HeyJaredTax in Action: Practical Strategies for Tax Pros
Join Jeremy Wells, EA, CPA, as he breaks down the complexities of tax law into practical guidance you can apply immediately. Each episode focuses on a specific tax strategy, credit, or compliance issue that matters to tax professionals and business owners.
- Indexed episodes, last 90 days
- 6
- Latest publication
- Sep 16, 2026
- Audience
- Checking…
- Earliest in this view
- Jul 8, 2026
Latest episodes
The Qualified Overtime Deduction, Fact vs. Fiction (opens the original)
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Jeremy unpacks the "no tax on overtime" deduction created by the One Big Beautiful Bill Act, explaining why the name is misleading since qualified overtime compensation is still taxable income subject to withholding, FICA, and (in most states) state tax. He walks through how to isolate the FLSA overtime premium from gross overtime pay, calculate the deduction on the new Schedule 1A, and apply the filing status caps and MAGI phaseouts through real client examples. He also flags the reporting chan
Beyond 7216: The FTC Safeguards Rule, SOC 2, and Your Firm's WISP (opens the original)
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In part two of his series on protecting taxpayer information, Jeremy shifts from who can see client data to how firms actually have to secure it. He walks through the Gramm-Leach-Bliley Act, the FTC Safeguards Rule, and what a written information security plan needs to cover, then explains how SOC 2 reports help firms vet software vendors. He closes with the IRS Office of Professional Responsibility's new AI guidance under Circular 230, and what it means to treat AI like a junior staff member ra
Section 7216 and the Rules for Sharing Taxpayer Information (opens the original)
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Jeremy opens a two-part series on taxpayer confidentiality by breaking down IRC Sections 7216 and 6713, the rules that govern how tax professionals can use and disclose tax return information. Using a case study of a solo firm owner weighing seasonal hires, an outsourced bookkeeper, and a possible merger, he walks through what actually counts as tax return information, when taxpayer consent is required, and the exceptions that let firms share data without it. He also covers what a tax return pre
Partnership Exits: Basis, Liabilities, and Hot Assets (opens the original)
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Jeremy closes out his partnership series by tackling outside basis, how partnership liabilities affect that basis, and what happens when a partner exits. Using a case study of two LLC members with mounting losses, he walks through abandonment, a buyout by the remaining partner, a partnership redemption, and a sale to a third party, comparing the tax results of each. He also covers Section 751 hot assets and why unrealized receivables and appreciated inventory can turn part of a capital gain into
Cash, Property, Sweat Equity: Structuring Partner Returns (opens the original)
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Jeremy breaks down how partnerships can divide profits among partners who contribute very different things — cash, property, or just time and effort — without running afoul of federal tax law. Using a hypothetical partnership as a running example, he covers what makes an allocation legitimate versus a tax dodge, and why the IRS cares so much about the difference. Sponsors Thomson Reuters - http://taxshow.promo/taxautomation (00:00) - Meet Lighthouse LLC (01:17) - Investor Payback Goals (04:32) -
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