Here’s what you’re looking for: Art Werner

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Werner: Parking Perks That Pack a Tax Punch | Quick Tax Tip

Nonprofit employees face a new tax reality on fringe benefits.

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Quick Tax Tip
With Art Werner
CPE Today

For years, employers could offer free or subsidized parking or public transit passes as a valuable fringe benefit without triggering extra tax for employees. Businesses could deduct the cost—up to an inflation-adjusted $325 per month in 2024—while employees enjoyed the perk tax-free.

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Catch more Art Werner, Wednesday, Sept. 3, for Tax Rumors, Episode 3, with CPA Steve Yoss, and hosted by CPA Trendlines’ Rick Telberg.

That changed under the Tax Cuts and Jobs Act (TCJA). Now, if a business deducts the cost of parking or transit benefits, employees must count it as taxable income. Employers can still shield employees from the tax by choosing not to deduct the expense.

But here’s where nonprofits face a unique twist: Unlike for-profit businesses, nonprofits generally don’t pay federal income tax. That means the choice to deduct or not deduct the expense is irrelevant—yet the TCJA requires nonprofit employees to treat the benefit as taxable income regardless.

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Werner: When Ethics Trump Client Loyalty | Quick Tax Tip

Unreported income from prior years may trigger a Circular 230 compliance issue that forces you to end the relationship.

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Quick Tax Tip
With Art Werner
CPE Today

In the latest Quick Tax Tip from CPA Trendlines, tax guru Art Werner dives into a sticky — but all too familiar — scenario facing tax professionals: discovering a client’s unreported income years after the fact.

Click here for more Art Werner

Catch more Art Werner, Wednesday, Sept. 3, for Tax Rumors, Episode 3, with CPA Steve Yoss, and hosted by CPA Trendlines’ Rick Telberg.

It begins innocently enough. A client brings in a Form 1099-K — perhaps for the first time — showing payments received through online sales platforms. The conversation reveals that this “new” activity isn’t new at all. The client has been running an internet-based side business for years, but never disclosed it to their preparer.

“Now you have a Circular 230 problem,” Werner warns.

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Werner: Private Foundations Under the Microscope | Quick Tax Tip

Progressive tax changes could reshape the charitable giving landscape.

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by Penny Breslin and Damien Greathead – See Today’s Special Offer

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Quick Tax Tip
With Art Werner
CPE Today

Private foundations may soon find themselves writing bigger checks to the IRS. In the latest Quick Tax Tip podcast, tax expert Art Werner explains a key provision of the OBBBA that increases the tax rate on net investment income for certain private foundations under section 4940(a).

Click here for more Art Werner

Catch more Art Werner, Wednesday, Sept. 3, for Tax Rumors, Episode 3, with CPA Steve Yoss, and hosted by CPA Trendlines’ Rick Telberg.

“It’s a progressive tax now for the larger foundations,” Werner says, noting that while many foundations are set up for truly noble purposes—think the Red Cross or the Boy Scouts—the government is tightening the rules to ensure fairness and accountability.

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Werner: Why eBay Sales May Be Reportable | Quick Tax Tip

New 1099-K reporting rules mean your eBay, Etsy, or other online sales could land on the IRS’s radar—even if you’re just cleaning out your garage.

Sponsored by “It’s Not Just the Numbers: How to Move Beyond the Numbers and Deliver Real Value for Your Clients”

by Penny Breslin and Damien Greathead – See Today’s Special Offer

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google/Youtube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.

Quick Tax Tip
With Art Werner
CPE Today

If you’ve been selling old collectibles, furniture, or other personal items on eBay, you might think of it as a quick way to make cash, not something that belongs on your tax return. But according to tax guru Art Werner, new reporting thresholds for 1099-K forms are changing that, and the IRS could already have your sales data in hand.

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“In the past, the threshold for receiving a 1099-K from a payment processor or credit card company was $20,000,” Werner explains in the latest episode of Quick Tax Tip. “If you didn’t hit that threshold, you wouldn’t get the form, and frankly, no one was looking.”

That’s no longer the case.

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Werner: No Overtime Tax from 25-28? | Quick Tax Tip

New tax proposal offers four years of relief for qualified workers, starting retroactively in 2025.

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Quick Tax Tip
With Art Werner
CPE Today

During his campaign rallies, Donald Trump made repeated promises to eliminate taxes on overtime pay, and that promise has now been incorporated into legislative language. According to tax expert Art Werner, the proposed tax break is indeed included in the new tax bill, and it’s one of the few provisions that start early and end early.

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“This is one of the parts of the bill that actually sunsets,” said Werner in a recent episode of Quick Tax Tip. “It goes from 2025 to 2028, unlike the rest of the bill, which largely begins in 2026.”

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