But she was deaf, so I guess that's what they all sound like. Tell them what this is. This, welcome to episode number 29 of the Martin and Michael podcast. It is fully actual and Michael has a hammer and I have a plastic vagina.  Man, I came off a jet ski and Michael fell off a jet ski and broke his rib. That's the story three and that's all we did on the weekend.  We've been filming our tits off heaven, which reminds me that this podcast is proudly sponsored by the University of Michael. So if you want to support this podcast, go sign up to our website. You get two unseen videos a week.  Isn't that right, Julia? We'll use here.  We'll give you a fucking. We'll answer some questions and then we'll do the PO unboxing.  Don't you think so, my friend? My rib, my rib. It's just a song we're working on. Oh, what else happened last week? Nothing. I smoked your. Yeah, look at this. I'm wearing a manscape shirt.    It was blindfolded. Isn't that right, mate? Don't touch me. OK. So that's what's been happening. It's been filming here. So we have a bit of golf. You know, we really are. We've got golf last week, right? That's here. He's got his blue. He is not so formal this week.  Yeah, we've had a big day of filming. We filmed two brand deal videos today. And oh, my God, we're tired boys, aren't we? Look at that. Yawning is half yawning. He's trying to get it out. Do you know how? If I sneeze now, it's World War Three. Having a broken ribbed, coughing, sneezing, sitting down, doing anything with a broken rib, suck.  He's all flirt with me.  Isn't that right, Julian? Yeah. Oh, yeah. I can't wait to get him on. Yeah, yeah, yeah. Oh, you're the art. Anyway, first things first. On this day, now I had a bit of a read through these, Matt, you want to say anything before I start reading these or? Oh. Three. That's what I thought you were going to say. And guys, just so you know, we have the three here, but we don't have the Stephen Hawking's picture because that belongs in the toilet where he belongs. So we can watch him.  So the Stephen Hawking thing that someone sent last week, we've put it in the toilet. And yeah, it's good. Follow our Instagram. You'll see many stories of his face with some beautiful noises in the background. Music. I like to call it music. Yeah, we're making.  On this day in 1998, Joe Rogan escaped from the Los Angeles zoo where he was living in captivity with the chimps. Zookeepers launched a citywide search, but Rogan hid in a stand up comedy club. And to this day, he pretends to be a stand up comedian to not blow his cover as a chimp.   It's fucked. There you go. Joe Rogan's actually a chimp. That actually explains more because he's always like, just so naturally like physically strong.  Do you know much about that? Yeah, I do. What's going on with Spotify trying to censor Joe Rogan?  No, it's because Rogan is, he allows anything to be said on his podcast. It's live. Yeah, it's live. Yeah, so, and I think they've signed up with him. They've done a deal where they're not going to try and they can't do anything. It's still his. He hasn't signed all the rights over so there's no producers involved and they can't tell him what to do. So why are they going like, it's not the actual company, but employees from the company are going to go and strike if they don't censor his podcast. That is fucked.  Yeah, they're taking away free speech.  Sorry, I shouldn't have taken it out on you. Sorry. On this day in 1999, Miley Cyrus slipped on one of her abortions she had left on the lounge room floor. She skidded along the floor and then smashed most of her teeth out on the side of a coffee table. When she regained consciousness she collected her teeth and swallowed them and she dried the abortion out and turned it into a stylish rug for her kitchen. Her teeth grew back within four days so I'm not sure if she's human either. She slid on an abortion.       On this day in 1999, Mike Tyson, Mike Tyson, Mike Tyson, Tyson, Mike, Mike, Mike, Mike Tyson, Mike Tyson, Mike Tyson, Tyson's Tyson, Mike, Tyson, Tyson, Tyson, Tyson, rapist Mike, Mike Tyson in the Tyson, Mike. Mike Tyson punched Mike's horse Tyson, concussion to Mike Tyson.  Dude, that is good news. You're not bad this week, Matthew Brown from, I don't really understand that. Research, research. I don't really get that. It's not really, I missed it. I missed it.  Can't confirm. Oh man, it's hard to like wake up. I need a coffee. That was a strange one, man. Anyone explain that one? It's fact, it took a lot of research, dug deep into Google, and then I went on to the dark web and I found a page and that's where the facts come from. All right, well, do you want a tea? Okay, well, yeah, I guess it's cool.  On this day in 2001, Bob the Builder was arrested after a meth bender which ended in him bludgeoning that truck thing called Scoop to Death. Dizzy was also arrested for a separate charge of sexual assault on Wendy. Their popular kid's show was canceled and Bob was released from prison in 2016. He now works as a bus driver in Tasmania and collects Pokemon cards.  He's a cartoon. Oh, well, what do you mean? All cartoons are based on real life. Do you ever watch Bob the Builder? There. Three. He was, yeah, it's all cartoons are based on real life. Do you remember Oki-Doke? Oki-Doke, Oki-Doke. What was he again? He's helping and he's like a little acorn. He comes down the slide. I'm cross the land. Yeah, but what is, he's a corn. Like an acorn.  He's a green man, he lives in the forest. Comment if you know who Oki-Doke is. We've probably spoken about this before. Or Naughty, remember Naughty? Remember play school? Oh, play school. Julian remembers play school. Oh, fuck, Brum was good.  And Postman Pat?    Yeah. The trap door, remember down the trap door or some shit, it was like a two minute thing? Yeah, I remember that. There's always something. Can someone tell me underneath the trap door? A bar bar, bar bar was hot.  Oh my god. Captain Planet? Captain Planet? How did the Rugrats theme go?  You just wanted us to sing a little jingle. Yeah. Milk. Our next segment has been renamed to like... And this is a segment where you just answer questions that Michael has on his phone, Michael. Pump it away, mate. Oh, how did you break your rib? Jet skiing. They're fucking, they can hurt you. Yeah, yeah, I fucking, I was on one with Jackson and he was like, hey, fucking, they go from like zero to 100 in like three seconds. Can you do it, remember?  We hit it away. And then I flew up into the air, tried to hold onto Scott's shoulders, but I couldn't and then... Is that because his shoulders were too big and muscular? Yeah, God, mate. You bounced off? Like, Marty said to hold on to the back, but then Scott kept telling me to hold on to him. Yeah. But it moves, especially if you go up a jump.   Yeah, now I have a break. It's my first broken bone. Really? That's fucked, can't know. You've probably definitely broken bones before. We've just never gone to the doctor. When we fought the MMA fighters, this is the same feeling that I have right now, but I never went to the doctor. Because we didn't have any money, Matt. Well, it's free in Australia, so we should have gone to emergency. Well, we didn't have any fucking, we didn't have Medicare cards and shit, Matt. Actually, I didn't have one.  Matt! I like the way you said Matt. Matt! Oh, that hurt my rear. If anyone else has broken a rib, can you comment and tell us the story? Yeah, comment all of your breaks. Oh, we've got to go through YouTube as well, because there might be some klelle's in the klelle. Klelle!  This is my cup, where I was a little boy. I was three years old. Oh, yes, thank you. Thank you. Oh, no. Oh, Vasa, oh, Vasa, Vasa. I've got dimensions in for all this. I've got top of my head, Matt. Are there any questions on the... Okay, I'll get into it.  I guess I can look at them too, if you, if need be. Matt. Do you want to read them? Just because I can't read them. Okay, here we go. I've got the YouTube ones, if you want. SFDNCR.44. Write that down. When are you going to make a medicine for Corona? Oh, we looked into it, but like, Corona's not real, so you can't really make a medicine for it. Next question. This is Venencio Adema Adjada. And if you want to go to his actual username, it's chunkyluven underscore 95. What video will Yamao Stranghae do besides the hard tennis? Is that how you reckon he talks? Yeah. Because yaw, they say yaw. I thought that was actually an audio recording you were playing.  Good question.  No, the ones where I'm passed out is when I'm fully gone. Yeah, true. The passed out ones is, but that's not like...  Yeah, but like the videos where we knew we were going to film and still drank and stuff. Remember the squash ball one? We were pretty fucked for that. Yeah, that was a friend's engagement. Engagement party we went to and then we had to leave and so we got to hit each other with squash balls, mate, for free, for nothing, for 10 views. Yeah. But nah, it's all worked out because we got to use the footage eventually anyway. So nah, it's great. Isn't that right? Yeah, nah, it's great. Yulia. Yulia? This one's from mcundascoresage. All right, this one's for you, Marty. What's your favorite breed of cow to fuck? And also did you know if there was any hot, horny heifers on Jeffrey Epstein's Island? I haven't been to the Epstein's Island. Why? I don't like, to be honest, I've only met him like right before he died. So he was already in captivity. You went and visited him in jail? Yeah, well, I didn't visit him in jail. I just met with his legal team and because they got me in for a consult. Do you know what I mean? I love how he was playing with his hair there. My favorite breed of cow is probably the dairy cow just because they're like, you know, they're creamier. The flesh is like, I don't know, it's just something about them. There's like, you know, you got meat and you got milk and just the way they move. I don't know, they just seem very like, they're so pure that it's so fun to just rip them apart.  That's what a dairy cow is and that's why I enter them with the most force possible, Matthew Brown. All right, you just spurred a story on. I had a cousin. Who fucked? I had a cousin that when I was a kid.   They couldn't really talk yet. You got a jail, man. I didn't want him to do it. He pushed the kid over to hurt it and it couldn't explain to its parents what happened. That's the best when kids that young. There was no context to that story at all and what led up to that. What went through my head to get to that point was maybe Jeffrey Epstein and the cows. I had a question about the cows, actually. We'll move on from that.  Three.  You do all my heads down. With the dairy cow, do you like that one more so because you can suck?   Sometimes they're running away and I'm grabbing on to their otter and all four tits are in me. Is there four or six? Is four, I believe. I thought there was six. It's confirmed with this.  Sometimes there's freak ones that have like five, maybe even like five and a half, but no. Six. Come on.  Fucked a cow to death. This question is for me from the same person. What's your favorite takeaway and would you rather coke or the ganja? Probably marijuana because it's not as heavy a toll on the body and mind. It sort of hurts your head if you do coke for too long. Good every now and then. Very rarely, but not anymore.  Yeah, look at that.  Favorite takeaway? Pizza. I love pizza. Domino's.  I'm getting into Pizza Hut.  And I like any Italian or Mexican. It's pretty good. And Nando's, I've been up in it too. What about fast, what about just scummy fast food shit? If I can eat meat, KFC popcorn chicken. Yeah, I'll probably have to go like Mackers. Mackers is sick compared to KFC. They're all fucked. Even though you feel taste-wise, I'd probably have to go Mackers because it's just got so much variety. So many different things you can choose from.  That's it. Mackers, you got chicken. Chicken, if you have to. Chicken is better than beef. Oh my God. Yeah, but if we're not talking about health value at all, we're just talking purely on taste, McDonald's.  Exactly right. I can't wait for Ulia to be on my lap. I feel like I'm under a lot of pressure with the threes. Yeah, dude, you've got to be making eyes on me. You've got to be on it, man.  You're going to take a few to get into it. Oh, man. The pubes are in the back of my throat. Half our podcast is just noises. Messy.worldwide. Okay.  Yeah, meh. Yeah, well, look. I don't know how much freely we can talk about this. We've spoken about this. We've talked about this.  Is this loud? We didn't know what it was, but just look up. Just Google Yabba. Y-A-B-B-A. It felt like it felt like I'd fucking... He almost died. I did it for a week and I was fine, but it's lost part of my brain. Yeah, you don't really sleep and you're just very like, it's very... It's not that good. It's not like a massive fight. It came, but shitter, and lasts longer. Yeah. Anyway, that's the worst drug. And carpet cleaner?  And you should only ever pour it into the soft tissue in your mouth and let it absorb that... Under the tongue is the best way to do it. But if you do it too much, it's like what, nitrous?  It's like that. Hey?   That was a joke, everyone.    God, you're not very good. You really are. We'll talk about it. Alright, next one's from Bryce Carter. How you doing?  Do you want to go see his Instagram? It's ozzy underscore karts199 Did Marty lose his virginity to a cow or did a cow lose his virginity to Marty? Yeah, look, I was I was confused.  You know what I mean? I couldn't I couldn't approach a girl and organize a fuck. So I was walking home next door to where we're living at the time. There's a old blind farmer. He had four cows there keeping his lawn grass low and look, I sort of had a connection with one and one thing led to another and yeah, I cornered it at the back half of its yard and grabbed it and yeah and fucked it and just suck, get it over and done with and I knew what it felt like to be in something. And then I made the transition to female humans not long after. That gave me the confidence, so yeah if you're a virgin, I highly recommend yeah, just looking around at livestock.  Look, it's a great question and as for all we know, we could be holograms you know and and that's there's no way to prove or disprove that I'm sure that we could but we've thought about it and we're too scared to prove or disprove.    So I'm just a quick one. I just want to see if it's progressing through the like the process and that. March Clinton, M-A-R-C-H. No, I. Thanks for holding. Yeah. Okay. So I just asked and unfortunately it's a moment we aren't hiring anyone. Oh, true. Well, that's yeah, that's all.   So it's like, I come straight in and like just like, just fit straight in. And the manager said, you call. Well, what about one of the other stores on that?  But like, like it's, it's troubled times on that. And you guys aren't, she said, she said she called me back.  Did you read it? Did you guys even read it? But what, what, what do you guys do with a resume? It's cause like, I could drop another one off. I know he's not hiring that, but like, I've got mad. I've got, I've got, I've got, I've got, I've got, I've got computers home and that.  If I just come in, I'm coming in. I'm coming in right now. I'm going to drop my resume off again. And is there any other off the domino stores that's hiring right now? Cause I'm just one of them boys, right? I'm not taking no for an answer on that. Like you'll find that out. I don't really take no for an answer, but so I think I'm going to come in. What's your name? Well, I'm going to come in Georgia and give it straight to you can do whatever you want with her, but I'm pretty sure once you read it, you'll be fine. Yeah, you could be mad not to give us a crack. And what about the other stores too? Do you know if they're like, if there's anyone hiring that cause like far out, like I've lost my labouring job like two weeks ago and it's, yeah, it's getting a bit slim. I couldn't tell you to be honest. All right, well, I'm not popping maybe maybe 15 minutes and I'll just print one out and I'll duck down on the, on the pushy.  Okay, I'm sorry. See you. Let's see you later. Hey. And that's how you get a job at Domino's.  Yeah, he's a good man. He's got he's got ethics in that and morals and shit, man.  I like that he didn't take no for an answer.  I was so hoping you were going to get like a little bit like aggressive. Yeah, I didn't know where to go with it. She just kept giving me nothing. If that was a dude, you could have gotten way more. Yeah, and it's a little bit. I get scared with the girls because you don't want to scare them. He sounds like a scary boy. It sounds like Julian at 16. The best. We're the best. We're the best. We're the best. We're the best. We're the best. We're the best. We're the best. We're the best. Three.


Good afternoon everyone. When I first ran for office I said my three priorities are to grow the economy, make Vermont more affordable and protect the most vulnerable. I know you've heard this many many times before over the years but I want to talk a little bit more about why I set these in particular and why they're still my priorities today. The way I sought and still do is Vermont has had more than a fair share of challenges. We had an aging population, a workforce shortage and declining student enrollment for decades. We've also lost major employers with the lifeblood of their communities. Those losses and workers, students and jobs have disproportionately impacted communities outside of Chittenden County creating a gap between Chittenden and pretty much everywhere else in the state. And yet most of the spending decisions at Montpelier didn't take into account this regional inequity. So I ran for office and set these priorities as a way to focus on the fundamentals so we could address these challenges, attract more workers, revitalize communities that have been left behind for far too long and give more Vermonters the opportunities they deserve. Every proposal my team and I have put forward, every budget decision we've made, every bill I vetoed has these challenges and these goals in mind. Whenever we make a major decision we start by asking ourselves does this satisfy at least one of our goals? That's why we prioritize as a team so everyone understands the choices on the table and we make the best decisions we can for Vermonters. I believe this approach is essential to solving our challenges and make sure Vermonters get the most out of the investments we make because it's their money, not ours, it's their money and they've entrusted us to spend it wisely. It's especially important to remember that in years like this one when we don't have hundreds of millions of dollars in surplus. Take this year's budget for example, we knew it was going to be a tough year so we started with an understanding of how much we had to work with without raising taxes and fees. Then we heard from agencies and departments about new initiatives to move us towards our goals and cover additional needs. As a team we thought through the benefits and costs and weighed the value of proposals against one another. What we presented to the legislature was a balanced budget that grew by 3.57 percent without raising taxes or fees while still prioritizing housing, public safety, flood recovery and human services. Now as I've said there were more asks than available funding but we prioritize based on all the principles I talked about and made tough decisions based on our fiscal reality. I believe we owe it to Vermonters to have the courage to make these hard choices instead of asking them to pay more or increase costs that put that put on our economy and their livelihoods at risk. Unfortunately the supermajority and the legislature is talking about a different approach. Every committee appears to be doing its own thing without any spending parameters in sight. They did the same thing last year growing the budget more than what was sustainable which added to the level of difficulty when building this year's budget. This year they overspent in the BAA before understanding the full budget picture. So that put them in a $15 million hole before they even started working on the fiscal year 25 budget. As a result house appropriations on an eight to four vote moved forward with the budget to make cuts to some of our shared priorities like housing. The house budget slashes housing investments to help low income and vulnerable Vermonters which is bizarre. It eliminates funding for VHIP which has probably been our most successful housing initiative lifting people out of homelessness. These days our housing partners are reporting costs over $450,000 per unit that take years to build. In contrast the VHIP initiative brings units online in about a hundred days at a tenth of the cost. Another example is healthy homes and mobile home improvement programs which help Vermonters stay in their home but those were cut in half as well and our proposed expansion of the downtown villi's tax credit program was eliminated altogether which has helped smaller more rural communities the state so desperately needs to add housing. Now when you consider this along with the fact that neither chamber has yet to pass any reforms to make it easier and less expensive to build housing and the house is taking up a bill 8687 which will make it harder and slower to build for most communities is difficult to understand how legislative leadership can still say housing is a priority. Now I understand the house has housing investments in another bill but to gut these programs which have proven to have the greatest impact just doesn't make any sense to me. What also makes little sense to me is that the other housing bill has new and higher taxes and fees with very little to actually generate units which brings me to my next point they're spending a lot of money in other bills keeping them separate from the budget which is unusual making it less transparent more difficult to keep track of so we have to look at the aggregate and to pay for all of it they're increasing costs for those who live work visit do business and invest in Vermont. If the house is successful it will make Vermont the highest tax corporate state in America not exactly a great marketing strategy when you consider the businesses we need to locate here not a great strategy to keep employers here who are already dealing with high costs from property taxes to payroll taxes the utility costs and numerous other mandates much of which put Vermont at a competitive disadvantage disadvantage already making this change with the potential for huge consequences took about an hour of committee's time with virtually no testimony and we've seen in other areas from the people waiting changes in act 127 the clean heat standard and raise the age there are consequences when we don't think things through we should be striving to make it easier to do business in Vermont instead I fear the fear the actions that drive jobs and opportunity away exist and while we propose an exemption on the property transfer tax to jumpstart housing the legislature is contemplating the opposite they want to raise the property transfer tax which is paid for by the new owner these are just a few examples of taxes and fees on the table right now totaling over 100 million dollars as a reminder that's on top of the over 240 million dollar property tax heading our way it's safe to say I'm confused with the direction the legislature is going we hear from Vermonters every single day who are more than just concerned some are angry and some are just plain scared they simply cannot take anymore they can't afford the hundreds of million dollars in new taxes the legislature is considering at this point or even the legislature's hundred million dollar payroll tax coming July one they can't afford hundreds or thousands of dollars more a year to eat their homes and businesses and also see their electric bills increase as well even things like a 20 hike and dmv fees stretch budgets thin I hear over and over from Vermonters they don't feel Montpeer is listening to them when costs go up people struggle seniors on fixed incomes have to decide between their prescriptions reading their homes parents have to decide whether their kids can go to summer camp play sports take up musical instruments we're asking way too much of Vermonters and they deserve better and they've had enough I'd now like to introduce everyone to Amanda Shangrock a small business owner from Williamstown she knows firsthand how hard it can be to grow a business in Vermont last week she wrote to a group of lawmakers and shared her story she copied secretary curly on it who sent it to me it's a powerful example and it's one legislators should really really listen to so I invited her here to talk about it today because the things we do in this building have a real impact on everyday Vermonters so with that Amanda hi everyone thank you for coming thank you for having me my name is Amanda Marie Shangrock I'm a third generation Vermonter who was born with severe dyslexia and ADHD I was raised by a single widowed mom Nancy Griffin my father Barry passed away when I was young from a brain aneurysm I grew up in poverty in rural East Calus Vermont my mom took a job and worked overtime every week until she could retire from the United States Postal Service she supported a family of three of us children by herself I went to U-32 middle and high school and then continued my education at Johnson State College my entire life I wanted to do good I had dreams of a little kid owning my own business and becoming something making something of myself I struggled so hard in school that my own teacher advisor warned my mother my freshman year in high school that the likelihood of me even getting a diploma was very very slim and let alone being a contributing person in society but I took summer school and my mom worked overtime so that she could pay for private tutors to come to our home and teach me or in Gillingham so I could eventually grow up and learn how to read and write I did that every summer every year until I could graduate high school in fact when I applied for college and financial aid my mother had worked so much overtime that our family even though she was a single mom made just enough too much money to qualify for any student aid so I had to take out my education in private loans which I now burn like I carry that burden and I happily paid them in the middle of COVID-19 I met my now husband Peter Schengra he's standing with us here Peter is a single dad who has raised two incredible children on his own Peter is a multi-generational fermata as well he was raised by his mother k and his father Dennis Schengra he's one of four boys that grew up in rural Williamstown Vermont Peter's father was a truck driver and he is known in our community as someone who had the ability to work 80 to 100 hours a week Peter's mother k was a dedicated nurse until she retired just last year Peter and I by completely act complete accident in the middle of the pandemic started a now nearly a million dollar business it's called bergamot of more and we're located on route 14 in Williamstown we hand make luxury leather goods and we ship them all over the world we started our business out of Peter's garage with no professional tools we actually used a roofing hammer and whatever we could find to make these we cut our leather with scissors and eventually we outgrew that space in 2023 we found two abandoned properties on route 14 in Williamstown and we made the jump we were not ready to purchase these buildings but it was the last building in downtown Williamstown and everyone keeps saying do better help your towns lift people up Peter and I worked seven days a week for the last three and a half years we worked 16 hour workdays we have kids who are growing up we have sacrificed every day off we have not taken a family vacation we pay for the buildings in our town and the continuous upkeep with our own paychecks that we often skip with the goal of reviving a small rural town and promoting tourism we have people coming in every weekend that want to be in Vermont where do I go where do I shop they're so excited to be here we believe that Williamstown has and deserves the ability to build a better reputation for itself and survive post-pandemic and that's what we're trying to do the taxes that our business is seeing monthly to the state bi-weekly and payroll built into every transaction we take on top of increasing property taxes and the endless permitting and fees to upgrade our building to meet current state code and fire code and make sure that it's safe for people to come is bankrupting our small business since our business started in 2022 nearly two years ago we have paid a hundred and forty one thousand nine hundred and fifteen dollars and seventy three cents in taxes to the state of Vermont that number is about to increase drastically that's a price tag that Peter and I's take home salaries combined over the last few years have never met we employ eight incredibly smart motivated Vermonters some of which started with us as kids making three times what I did at their age starting out in the workforce with zero previous job experience and who are considered still dependents of their family I'm here today because I voted for a large majority of those of you in office and I'm feeling really let down and I'm hurting and I'm feeling really defeated just like thousands of other Vermonters and small business owners Democrats Republicans progressives alike I want you to see me and know who I am and when you go to vote for these bills picture my face and the hundreds of others just like me I'm asking you our state government as a representation of all of the working middle class how do we survive when we don't have pockets as deep as the big corporations how do we continue to build back better and keep our communities alive and thriving and helping people without having to accept a high interest rate loan or borrow money beyond our means or learn how to write a grant because we're already working crazy hours just to keep the lights on we can't afford to hire additional help when we need it we work nonstop to sustain between the costs of living currently and constantly increasing and having us to skip our own paychecks to make sure that the power stays on and we're keeping our employees employed we feel like we're drowning I'm reaching out because not only do we need help but I'm hoping this isn't the first time that you're hearing from a small business owner and I hope that this helps explain how your small hikes and taxes are truly killing the working class American dream I was told messages as a little kid that you want to grow up you go to school you do the right thing you learn even if you're different from everyone else and you've learned differently you get through it you persevere go away to college but when you're done come home start your family here start a business here help the businesses here that's what we're doing it feels further and further and further out of reach every day I stand with thousands of rural Vermonters and entrepreneurs when I say this we don't want to sit at home we don't want to collect from a system we want to contribute to it we want to work we want to create jobs we want to create housing we want to be a part of the the solution not the problem but we are all learning daily by our leaders right now that in the state of Vermont it is easier to give up and to stop fighting small businesses all around us in the state are folding they're leaving every one of our peers that owns a business that we talk to regularly and bounce ideas off of considers on a daily basis if they should move their business outside of Vermont close the doors go back to their house and work in the garage it was easier than but it's not helping our economy the taxes are killing us please I'm asking all of you when you go to vote on these things these little hidden things remember that they have great impacts and they are they're suffocating us that's all thank you it's powerful as the letter was when I read it hearing it in her own voice is that much more powerful and it's real and this is replicated across the state and this is what we hear this is what I hear and that's what motivates me to push it back against all the taxes and fees that I see being contemplated we simply can't afford it so with that open up to questions can I get an email of that speech sure please send it can you talk a minute about how this proposal specifically their under consideration right now like flow to your business um what do you do is yeah um well we peter and I make uh very little ourselves our business expenses are quite high um to keep people employed and make sure that they're surviving and being able to sustain their own households um money is tight the current bills that are in consideration and or have just passed are increasing our payroll taxes which are already very high um we'll see property taxes increase the buildings that we purchase need extensive rehab in order for them to be livable we have current tenants that we adopted when we bought these buildings that would be dispersed one of which is a mom of five these ripples are incredibly detrimental to our small business and our community Governor I imagine some of these these taxes that we're talking about today um you know DMB fees and others you know we these are going towards the expansion of a Medicaid for affordable healthcare uh for um you know the expansion of the criminal justice system the judiciary I guess how do you swear you know what you're hearing from voters and what they're asking from you and the services for you to provide versus how long the tears are interpreting that that message yeah well I think the judiciary public safety for instance um what they want is to feel safe they want accountability they don't want to to see the catch and release that they've been seeing over the last few years and what we're seeing in the courts is a system uh where people don't show up per court dates so all this time is booked state's attorneys show up lawyers show up judge shows up the perpetrator doesn't one charge does not that time is just eating up evaporates and so it it combines to a system that is inefficient um so that wastes a lot of time so with the budget that is being proposed by the judiciary it adds a lot of positions I think it's 70 something positions and I'm not sure that's going to be the immediate answer I think the immediate answer is get people into court have all of them accountable but there's other I mean there's other instances as well I just we should be we should be laser focused on this 240 million dollar tax bill property tax bill that's coming our way and from what I've heard and I'm not seeing us doing anything about it this year I've heard some talk about maybe next year but then it level sets it are it's a 20 25 increase and then you start from there so next year it'll be easier probably to keep it in line because you've already taken the big hit and that's what I'm seeing I mean this is all this is combining to something we can't afford as a state and it's all relative and there's a huge ripple effect across the state when any of these tax proposals impact us from you know they have to pass it on to somebody else nobody likes to hear that but businesses aren't going to be able to absorb Peter and Amanda aren't going to be able to absorb it they got to pass it on to their customers so it's got to come from somewhere and that just raises the the cost of living in Vermont raises it creates inflation we have to we have to make some tough decisions and I know it's difficult but nobody said this was going to be easy but we have to live through the the good times and the bad and when there's bad times we have to pull up our bootstraps and survive for a better day and and I think you know before last year I think we were poised to do that but the spending that we saw last year increased 13 percent increase in the budget that has an effect on today because it's compounded now we already have the 13 percent in the budget so when they hear about the 3.57 they think well geez you're just restricting us too much we can't live within that but they already raised that 13 percent last year and compounding if you took it all together did the analysis you probably come up with about in total between the two take out the compounding probably 20 percent so we're we're raising about eight eight to ten percent a year that's a lot so it's across the board and from what I'm seeing again hard to keep track of I know what they're going to say you know you're going to ask me the questions you're going to say well geez governor you know the budget they're presenting is about equal to yours what are you complaining about my answer is they cut everything out of what we need in terms of housing included a few things of their own now they got four or five other bills they have spending attached to them they're going to be that you have to take in the aggregate and I don't think they're doing that but we'll see I mean we're going to highlight that governor what would be your cuts number one two and three what would be some give you this okay what do I what do I change in this in their budget I go back to our budget that's one two I go back to our budget three I go back to our budget in particular which elements of that it's hard to deter you know all across the board again you have to take in the aggregate so all these other bills that are coming through are going to have an impact raising taxes and fees is my biggest concern at this point so what can you do so if they want to present a budget it's real that grows at 3.57 percent across the board let's talk that's about prioritization what do they want to prioritize versus what we did if housing isn't a priority to them say it we'll work with them in some way to not raise the cost of living in Vermont any more than it is today again being being the number one in terms of corporate tax in America nothing to be proud of governor before you talk about any battles in the building you said that you were planning on reaching out to maybe more fiscally modern democrats and dependents people right of center that type of thing what progress have you have you made on on you know recruiting and reaching out to to candidates making making progress can you exactly no you're you're engaged sure have you personally made calls i've talked with people talk with people who have approached me about running and their viable candidates and they're not all republicans if reducing the 249 uh increase in property taxes is such a priority why not update your six-year-old cost containment plan why not hand the legislature laws that they can just say yes we'll do this why not make it as you think they'll do that seriously i have going to give them here's my suggestion legislation they know them by the way you know them they know them here's my list what do you think well for example you've suggested lowering the excess spending threshold we've passed laws that have pushed that out for a number of years we've switched from a system that measures equalize pupils to a system that measures long-term weighted average daily membership there's complicated legislative changes that have occurred that make your old proposal impossible to implement why not flesh that out or we're ready willing to enable but they have to be willing as well i mean as i've said many times you know bipartisanship isn't a one-way street but it has been in this building seems like ever since i got here i've been giving i've been reaching across the aisle i said at my my budget address we say the state i'm not asking you to do across the aisle i'm asking to meet me in the middle i'm still still there and available to do that but we have to set some parameters we have to be realistic and for monitors are feeling this i mean if you're not hearing from them i i'm i'm at a loss because we're hearing from them you must be the lion's share of the proposed new revenue from a new tax bracket on income over five hundred thousand dollars how does that proposal exacerbate quality of life of the people that you're doing well it's just that the talk of increased costs anywhere and again to think that some of these costs won't impact anyone other than the people were taxing so there is a you know there's a flight risk to raising taxes on the most wealthy i think the jfo even recognizes that they put in a think 35 percent or something allowance for that so you know when i say it nobody believes it jfo said it it's a tax flight we're going to allow for that probably will come so how much is that going to be and who are the 35 percent are they the the ones making just barely 500 000 and i would guess those who are making about 500 000 next year are going to make 495 or maybe those making 550 are going to make 495 they'll figure it out and and those making a million two million whatever it is i don't we don't have that many they're going to make decisions too so what if it's what if the 35 percent is those are out of those making over a million dollars a year that'll impact us individually all of us because there's only so much money in the system and if they leave we'll feel it but we won't feel until next year so you know i'm going back to what i said since day one you know i'm i'm just i can't accept raising taxes and fees and i know it's tough but at the same time we have to do it in our own individual lives in our own households in their own business and we have to do it as a legislature as an executive branch working together to make sure that we're not pricing people out of vermont and forcing them to make decisions down the path they don't want to go they want to be viable they want to take care of themselves we're pushing them into poverty we'll see what they look like and i'm not going to but i i've said i'm not in favor of raising tax and fees i think we can do without it got a few folks on the phone so we'll start with tim mcquiston from business magazine wondering governor also about the the wages and that you were talking about you could meet the legislators in the middle somewhere is that something on on um you could meet them on the middle odd on the higher you know separate out the the high income wagers from some of the other tax increases back you know yeah nothing about your your strategy about yeah tim i i just don't know i mean you you must be hearing from your members the business community must be concerned about what they're seeing unless i i'm only hearing from if you dozen of them but maybe you're hearing something different are they concerned uh most of the concern frankly is on the on the property tax side that we're hearing from i'm concerned about both thank you and barbara newport daily express governor can i ask you to elaborate a little more on age uh 687 as to the effect that it will have on the rural communities of smaller villages and towns yeah well it doesn't you know they'll provide in time there will be more expansion of act 250 throughout the state and we'll be giving attack or act 250 exemptions to two other it's just some communities but i i think it's only maybe a couple dozen other communities the rest will be impacted but i might ask who's on is julie on today ed will get you exactly um some of the the concerns we have with that bill it's it is in tears um and it you know it from my standpoint we have immediate needs now for more housing and this that bill does nothing to help in that regard it may be something that we want to do and it's a long-term strategy longer term next you know four to six years and that's okay if that's where we want to end up but we need relief right now to get more housing built because this is a crisis that we have and if we have as i've said before if this is truly a housing crisis then we better act like it is and we're going to have to do some things that are uncomfortable for some in order to accomplish that and that may be some of the regulatory reforms we're talking about like is in some of them are in i'd like to see it go further but in s3 11 i think that's a that's a good bill it could be better but it's a good bill and would provide some of that maybe they'll maybe they'll endorse that and move forward maybe there's a way to do both but from my standpoint the immediate need is housing and i don't see the other bill accomplishing anything in the short term except making it more complicated sami's the more information at the art salon thank you very much ed is anybody up in newport concerned about taxes higher taxes i think everybody in newport is concerned about higher taxes there's no question about it um passing school budgets was not fun for other people here because they don't know when package is going to happen their taxes and till the legislature um that's everything set up for the end of the year i think that's a major concern that the voting on a budget they don't know what the dollars are that might be something to consider the future there's a way that you can get a better number of people in december to january when they're building budgets instead of may whether they buy past their budgets and march i don't know how you can do it but that's what we like to do that for thank you thank you ed tom davis comes from i thank you jason okay but uh governor um one of the latest revisions of 687 pushes out the date to start considering these municipalities out to january 2027 which on the surface is basically saying uh we don't see any urgency for housing we're willing to go back and on and set an average money to create a new environmental review for it did they provide to you or your office or staff any justification for taking the camera far down the road? not that i recall tom but i can i can check with julie and others who have been on the front lines but not that i am aware of do you feel that there's enough of a pushback that's happening in the legislature that that bill may come back to be more bipartisan we can hope i i don't i don't know you know a lot of things can happen in this building uh during the last month or two of a session so um i'm hopeful but i'm not there i'm not betting on it thank you another question back to the room governor you mentioned you've been in the political minority most of in fact all of your time as governor forever this this conversation kind of has a different feel to it uh you know we've heard at least i've heard at least a couple of republican lawmakers that are choosing to step back because of some of the issues that you're raising where do you draw the line as to whether to run whether to continue like where where personally where do you draw you know i i love my state and i think we have so much to offer there's so much opportunity here if we play our cards right if we follow through on some of the promises we've made i get frustrated when i see a new legislative session and there's always the shiny new objects that come along and they forget about the ones they started two years ago or four years ago they don't follow through and they instead find this new shiny object that takes all their attention away and and i i just think you know going back to the fundamentals trying to to give vermont is what they what they need but they at the same time being really realistic about our economy and and the the impact we have on every day for monitors this is gift creek credit uh to vermont public uh read there was a story that i read this morning about uh wanita nun i believe in the callus and uh heartbreaking to read the story well done but heartbreaking here's a woman lost her husband uh this home has been in the family for since the 1800s i believe and now she's had to buy a mobile home put it out in the back of where the home is the home she's lived in for three decades and uh because it's less expensive to heat uh less expensive to maintain she can't maintain she loves her home but can't maintain it so she's going to move into this mobile home uh and dismantle this piece by piece this beautiful old farmhouse that's out in callus because she can't afford the taxes she's on a fixed income she can't afford to live there in the in the same house she's been living in the three decades so heartbreaking story but my first reaction to that was i was thinking when i was reading i said we we got to go out there and help her we got to help wanita we we need to fix her home and then i thought that doesn't fix the problem she's we could fix the home so she could stay there but she can't afford the heat and and she can't afford the taxes we're not fixing that those are the fundamentals i keep talking about so until we fix the structure it's hard to know what to do next um because it's really the fundamentals those are the issues that we have to face but my hats off to Vermont public for talking about some of these stories the stories man and peter that's another powerful story wanita none powerful story we need to hear more of those well we have programs available and and maybe yeah i mean maybe now that we know maybe there is something we can do i don't know i first i've heard of wanita hill uh none i mean and um but we'll we'll be reaching out there's some talk in the house about getting the issue of property tax increase by eliminating the exemption on sales tax for software as a service again raising funds to offset this doesn't fix the problem we have a structural problem in our in our education system in general it costs too much for what they're getting so until we fix that why are we throwing more money at it why aren't we figuring out what we can do to fix the structure like that that's just a poor business decision as far as i'm concerned so you've hired a new secretary of education with experience in closing schools you talked about that last week a characteristic approach is that something you see your agency of education being active in and sort of pushing you out of closing small schools well i i mean it's part of part of what we have to i've always said that's not the complete strategy what i've said is that's got to be on the table amongst many other things everything has to be on the table in order to work our way out of the hole we find ourselves in but as i said i think it was maybe my first state of the state when you find yourself in a hole stop digging we keep digging and keep filling back filling with cash that's not fixing the problem so we've got to get realistic about what it is and then we should start with it with the kids the students and work our way back out from there what's best for them what are some of the other structural changes that would reduce educational again we have we've provided a number of those thoughts over time and some of them are still valid some of them has been pointed out probably or not but we've got to figure this out we we can't continue to have this inefficient system that is not helping our kids and it's just and it's actually hurting everyday Vermonters with higher property taxes and to switch it to something else just to switch it to an income tax or whatever it doesn't fix the problem it goes back to and we can do all that if you know once we fix the structure or simultaneously simultaneously fixing the structure while we while we fix the inefficiencies within the system sure but but just throwing more money at it we've proven that hasn't worked can you talk through the timeline of your appointment of Zoe Saunders so it's my understanding that in November the state court of education sent you a list of free names as it was required by law that was before she took her job in Broward County where it was reported she primarily led a school closure initiative did you know at the time when we received her name that she had taken a job in Broward County or is there some sort of arrangement where she was only going to take that job on for a short period of time no we we just received the names from the state board that's the way it works we didn't have any involvement in that decision and then forward the names with her resumes then we interviewed from there and so had you talked to her before she took that job like we there were many many levels of engagement with the candidates and and mine came at the end with all candidates so I can't say that I I don't know what they asked or what they knew but but these have been going on for a while multiple levels different people within our administration we want to get a full breadth of you know who who these people are and what are their capabilities and who's the right person at the right time for this position this important position and it wasn't a concern that a candidate took a new job in the middle of interviewing this job no I I wouldn't think that anyone would be precluded from from being considered they have to live too so taking another job I think her goal was to to get this job but to take another job in between I think you know I think we all have to do the math and think there might be a at least a 30 percent chance 60 percent chance maybe she wasn't going to get the job just don't know with three candidates so I don't I don't I don't see that that's relative well we've we've done quite a bit I think in the BAA for instance they took four million out of what we were going to use for shelters emergency shelters homeless shelters and gave that to VHCB so I mean we we think that's part of the answer but we need housing throughout all different levels of income in order to make this work we just plain need more housing so we provided for that as well we think that we need to we can't do it with state funds we just don't have them we need to make it easier for private entities to build as well so I know that you talked a lot about the what you see as a need for deregulation in order to encourage more building what do you make of housing or advocates argument that that does not necessarily help lower income folks as much as signal or higher income well I think whether you're setting up a homeless shelter or building a moderate income two bedroom home or a condo or apartments the permit process is part of the issue takes time to get through it I would think the nonprofits would talk about this as well they have difficulty getting through the permit process so again if we are serious about housing getting it put into place as soon as possible we can we have to do things treat a like a crisis and do things that may be uncomfortable and some of that is in regulatory changes maybe just short term regulatory changes and that'd be forever but let's let's get moving on clearing the path so we can get the housing that we I thought we all agreed we needed it package I think yeah I think opening up the payroll tax at that point in time was a mistake I I vetoed that you know so I still feel that way today I think I bet there are many legislators who maybe sit on different maybe appropriations committee at least they had that taxing capacity today that might help us out of a couple of jams we're in but they already took that step I'm still contemplating that I think I've talked about some of my concerns about about are we treating this as we do flavored alcohol and some of the other choices that adults make and so you know we we have we have cannabis now that's legal and we have edibles we have cannabis in there isn't that a concern as well I mean there's there's all these things that flavored alcohol flavored beer I mean we have we have it all and we promote it so I I'm having trouble justifying why this is so much different than the others so again I am not a smoker I never never have been never will be and my preference would be that no one smoked but that's not a reality and there are adults in this in this world that choose to do what they want to do that includes other areas whether it's alcohol cannabis or or cigarettes and tobacco the house is also advancing uh or maybe with the senate I think it's the senate I'm sorry um still assigned in the classroom um working group exploring therapeutic um benefits uh have you seen the idea what do you think I've seen um just I haven't looked into that um I thought we passed the mushroom bill but I understood that that wasn't the one that was passed but um I uh I just don't know enough about this one I'll confer with our our our folks to see whether it's something that can be utilized safely uh and whether it should be I'm sure the legislature is contemplating the same thing though governor are you still holding your weekly or bi-weekly meetings with house and senate leaders we have them on the calendar every week yes do you know I do are they not always but there's there's a lot of floor time at this point I mean I I get it I mean they're busy there's it's hard to carve out time to meet with me aren't they on Monday no they're typically on uh Thursdays or Fridays we schedule them every week every other week I haven't I haven't analyzed that I'd have to get back to you get my statisticians uh statisticians working on that well I ask because you mentioned earlier in the past talking with legislators I met with uh I think uh Senator Barouf last week I think so yeah we're talking do you think often enough well until there's something to talk about until there's some some reasonableness um I don't know what we'll talk about seems like there's a lot to talk about we're here yes I fully recognize that are things friendlier less tense what is that one-on-one yeah no no you know I try and put politics aside I truly believe in respect and civility there's always things we have in common we may not agree but but that's been the way I've conducted myself over my over two decades of political life and it served me well and I'll continue to do that I'm frustrated admittedly with some of what I'm seeing this year but that doesn't mean that they say animosity there with with the leaders can you understand there why for why they don't know this yeah I mean yeah I mean there's sure I mean it's I think it's a lot of it's politically motivated and worried about the next election and they have to show up their base you think that's the motivation to them primary motivation I think for the tax on high income earners and why yeah I think they have to work there they're not going to cut during an election year they don't want to I mean they need to they need to fulfill some of the promises they made governor I talk to a lot of teachers and they tell me you know we really like Phil Scott we like but it seems like he doesn't support teachers or public schools or or you know the unions and why do you think that is that they say that well because you know I'm the one that always brings up having to do something different with the system that we have and that always goes back to them I mean the reality is I think a high percentage of the cost is in is in labor and education so some of it is in inefficient schools and so forth and so on so it always leads to I'm attacking them but that's not my motivation it really is about I support our teachers I think they do a great job with what they have but we've given we don't we don't give them all the tools they need we spend a lot of money but it's not used wisely enough so if they were if we were able to get a work on a system that's that satisfies some of my structural concerns I think that they would see the merit in that we'd have better we've had better outcomes but it's this isn't an attack on on teachers or unions I mean we need them we need more of them they're we're in deficit there but this might be the time to consolidate in different areas so that we can all get what we need thank you all


Grafino nanocomposites are a promising platform for developing novel electrochemical and SRS-based biosensors for diverse applications including stem cell differentiation, cancer diagnosis, and treatment. This article was authored by Brahim Khalil, Nirhadeh Achaleli Mudjul Kapli, Weiji A. Yehee, and others.


Income tax 2021-2022, cash method. Get ready to get refunds to the max, dive in to income tax 2021-2022. Most of this information can be found in publication 334, tax guide for small business tax year 2021. Income tax formula focused on the top line, the income line, noting that we would have a subschedule in essence an income statement with income and expenses. The expenses basically being deductions, bottom line, the net then flowing into the top line here of the income tax formula and into the first page as we see here of the form 1040, the schedule C flowing into the schedule one and then ultimately here to the first page the form 1040 on line eight. This is the schedule C, basically an income statement for the business income. Now we're looking at the cash method, remembering recalling back that when you're looking up the schedule C business, then you might have the different accounting methods. Most people think of the accounting methods as cash method or a cruel method, but really you could have a hybrid between the two methods and just realize that even if you're on a cash method, then you're really gonna be on a kind of a hybrid method in any case, if you have things such as large pieces of equipment for example, because in that case it kind of deviates or pulls you to an accrual component. The tax code forces you in other words to act more on an accrual basis in that case, putting it on the books as an asset, even though the tax return for a schedule C business doesn't have a balance sheet because we only show the income statement on the schedule C for bookkeeping purposes, we would see it on an asset and the depreciation schedules at least on the tax return as well and then depreciate it. So that's gonna be an accrual component. So as you think about these methods, we gotta think about which method are we gonna determine and tell the IRS that we're going to be using. We wanna make sure that we're then consistent with that method because if we change methods that will cause those problems, the IRS wants consistency and then we wanna think about what does it actually mean to be a cash method, accrual method or some kind of hybrid and try to break up our normal thought process which is these things are two completely separate things and they don't mix at all. The reality is then usually there is at least a little bit of mixing your relate to more one side of the other of the spectrum. So most individuals and many sole proprietors with no inventory use the cash method because they find it easier to keep cash records. So the cash method is typically thought of as an easier method because in essence, if you have a basic business, you can basically create your books in essence from the activity on the tax return because the cash flow, the cash flow is like the lifeblood of the business. But if you're doing an accrual method, you're gonna have many more transactions that don't have cash related to it and therefore it's a little bit more complex. However, it's more accurate in some ways and some businesses are required to have an accrual method just by the nature of the business that they have. So for example, if you have inventory, it's another place where we basically almost have to if you're accounting for inventory in a similar fashion as normal people do for the inventory, you put it on the books as an asset, that's an accrual type of thing to do. If you attract things like an accounts receivable, meaning you don't get paid at the same point in time that you do the work, then you're typically gonna have to be on an accrual basis at least for your record keeping purposes and the general rule, at least on the cash side, on the revenue side of things because you're gonna have an accounts receivable account, which is an accrual account because now you're recording something that's not a cash related type of thing and you're recording revenue when you did the work, when you invoiced the customer and that just relies on what type of business you're in and if you're doing that on the bookkeeping side, the general rule is that you would want to basically follow that method on the tax side. Now it's quite possible that many businesses might be doing an accrual method because they have to invoice on the revenue side but maybe not on the payment side. Maybe they're just making cash payments and recorded it. That would be like a kind of a hybrid method between the cash and accrual methods. So however, if an inventory is necessary to account for your income, you must generally use an accrual method of accounting for sales and purchases unless you are a small business taxpayer defined later in this chapter.  Are you tracking the inventory? Is it a significant part of the tracking process for inventory? If so, then you're doing kind of an accrual type of thing at that point in time. Tracking inventory on the books as an asset is an accrual type thing. So for more information, you can see inventories later. Income under the cash method, include in your gross income, all items of income you actually or constructively received during the tax year. If you receive property or services, you must include their fair market value in income. So you gotta record the income and the key words here, obviously when you get the cash. So on a revenue recognition principle, which is an accrual concept principle, then you record income when you did the work, whether you receive the cash or not. So for example, if it was an accrual method, you would be saying, if I invoiced somebody, I'm going to, and that means I did the work and I sent out the bill.  But if it was a cash basis method, you're not gonna record income until of course you receive the cash, not when you actually do the work. And so the key terms, income, you actually or constructively received during the year. So in that case, you could think about people trying to kind of like manipulate the cash, the problem with a cash basis method, it's, it's, it's can be manipulated. It's easier, but it can be manipulated. And some of the things that people think of to manipulate it aren't, don't really work under this constructively received area. So for example, if someone sent you a cash payment like a check or something and you just decided not to open it, right? And until after the year end, because you didn't want to record it in revenue and it's just in the envelope until January, when you open it and that's when, well, you can't, you're not, can't really do that. You're not, because you have constructively received it. There's nothing stopping you from, from actually opening the, the, it's basically your money at that case point just because you didn't deposit it. It doesn't mean that you're restricted from it at that point in time. So if, so that's the general, the general rule, if you get bartered information, so you might say, if I'm on a cash basis and I never even get cash because I traded stuff, then I never have to record income because I didn't get any cash. Well, you can't, you can't do that. The fact that you're on a cash basis method doesn't mean that you don't have to record revenue. If you do a barter transaction, then you've got to record the revenue at the fair market value of the barter transaction. So example, on December 30th, 2020, Ms. Sakamor sent you a check for interior decorating services you provided to her. So we did work, she sent us a check. You receive the check on January 4th, 2021. You must include the amount of the check in income for 2021. So you see the cutoff date kind of problem here. The work in this case was done in 2020. That's when we did the work. So under an accrual method, we would record it in 2020 when we sent out the invoice, but we didn't get the check. We received the check in the mail in 2021. So under a cash method, we would put it in the books in 2021. Now, in this type of business where you're sending out an invoice and expecting to get paid in the mail, oftentimes you might want to be on an accrual method in that case because you would be tracking the accounts receivable and the accounts receivable tracking would be an accrual component. So if you used software, for example, to create the receivable, it would generally record the income when you made the invoice December 30th, which would be an accrual kind of component. So we got the constructive receipt. So what is that key term? You have constructive receipt of income when an amount is credited to your account or made available to you without restriction. You do not need to have a possession of it if you authorize someone to be your agent and receive income for you, you are treated as having received it when your agent received it. So you can't just say, okay, I'm gonna have this agent, I hired an agent to receive the checks and then I'm just gonna let them hold on to it until I want to get the money. And again, you can see what you're trying to do here. People would be trying from a tax perspective to delay the income possibly. So I wanna have control over it, I received it, but I got my intermediary over there that got it. It wasn't me, so I don't have to record it in income for the current year, I'm gonna record it next year when they actually give it to me on January 1st. Now, you can't do that because you have constructive receipt over it at that time. So example, interest is credited to your bank account in December 2021. You do not withdraw it or enter it into your past book until 2022. So obviously if it's in your bank account, you had it in 2021, even if you don't put it into your bookkeeping or whatever until 2022. So you can see these are other things that you might say that could happen by accident, and it does sometimes, but the point is the cutoff, these cutoff things are kind of the point. They can be kind of important and that's where people will try to cheat things. These cutoff dates is where people will do the manipulation and so these are the rules about that. So you must include it in your gross income for 2021. Daily receipt of income, delaying receipt of income. You cannot hold checks or postpone taking possession of similar property for one tax year to another, avoid paying tax on the income. So you can see this is what the IRS would be concerned with. They're saying, well, if it wasn't a cruel basis, you did the work, you record the revenue when you did the work, whether you received the money or not. If it's a cash basis, you might be saying, hey, look, I'm going to try to defer the cash payment, even though the work was done until after the cutoff date, after the year end. So you must report the income in the year the property is received or made available to you without restriction. Example, Francis Jones, a service contractor was entitled to receive a $10,000 payment on a contract in December, 2021. He was told in December that her payment was available at her request. She was not paid until January. So now you're basically saying, they're saying, hey, you have full access to the money right now. I can pay you the 10,000 right now. I can, and you're basically, and the tax payer saying, no, I don't want you to pay it right now. I want you to pay it to me on January 1st. Well, you kind of have constructive receipt at that point in time, because you have full control. There's nothing stopping you. There's nothing actually in your way to taking the money at that point. So she must include the payment in her 2021 income because it was constructively received. And again, you can see the objective of the taxpayer. This is that cutoff playing with the cutoffs with the cash basis, trying to say, hey, look, I'm just not gonna include it this year. I'll include it next year because my income's too high this year or something and so on. So checks, receipt of valid check by the end of the tax year is constructive receipt of income in that year, even if you cannot cash or deposit the check until the following year. So you can't just hold on to the check, another method that that could be. And that would be quite common for people to try to do that because you could say, hey, look, I want you to pay me because I wanna make sure that I get paid for my customer. So I'd like to get the check, but then I'll just hold on to it until January. Well, you're not supposed to do that because you constructively, there's nothing stopping you from cashing the check. So you've kinda earned the income when you got the check. So example, Dr. Reed received a check for 500 on December 30th, 2021 from a patient. He could not deposit the check in her business account until January 3rd, 2022. She must include this fee in her income for 2021. Debt's paid by another person or canceled. If debts are paid by another person or are canceled by your creditors, you may have to report part or all of this debt relief as income. This could be confusing. And it might be something that's more applicable in the last couple of years due to the fact that we've had all these problems going on and there were PPP loans and have a similar kind of characteristic where, but let's just, in normal conditions, if you had debt and someone cancels the debt, then that's kinda like they gave you money and then you gave it back to them, right? Because you don't owe them any money anymore. So that's basically income to the IRS unless there's some kind of exception or law to the rule. So if you receive income in this way, you constructively receive the income when the debt is canceled or paid. And some people, when you start saying I'm a cash basis taxpayer and they try to imagine ways to avoid taxes, you start to say, well, if there's no cash trading hands, then I don't owe any money. And so you can see that with the barter situation. I'm on a cash basis transaction and I did work for this other person and then they did work for me doing whatever they do. And so I shouldn't have to pay any money because there was no cash. Well, that's true, but what really happened, you can imagine there is that, the other person did work for you, you paid them and then you did work for them and they paid you, right? You can imagine cash being in the transaction. You just eliminated the middle person of the cash transaction. So the other is to say, no, and this is the same situation if the loan was canceled. That's kind of like the bank gave you money. That's kind of like income.  So it's basically income. So for more information, so you can see canceled debt under kinds of income in chapter number five, payment of income. If you include an amount in income and in a later year, you have to repay all or part of it, you can usually deduct the repayment in the year in which you make it. So if the amount you've repaid is over 3,000, a special rule applies. So now you got that situation where, and this is similar, like kind of like the situation where the state tax refund we looked at in the past where, so now if you include amount in income, you had to include it in income because you received the cash in one year, but then you had to pay it back in the next year after the cutoff. Well, then what are you gonna do? Should you go back to the prior year and say, well, that wasn't really income. So I gotta amend my return and not record that in income. Not usually, usually in that case, then in the current year, they're gonna say take it kind of as a deduction. So we don't have to go back and amend the prior year and that should even everything. It's out, although it can get messy because you might be in completely different tax brackets in a completely different tax situation from one year to the next. So for details about the special rule, scenery payment in publication 11 or chapter 11 of publication 535 expenses. Under the cash method, you generally deduct expenses in the tax year in which you actually paid them. This includes business expenses for which you contest liability. So that's gonna be the general rule. So when you pay, that's when you record the expense on the cash basis. However, you may not be able to deduct an expense paid in advance or you may be required to capitalize certain costs as explained later under uniform capitalization rules. So now you can imagine on the expense side of things, expenses are good for taxes. They're usually bad, but for taxes, they're good. So if you're on a cash basis, you can imagine how can I manipulate the cash to try to get more deduction earlier? I can prepay my expenses. I can go through my expenses like my rent and I'm just gonna pay 10 years worth of rent upfront right now and take the deduction today. Well, the IRS is not gonna like that. So they're gonna put exceptions on the cash basis with regards to prepayments. And then you got the exceptions with the capitalization. This is stuff like property, planted equipment that's depreciable assets, typically. So expenses paid in advance, you can deduct an expense you paid in advance only in the year in which it applies. So in which it applies. So example, you are a calendar year taxpayer and you pay $1,000 in 2021 for a business insurance policy effective for one year beginning January 1st. You may deduct 500 in 2021 and 500 in 2022. So notice what they did. They basically said, you're kind of on a cruel basis with regards to that because we don't like this prepayment business in that situation.


QuickBooks Online 2024, sales by customer graphs. Get ready and some coffee because we're diving into it with Intuit's QuickBooks Online 2024. Here we are online in our browser searching for QuickBooks Online Test Drive, looking for the result that has Intuit.com and the URL Intuit being the owner of QuickBooks, selecting the United States version of the software and then we're gonna verify that we're not a robot. Opening up our major financial statement reports like we do every time. Reports on the left-hand side, we're in the favorites, right-clicking on that balance sheet so we can open it in a new tab. We're gonna right-click on the P&L profit loss, otherwise known as the income statement, opening it as well in a new tab. Let's go to that middle tab. We just opened up, closed up the hamburger and we're going back in time, back to 2023. 010123 tab, 123123 tab. First, a word from our sponsor. Yeah, actually we're sponsoring ourselves on this one because apparently the merchandisers, they don't wanna be seen with us.  Like our, trust me, I'm an accountant product line. Yeah, it's paramount that you let people know that you're an accountant because apparently we're among the only ones equipped with the number crunching skills to answer society's current deep, complex and nuanced questions. If you would like a commercial-free experience, consider subscribing to our website at accountinginstruction.com or accountinginstruction.thinkific.com. Run it to refresh it. Then we're gonna tab to the right, close up the hamburger. We're gonna go back to 2023. 2024 is looking scary. I'm going back to 03. 010123 tab, 123123 tab. We're gonna run it to refresh that one. These are our major two financial statement reports. Most of the reports giving us more information about one or multiple line items, more detail on one of these financial statement reports. This time, we're continuing on our quest for the graphs. So we're looking at the graphs here and we're exporting to Excel to create them. Normal graphs you might make if you're providing these to say a client might be backing up your income for example, income by customer, income by product or service, you could even do a pie chart for income by account category if you wanted to do that as well. And then you also put some easy graphs. You can go into the balance sheet. We did one for the accounts receivable last time, breaking out the AR by a customer who owes us the money. Just an easy graph to make fairly quickly. You could make a graph about your categories of assets as well, which you might start out by doing a balance sheet summary report because it'll have less subtotals. And then we did the accounts payable as well. And you could do the same for the liabilities if you wanted to and break out all your liabilities in a pie chart if you wanted to as well, which you might wanna start off with a summary balance sheet to do that. But this time, we're going into the income lines. Remembering that income over here is represented on the profit and loss by account usually. The account being what we receive the income for by category, the things that we're basically doing, goods and services by category. We usually don't put a lot of detail in here on the income statement by customer. We don't make accounts by customer because we can have a sub ledger. As we discussed when we looked at the sub ledgers, we can have a sub ledger by customer. We don't usually put a whole bunch of detail about every item or service in each different account over here either because we can usually have a sub ledger. However, remember that the sub ledgers will only be here if we're using the major sales forms to record revenue. Those being the invoice forms, the sales receipts. If you're recording revenue possibly with the bank feeds and using a deposit form, you're gonna lose some of the depth in reporting for these subsidiary ledger reports such as the sales by customer or the sales by item most likely. So in that case, you might want to put more detail on your profit and loss report in terms of making your sales items or line items or accounts for actual customers. The other thing you want to remember here is that the sub ledger might not tie out exactly to what is in your profit and loss because the QuickBooks system does not force you to add a customer every time you post something to an income line item the way it does on the balance sheet side of things for both the accounts receivable and the accounts payable where it does force you to choose either a customer or vendor so that your sub ledgers can't be out of whack. But if you're using the sales forms to record your sales, your sales should be fine but you might make a little adjustment to make sure it ties out exactly when you do your pie charts if it doesn't tie out exactly which might still be relevant or be useful for the pie charts because it's kind of an estimate for the visual. So let's go into the tab to the left. Let me show you what I mean. And we're gonna go down to the reports on the left hand side, close up the hand boogie and we'll scroll down to the sales side the income statement supporting type reports down here sales and customers. And then we have those two ones down here. We had the, what did we have? We had income by customer and then we had the sales by customer. I believe the sales by customer is what we want because I don't need the expenses that we're taking out. Let's open them both up, I'll just show you. If I right click and open the income by customer and then I right click and I open the sales by customer they sound like the same thing but they're slightly different. Let's see, we're gonna go up top and say a range change. Let's go from 010123 tab, 123123 tab, run it to refresh it. There's our income by customer. You can see an expense line that will include like cost of goods sold possibly where we don't, maybe we don't need that. You could do the net income, net income impact but usually you're probably looking into the top line when you're making your graphs. Therefore we'll use this report, close in the hand boogie bringing it back to 2000, 230123 tab, 123123 tab, run it to refresh it and there we have it. So once again, we have these subtotals in here which might be because we have jobs in place within it and we don't typically want those because those are gonna throw off or make it more difficult for us to make a graph. I would just like to have my lines and then the total, that'll be the easiest thing to use. So possibly I could collapse them, boom and now I've just got a straight list. That looks like really easy to make some graphs from if we just export this to Excel, that's perfecto just like my friend Mundo would do it, perfecto like Mundo. So then I was gonna say something else I totally forgot. There was something important, hold on a second. I remember, note that if I go down to the total down here 10,280.05, that should tie out to our income statement on this side if I look at my total income, 10,200. It's off by $80. So possibly something got recorded with a journal entry or something that didn't have a customer or something happened. It's off by 80, but 80 is somewhat immaterial and possibly in our thought process here. So the pie chart should still be good based on this sub ledger and I could just adjust it for the difference if I need to to make sure it ties out exactly to what is on my reports. So everything looks nice and neat. So we'll keep that in mind if I remember here. So I'll hit the dropdown. Let's export it to Excel so we can make some pie charts from it and possibly some bar charts and whatever we're feeling into at the time, whatever we think our customer would appreciate and enjoy. So there we have it, let's enable the editing. Now I'm gonna put this on our other worksheet that we've been working on. If you don't have this other worksheet, that's okay. You can do it on the export but I'm imagining that we're printing all of these reports out at one time and then I would like to add this one to it using it to make our graphs. So how can I get this tab over there? I can right click on the tab if I have both worksheets open, move or copy. I'm gonna copy it over to the month in reports, boom. And then okay, pulls it over first tab. I'm just gonna drag it to the right. Drag it to the right, there it is. I'm gonna call this my sales by customer data and then we'll just use this as our data and then maybe I'll put my graphs in another one and I'll hide this tab so that I can print it and it doesn't show up my data tab but only my cool graphs that I got from the data tab. All right, we'll do this a little bit more quickly cause we've seen a similar process in the past. I just wanna trim this down, clean it up, take the data, make a pie chart. So I'm gonna go from one to five, right click and delete all of this. I don't need the header. I don't need the total on down, right click and delete. I'm gonna make it all one format for the entire sheet which I wanna be like this cell to start off with which is Calibri 11. So I'm just gonna format that and format paint the entire worksheet. And then I'll right click and I'll format it the way I want it to look. So it's all uniform, everything's the same. You're not gonna confuse me with all this different looking stuff. We're gonna make it currency, negative numbers bracketed and red, get rid of the dollar sign. We don't need the pennies in our worksheet here. I don't think. So let's go ahead and say, okay, I'll in bold it because we need to be bold with our recording videos. I'm gonna, you don't need to bold it possibly on your end, but that's just what my producer says that I have to be bold. And so I don't wanna get fired or anything. So I'm gonna be as bold as I can here. So that's as bold as we can go. Excel won't let me get any more bold than that. So then I'm gonna say that, now if we make a, well, we have to put this into a filter from top to bottom. So I could go to the data here and then we could go filters and filter it this way. But I like entering a table. So I'm gonna make a table out of it, insert a table, boom. And then I could put the headers in here. This is the company, this is the customer sales. And then I'm gonna sort it from top to bottom, hitting the sort. We're going from Z to A, A, Z to A, A, A. All right, so then we're gonna, then now if I make a pie chart out of this, there's too much happening, too much happening here. So let me show you, it's gonna be too small of slices of the pie. So I'll go to the home tab. We're gonna have to make some adjustments to this if I wanna make a pie chart home tab. And charts, pie chart, let's just do the standard pie chart and see how you've got all those really little slices and the keys too long. I mean, that's like, that's not a pie. That's not even like a candy bar. No one's gonna appreciate the level of slice there.  So let's go ahead and see if we can just take like the top 10. One, two, three, four, five, six, seven, eight, nine, 10. And then we'll just do nine and then 10 will be everything else. I'm just gonna select all these. That adds up to two, five, four, six. So I'm gonna make this two, five, four, six and delete everything after it. I'm gonna call this other, other. And then I'll just delete, I can just delete. Now I'm gonna delete completely. I'll just delete this whole thing, the whole rows on my table and delete it. And then I might wanna double check that my table because I played with it. Make sure it still ties out to the total that I want it to tie out to. So I'm gonna say, let's make a total column, table design and I'm gonna add the total rows. So there's our total. And then I'm gonna compare that to what's on my report over here, which is 10,280. Now I'll make a slight tweak now because that one's not quite what's on my balance sheet, which is on the balance sheet, or no, on my income statement, it should be 10,200, maybe 10,201 if I round it. So I'm gonna say it should be 10,201. The difference, let's just do this. If I delete this one and subtract this, then this one should be 2466. There, now I have a total that ties out exactly to what's on my income statement, even though it doesn't exactly tie out to what was on this report, but you see what I mean? Because that will fit what's on the income statement now. So then we're gonna say, okay, it's still got some fairly small slices. We might even take it down further than that, but let's just play with this one for now. The legend, let's bring it to the right. And so that's okay, I guess. Top left, let's keep it on the right. I think that's the best. And then maybe I make it a little bit larger. And then we could once again, say we want the data labels and maybe we want it in percent format. So more options and then percent instead of values. And then I can close that. And then I can go to the format and within the word art style, I can make it white and then maybe bold. So it stands, okay, I'm gonna stop talking like that. What in the world is wrong with you? All right, note that I couldn't, now if I wanna check those percentages, I could say this is the percent of sales. And then this is gonna be equal to this number divided by the total. And then if I was to select all of that stuff to format it like a percent home tab, number percentify. You best percentify if you wanna recognize and then we'll sum it, okay? So there's our percentages. Now we could have done that first and then made the pie chart if we wanted to. I'm holding down shift to select the non-adjacent columns. And then I'm going to the insert and pie chart this way. See, so I could have done it that way. And then when I went to my data labels, I wouldn't have had to change them because they would be in percent format already. But either way you wanna do it, then it's up to you. It's up to you. So now I can select these again. Maybe I want like a bar graph as well. Insert, the bar graphs are right here. No, that's the histogram. Bar graphs are here. We've got the standard bar. We've got, now we've got the fancy looking bars this way. We haven't done that one yet. Let's do one of those. The 3D bars are not as deceiving. They don't annoy me as much. The 3D pie charts, I feel like some sneaky politician bureaucrat in the company's trying to manipulate me or something. But this one I don't think is really, is not as manipulative looking. Doesn't look like it's trying to throw off the numbers too much, although it makes it a little less clear. But I kind of like it. So I'm okay with that. So then I'm gonna say this is gonna be the data labels. We can put those on the top, which we can put in numbers this time, which is probably more common than percentages because the percentage would be like a pie chart thing. And then maybe we wanna put this on a new tab, just like we did before. So I'm gonna make a new tab and I'll copy this name, right click, or I'll just double click on it maybe and copy. I'll put that over here, but then wait, double click and then get rid of the data, even though it just is dat, which isn't quite right. And then I'll just copy, I'll just move these. I'm gonna right click and cut this and I'm gonna put it over here and paste it. And then I'll do that again, I'll just cut this and then I'll put it over here and paste it, boom. And then let's check out the layout, page layout back on over. And so it's still, maybe I don't want, maybe I wanna go landscape again, page layout, orientation, landscape, because these need to be appreciated in their full glory, it didn't do it. That's not landscape, is that landscape? Are you kidding me? It's not doing it. Let me just check out, oh, wait a second, what did I do? If I go to the print preview and we look at the whole workbook, let's just go to the active sheet. See, it's still portrait. I told you to go, here's another way I can go to landscape here. Okay, that'll do it too. Sometimes it gets a little wonky and it won't do what you tell it to. It's like my dog. Okay, so then I'm gonna make this a little bit larger and then I'll try to fit them both maybe on one page, landscape. So maybe, see if I can get them on one page, landscape. I'll make this one long. That one can be super long. This one doesn't really need to be as long, I feel like, because it's a pie, it's more of a square format. So that fits on one page. Put it down, I don't put it down here. And then, oh, oh, no, control Z. Put this here. Okay, maybe I can put this up and then drag it down. Okay, that's good enough. This is just an example. But if I print it, then I don't want this sheet. So we have the same thing, same problem we looked at before. If I go to the print options, if I wanna print the entire workbook now, wait a second, now it's on, well, wait a second.  Now notice I'm on one chart. Sometimes it doesn't let me do it when I'm on one chart too.  And then now it starts at the beginning, you might not have all this stuff in yours because you might not have followed everything I'm doing here because I went, but the point is, see now before that I have this sheet I don't want. And then I have my chart which is what I do want.  So I'm gonna hide this one, right click and hide. And now I'll see these two sheets will be side by side at the end of our report. Let's go to the file and then I don't want, I could hide the data tabs here like I'm gonna hide this one again too. Hide that data tab, I'm gonna hide this data tab. And so now we just have the graphs and not the data tabs. All right, let's go back on over file, print and entire workbook. Let's check it out, admire, we'll admire the progress, the process, the landscape. Look at that, my client is gonna be so impressed. This is gonna be great. So there it is, let's print it out. Let's print it out, let's see what it looks like in a PDF format, because that's what I'm gonna email or put in my cloud drive. I'm just gonna save it over the top of this one. And then let's open it up and check it out in that format, make it larger. So here's our reports, balance sheet reports, balance sheets, we've got our income statements and then we've got our landscape view, still vertical. We got the fancy AR graph that looks different and then the customer. And then we've got our vendor balance graph and then we've got our AP ones that we did. They got the sales graphs that look fancy and the sales graphs.  I'm not sure, I would appreciate it myself but that's what there's a saying of anyways, that's the sales thing. We might go into another one of sales by item in a future presentation, so look out for that one.