby what are you hearing in big ten country the same thing when you look at this you know the reason why. The conference coming out of his. You're talking to the most powerful man in football and Roger Goodell and he has a plan so like saying all these all these leagues. All the conferences are all over the place. They don't have a unified message. Going out to talk to Roger Goodell. One of the things that he's going to be able to give them is understanding. He's going to be able to help them with a plan. And if you look at the NFL and college football they've been in lockstep here for not just the last couple of months that really the last thirty years going back to the fact that. Hey It's stay in college for three years before you go to the NFL the NFL loves that. Why because they have ready made stars the. Nfl wants to college season. Go on this season so they can continue to have this ready made stars the job.
"gordon gate" Discussed on Kickass News
"Do business nice place that takes your spouse nice place to go on a honeymoon for you been and a great place to have dinner. But the last place you do a startup in businesses has become the startup engine for Europe because they focused on how did they do that. And they moved from one hundred forty startups a year venture capital back to seven hundred as looted to earlier, and it's a little surprising that a country like France has a digital strategy. But here in the US we still don't have a national digital strategy. Why is that? And if we did, what would you. Like to see in that plan, we think we're the startup nation and we think that we're entitled to be the innovative nation. We're not. We're not even in the top ten according to the Bloomberg index anymore, and innovation and our startups, which used to number four to five hundred a year during the nineties and hit a peak of seven hundred. The go peo- initial public offering. We're only going to be about two hundred thirty this year, and that's up from the prior two years. We will never generate twenty five to thirty million new jobs in the next decade for your listeners and as well as replace those jobs that get displaced because of artificial intelligence and digitisation. And this we get this country to be a startup engine again. And it's something that perhaps could bring Democrats and Republicans together with a common vision and it can't be just Silicon Valley California or New York. It has to be all fifty states and which see two ventures voted to play a small role on how do you do this and our startups across all seven states all. Although it clearly be safer just to stay in California where I know the companies can backchannel anybody know the VC's. But once again, I'm trying to play a small role in helping to change the world. You're working on ways to help folks in your home state of West Virginia. Turn that state into a new hub for tech innovation that certainly seems like a better long-term strategy than just promising folks. You're gonna bring back coal jobs. Well, I think it's very important that we recognize that all Americans have a right to good job and a better standard of living than their parents and for their children. They have a better San living that they do. We're losing that and we're losing it because we're not creating enough startups across heartland of America to the central and southeast part, and it does not help. When companies in Silicon Valley say, we're going to give you a staife, and if you lose a job or criticize their political views, that's overconfidence, which does tremendous damage. And so the -bility to say, even if we bring back co jobs, it won't be. One hundred twenty five thousand. We lost. It will largely be automation in the minds and the chemical industry would not come back, but we could do startups. They're in a unique way and partner with West Virginia university and venture capital capability to maybe maybe focus on healthcare and the opioid epidemic, and to focus about how you get new generations of companies that will grow in a market's going to grow for the future, not for the past. And if that type of concept works, there's no reason that you couldn't do startups not just in every city, but startups cod very tightly to the universities in each state and get a startup community and ecosystem going there, which is what is required and maybe to do this on a scale that our nation needs. So I'm a risk taker. The president of West Virginia university. Gordon gate clearly gets it the political leadership West Virginia gets it, but Democrats and Republicans and.
"gordon gate" Discussed on The Fantasy Footballers - Fantasy Football Podcast
"It's really the end that is different. Right? Because there's a lot of like one and two teams. One in three drag for the Browns, the man. My point was the Browns that you don't normally start to send a victory that is and look they. They're playing the, the win this raiders. The raiders are two and a half point home favorites in this game with Baker mayfield's debut as the full time starter. Now in Cleveland, a lot of opportunity for obviously Jarvis Landry in Antonio Calloway to be the target what absorbers. Yeah, though it there, that's that's totally it. Carlos Hyde. Good work behind center yesterday. I believe Todd Haley came out and said, look, it's been hard to get Duke Johnson, Nick Chubb Carey's because. The way Carlos height succeeds is through volume by getting him a lot of work in the offense. He gets better with more touches. He was saying, and Todd Haley has a history of using a single back and watching them get stronger. So I I mean, Karl twenty two point, three touches per game right now for Carlos Hyde, which is six in the league. So that backs up that statement. Yeah, Carlos Hyde is he's a good running back. He is a good running back. He's in a good system. He's twenty eight. So he's a couple of years away from the thirty Mark. I don't think they're going away from Hyde at all this if he doesn't get injured, he's going to be the guy rest of season. Knick. Chubb is not going to be encroaching in the second half of the season. It's almost a shame that hide had the multi touchdown game because he is he's a trade for target, but some owners are probably going to be like, I don't know. It's just it's really the opportunity for hide. That's all. That's all I care about. It's the opportunity and he's not been good this year. All he. He's been good for fantasy. Right? But he's three point three Carey. And that's only because last game he was four point. Three carries two point eight. The game before two point, seven. We'll see what he does with Baker. I mean, but as soon as Baker came in Carlow side, he was getting things done. Yes, no, I look. I traded for him. I agree with all that. I it's just one of those things that I remember the refrain was tyrod Taylor helps running backs. He's going to be great with tyrod Taylor, and then he was bad with tyrod Taylor, so, but it's the opportunities. Twenty-three carries sixteen carries twenty two carries. That's not going away based on on usage and what you know their offense should be able to move the ball, more red zone opportunities. Let's talk about marshawn Lynch right now. He's fourth most in the league in red zone Carey's. He's converted into three touchdowns converted those into three touchdowns. He's pretty touchdown dependent. I now did you how feels? Yeah, he does, but he's pretty touchdown, like confident. I feel like there's always down absorber. Yes. Now is you did it? Yeah, it was right. Yeah. I mean, I I would I love marshawn. I think in this matchup the Browns right now, they're averaging almost twenty five points per game giving up to to the running back position at home favored. You have to start marshawn Lynch, a must start. Yeah. I think the game script will be one that marshawn Lynch should see plenty of volume with an opportunity to score. What do you guys think about Calloway? My started the week. I think he's extremely interesting. He's out. The since Josh Gordon gate, whatever happened there where he had he was inactive and then he was going to be cut. And then he was traded Antonio. Calloway is the wide receiver to and he is the big play wide receiver for the Cleveland Browns. It's a huge upgrade getting Baker Mayfield here you. We talked about last week when when tyrod was in in the first half Calloway was running free on at least two plays tyrod through an errant pass in that were these were surefire touchdowns that I think Baker can make throw a little bit better. So Callaway is very interesting to me. Jason has Jared cook is the start of the week. Do you like David and Joe Khuda have a an improved performance with Baker..
"gordon gate" Discussed on Ross Tucker Football Podcast
"Number eighteen the carolina panthers yeah i guess i just wonder how kamnu shoulders going to hold up as well as how he's going to react to the new the new offense you know they wanted to get the ball out of his hands faster they don't want him to run as much and i want to see what the impact of those two things ends up being i think at the end up being around five hundred you're the they're one of those teams all these teams i feel like are like i said seven to nine the tendon sector distinctive bear they end up being in that range in really logic tells you you can of this may teams winning records so i guess what i'm saying is allow these teams will end up being seven tonight number 17 los angeles chargers while a sound we're i it's really weird to say number one i'm going to be at their game against the eagles week four and think that is but my question is bri i guess i can't seem the song anymore sandy a go superchargers san diego chargers like it like are they gonna stick with that is there saw i mean obviously not say any go but law sand joe louis chargers laws saying john lewis doesn't have the saint same ring to it i love that that suv or van or whatever rivers is using the commute back and forth from uh from his house to the chargers facility watching film that thing is sweet honestly the chargers have a lot of talent rivers and gordon gates in henry in keene and alan and joey boasts a melvin ingram in and you know the corners in hayward and brett i just.