As you may know we are in the middle of our busiest time of the year, tax season. In this episode our hosts Josh and Robert explain why it is not only okay to extend your tax return but also the benefits that are involved. Learn more in this latest episode!

In this episode, we'll dive into how businesses can be more efficient in their month end processes with special guest, Pam McClain, head of the accounting services department at Harris CPAs. We'll explore why people find accounting services time-consuming and stressful, and the effects this can have on staff. Secondly, we'll discuss helpful tips for companies to improve their accounting processes, including examining bottlenecks and workload disparities, and looking for ways to automate and consolidate. We'll also touch on the importance of using financial reports to extract value from month-end financials.

As we approach year end, now is the time for individuals to review their 2022 and 2023 tax situations and take action. In this episode, we’ll chat about some of our suggestions for individuals to consider:

  • 1:23 - Effective tax rate and marginal tax rate
  • 4:35 - Strategies for large capital gains (deferral and installment sale)
  • 5:13 - Types of income and timing considerations (ordinary vs. capital gain income and losses)
  • 6:58 - Rental properties and losses
  • 10:22 - Itemized deductions, the ABE election
  • 11:15 - Charitable giving through a donor advised funds
  • 12:55 - Installment Sales
  • 15:11 - Strategies for the sale of a property to address capital gains, opportunity zones, etc.
  • 21:45 - Charitable contributions (property or appreciated stocks)
  • 24:52 - Schedule C strategies (methods of accounting, depreciation of assets, deductions)
  • 26:07 - Alternative Minimum Tax (AMT)

Strategic tax planning at the end of the year is never a one-size fits all model, but in this episode, we'll share a few of our favorite tax deduction strategies and credits. A few adjustment's at year-end can have huge impacts long-term.

Tax Deduction Strategies

  • 2:08 - Deferrals, purchases, and rate reductions
  • 7:19 - Equipment purchases & depreciation
  • 9:13 - Setting up retirement/pension plans
  • 10:55 - Timing on year-end bonus payouts
  • 11:55 - Method of accounting (cash vs. accrual)
  • 13:29 - Net operating losses

Tax Credits

  • 15:28 - R&D credits
  • 18:39 - Inflation Reduction Act & Chip Act


  • 19:51 - ABE / Pass-through tax deduction
  • 23:54 - State & Local Tax

Year-end planning with our clients is in full swing and we are now setting our sights to the upcoming year. In this episode, we reflect on our top tips on how you can be a client your CPA will love working with. While the concepts might seem simple, we'll peel back the curtain and explain how each of these tips can lead to a more valuable relationship with your CPA, and why that is important.

The new lease accounting standard is here! Is your organization prepared? In this episode, we'll take a look at the difference between operating leases and financing leases, how this new standard changes the way leases are reflected on your financial statements, and the tools Harris is using to help their clients adopt this new standard.

Introducing Harris CPAs latest venture…. a podcast! Learn more about our hosts, Josh Tyree and Robert Shappee of Harris CPAs. In this episode, we'll dive into the current state of the accounting industry and from our perspective, the biggest challenges that we are facing. From adapting to remote environments and talent shortages, to the changes our clients have seen in their own businesses.

Want to hear more about our auditing capabilities? Speak with one of our experts.