Tax Talk & Beyond

EP 07: E-Commerce and the Sales Tax Shake-Up

In this episode, we dive into South Dakota v. Wayfair, Inc, a groundbreaking Supreme Court case that redefined sales tax rules for e-commerce. By allowing states to require online retailers to collect sales tax regardless of physical presence, the decision modernized tax laws to align with the digital economy. This case marked a significant shift in how states address tax compliance in an era of growing online sales.

EP 06: Self-Employment Tax and the Limited Partner Puzzle

Soroban Capital Partners LP v. Commissioner examines the tax treatment of income earned by limited partners in a partnership. Central to the case is whether limited partners should be subject to self-employment tax on their distributive shares of income, raising questions about the distinction between active and passive participation. This case has the potential to reshape partnership tax rules and clarify self-employment tax obligations for investors.

EP 05: When Foreign Profits Meet Uncle Sam

In this episode, we dive into Moore v. United States, a landmark case redefining the taxation of foreign earnings under U.S. law. Explore the IRS’s approach to foreign corporations and unearned profits, with practical insights for entrepreneurs and global investors. Learn how this case impacts international business and gain key takeaways to navigate tax liabilities and stay informed on managing your taxes effectively.

EP04: Crossing Borders: Unlocking Success in the U.S. Market for Foreign Entrepreneurs

This episode covers key strategies for foreign entrepreneurs expanding into the U.S., including entity formation, tax compliance, operational challenges, and cultural adaptation. Learn how to navigate market positioning, compliance, and available resources to ensure a smooth and successful transition into the U.S. market.

EP 03: When a CPA Can Get It Wrong

In Amundsen v. Commissioner, even an experienced CPA faced disallowed deductions and penalties due to poor documentation of business expenses. This case is a cautionary tale for tax professionals, highlighting the importance of meticulous record-keeping to avoid IRS audits, penalties, and credibility issues. It underscores that no one is exempt from strict tax compliance requirements.

EP 02: When Bad Bookkeeping Becomes a Taxpayer's Nightmare

In this episode, we explore Sherman v. Commissioner, breaking down the facts, arguments, and key rulings. Learn why proper bookkeeping and accurate records are essential for proving business legitimacy and avoiding IRS disputes. Gain valuable insights into how detailed records can safeguard your business and ensure compliance. 

EP 01: Welcome to "Tax Talk & Beyond"

Join Samuel Lai, founder of SBS Tax and Consulting Services, in the debut of "Tax Talk & Beyond"—where taxes, business, and entrepreneurship intersect. Samuel breaks down complex tax concepts into actionable advice with real-world stories and expert insights. Learn how tax laws, economic shifts, and smart strategies can fuel your growth. Whether you’re an entrepreneur or just starting, this podcast equips you for success.