Debits and Credits Podcast

Ep 17 - Pass-Through Entity Tax (PTET) Explained: A Closer Look At Impacting Pass-Through Businesses and Their Owners

In this episode of Debits and Credits, Michael C. Haas, CPA breaks down the Pass-Through Entity Tax (PTET) and how this state tax election may provide federal tax benefits for owners of pass-through businesses. Michael explains how PTET works, who may qualify, and why it has become an important tax planning strategy for partnerships and S corporations. #PTET #PassThroughEntityTax #TaxPlanning #BusinessTaxes #CPA #SALTCap #Accounting #DebitsAndCreditsPodcast

Ep. 16 - Insurance every escrow company should consider: Understanding policies that protect escrow operations and client funds.

In this episode of Debits and Credits, Michael C. Haas, CPA discusses the essential insurance coverage escrow companies should consider to help protect their business operations, client funds, and financial security. Topics include surety bonds, Errors & Omissions (E&O) insurance, cyber insurance, workers’ compensation coverage, and protections offered through the Escrow Agents’ Fidelity Corporation (EAFC). Michael explains how these policies and safeguards support compliance, risk management, and fraud prevention in today’s evolving escrow industry. #Escrow #Insurance #CyberInsurance #EOInsurance #SuretyBond #RiskManagement #Compliance #EAFC #TrustAccounting #DebitsAndCreditsPodcast

Ep. 15 - Trust Accounting Best Practices: Protecting client funds through accuracy, compliance, and control.

In this episode of Debits and Credits, Michael C. Haas, CPA discusses trust accounting best practices and the importance of internal controls in protecting client funds. Topics include trust account reconciliation requirements under California Code of Regulations § 1732.2, fraud prevention tools such as Positive Pay and Payee Positive Pay, and the role of manual control reviews in identifying errors and unauthorized transactions. Haas explains how strong accounting procedures and banking safeguards help escrow companies maintain compliance, accuracy, and financial security in today’s increasingly digital environment. #haasanddawe #TrustAccounting #Escrow #PositivePay #FraudPrevention #ClientFunds #Compliance #FinancialControls #Accounting #DebitsAndCreditsPodcas

Ep. 14 - The Role of Trade Organizations In The Escrow Industry.

In Episode 14 of Debits and Credits, Michael C. Haas, CPA highlights the importance of trade organizations in the escrow industry, including the American Escrow Association (AEA), Escrow Association of California (EAC), and California Escrow Association (CEA). Michael discusses how these organizations support escrow professionals through education, advocacy, and industry standards, while helping members stay informed on regulatory changes and best practices. This episode underscores the value of staying connected to professional organizations and the role they play in strengthening the industry as a whole. #Escrow #TradeAssociations #EscrowIndustry #RealEstate #Compliance #ProfessionalDevelopment #AEA #EAC #CEA #DebitsAndCreditsPodcast

Ep. 13 - Compliance Update: New FinCEN Rules For Settlement Agents

In this episode of Debits and Credits, Michael C. Haas, CPA breaks down a key FinCEN reporting update affecting settlement agents nationwide. He explains the new requirements for reporting buyers in all-cash real estate transactions, including seller carry-backs and hard-money loans, and how these rules aim to monitor potential money laundering. Originally set for December 1, 2025 and deferred to March 1, 2026, the rule has been temporarily vacated by a U.S. District Court in Eastern Texas, suspending reporting for now. Disclaimer: Consult your legal counsel regarding how this may impact your business. #FinCEN #RealEstate #Escrow #Compliance #MoneyLaundering