Debits and Credits Podcast

Ep. 9 - FIRPTA Explained

Michael C. Haas, CPA breaks down the Foreign Investment in Real Property Tax Act (FIRPTA) and what it means for real estate transactions involving foreign sellers.
Learn how FIRPTA withholding works, who is responsible for withholding, and how it impacts buyers, sellers, and escrow professionals. Michael explains the key rules, common misconceptions, and why understanding FIRPTA is critical to staying compliant and avoiding costly mistakes at closing.
#FIRPTA #RealEstateTax #Escrow #WithholdingTax #ForeignInvestment #RealEstate #TaxCompliance #CPA #DebitsAndCreditsPodcast

Ep. 8 - Wire Fraud pt. III - How To Protect Your Wire Transfers

In Episode 8 of Debits and Credits, Wire Fraud Part III: How to Protect Your Wire Transfers, Michael C. Haas, CPA focuses on practical steps to safeguard funds during real estate transactions. From verifying wire instructions to recognizing email, text, and phone scams, this episode outlines key strategies to prevent fraud and protect escrow and trust accounts. A must-listen for anyone handling financial transfers in today’s digital environment.
 
#WireFraud #WireTransferSafety #Escrow #TrustAccounts #CyberSecurity #FraudPrevention #RealEstate #DebitsAndCreditsPodcast

Ep. 7 - Wire Fraud Pt. II – Bank Schemes and Email Compromise

In Part II of this series on wire fraud, Michael C. Haas, CPA takes a closer look at the tactics criminals use to gain access to financial systems. This episode focuses on bank-related schemes, email compromise, and the methods scammers use to divert funds during real estate transactions.
Michael explains how these schemes operate, why escrow and trust accounts are frequent targets, and what professionals should understand about identifying and preventing fraudulent fund transfers.
 
#WireFraud #EmailCompromise #BankFraud #EscrowAccounts #FinancialSecurity #DebitsAndCreditsPodcast

Ep. 6 - Wire Fraud Pt. I – Digital Threats to Escrow Accounts

In this episode of Debits and Credits, Michael C. Haas, CPA discusses the growing digital threats facing escrow and trust accounts. As real estate transactions increasingly rely on electronic communication and fund transfers, criminals are finding new ways to exploit vulnerabilities through phishing, compromised systems, and fraudulent wire instructions.
Michael discusses how wire fraud schemes target escrow accounts, the risks associated with online financial transactions, and why heightened awareness and security practices are essential to protecting client funds in today’s digital environment.
#WireFraud #Escrow #CyberSecurity #FinancialFraud #RealEstateCompliance #DebitsAndCreditsPodcast

Ep. 5 - Individual Income Tax: What You Need To Know

In this episode of Debits and Credits, Michael C. Haas, CPA discusses important individual income tax developments, including the proposed “One Big Beautiful Bill,” potential changes to the standard deduction, and proposals to eliminate federal income tax on tips and overtime. Michael breaks down what these changes could mean for taxpayers and how they may affect future tax planning decisions.

Ep. 4 - Protection In Focus: Consumer Protection in a Changing Escrow World

In Episode 4 of Debits and Credits, Michael C. Haas, CPA examines how consumer protection remains at the center of today’s evolving escrow landscape. From the shift from HUD-1 to Closing Disclosures to the oversight of agencies like the CFPB and DFPI, this episode breaks down the regulatory changes shaping the industry. Michael explains what these updates mean for escrow professionals, real estate transactions, and the consumers the system is designed to protect. #Escrow #ConsumerProtection #CFPB #DFPI #TRID #RealEstateCompliance #SettlementServices #DebitsAndCreditsPodcast

Ep. 3 - Structure Matters: Entity Types and Tax Implications

In this episode of Debits and Credits, Michael C. Haas, CPA breaks down why structure truly matters when it comes to your business. From C-Corporations and S-Corporations to LLCs and Partnerships, each entity type carries different tax consequences, compliance requirements, and long-term implications. #BusinessStructure #Taxes #Ccorporation #Scorporation #LLC #TaxPlanning #Escrow #CPA

Ep. 2 - Understanding Escrow: From History to Consumer Protection

In this episode of Debits and Credits Podcast, presented by Haas and Dawe, host Michael C. Haas, CPA explores the origins of escrow and how the industry evolved to protect consumers. The episode breaks down why escrow exists, how regulation developed—particularly in California—and the safeguards in place today to protect buyers, sellers, and the public in real estate transactions. #debitsandcredits #escrow #cpa #haasanddawes

Ep. 1 - An Introduction and History of Haas and Dawe

In the debut episode, host Michael C. Haas, CPA introduces Haas and Dawe, a California accounting firm founded in 1949 by Morton Alan Haas. Michael shares the firm’s history, its long-standing role in the escrow industry, and his own path within the practice. The episode also offers a brief overview of escrow in California and explains why it differs from the rest of the country, setting the foundation for future discussions on tax, real estate, and escrow.  #cpa #escrow #haasanddawe