Episode 123: Big Bill Energy: Tax Tips, Roth Moves, and What the IRS Isn’t Telling You
Release Date: 08/22/2025
Episode 123: Big Bill Energy: Tax Tips, Roth Moves, and What the IRS Isn’t Telling You
Accounting and Accountability
Update on the One Big Beautiful Bill (OBBB): The firm is actively educating clients on this fast-tracked legislation, which passed with drafting errors that may require technical corrections. Nonprofit Retirement Plan Credit: A new bipartisan bill proposes extending up to $5,000 in startup retirement plan tax credits to nonprofit organizations, similar to what's already available to for-profits. Roth IRA Conversions & RMDs: Listeners get clarity on converting pre-tax retirement funds into Roth IRAs, including the rule that Required Minimum Distributions (RMDs) must be taken before a...
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Episode 122: Segregation of Duties: Your First Line of Defense Against Fraud
Accounting and Accountability
IRS Delays & Staffing Cuts The IRS is facing a 25% workforce reduction, which may delay the start of the 2026 filing season and limit live support. Hear how this could impact your business and what to expect. Disaster Relief Gets Easier New rules make it simpler to deduct uninsured personal losses from state-declared disasters. If you or a loved one faced property damage before July 4, 2025, there may be relief available—but there are key conditions. Temporary Tax Breaks You Might Miss The podcast breaks down two new deductions—the $6,000 senior deduction and the $10,000 auto...
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Episode 121: Clean Energy Out, Bonus Depreciation In: Navigating the New Tax Terrain
Accounting and Accountability
In this episode: Faw Casson will close early on August 8 for their annual all-office beach day—a fun family tradition showing the firm’s strong culture and appreciation for its people. The One Big Beautiful Bill Act (OBBBA) includes impactful updates for businesses and individuals—this episode dives into the lesser-known but highly relevant changes. C Corporation charitable donations are now subject to a 1% floor—but strategic business advertising can provide a workaround. Bonus depreciation is back at 100%, but with quirky timing: Section 179 may still be a smarter choice for...
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Episode 120: The Tax Update Episode: Deductions, Deadlines, and Dollars
Accounting and Accountability
In this episode: Announcement of two new partners at the firm, Andy Tobias and Dan Steele, and their leadership roles. Discussion of the renamed "One Big Beautiful Bill" (now simply “the Act”) and its key tax provisions. Confirmation that individual tax brackets and standard deduction increases are now permanent. Explanation of the new $15 million estate and gift tax exemption for 2026. Details on the repeal of moving expense and miscellaneous itemized deductions (except for military and intelligence). Expansion of the SALT deduction cap to $40,000 through 2029 with...
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Episode 119: Budgets, Breakdowns & Bad Debt: How to Sweat Less and Strategize More
Accounting and Accountability
In this episode: A breakdown of key differences between the House and Senate tax proposals, including bonus depreciation and the SALT deduction cap. Why self-employed individuals should pay attention to long-term care premium deductions and upcoming retirement withdrawal exceptions. A crash course on accounting method changes and how the IRS isn’t a fan of casual flip-flopping. How to properly document and deduct a non-repaid loan gone bad (even if it’s to your sketchy cousin). What to do if you or your client forgets their RMD, and how to potentially avoid a 25% penalty. ...
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Episode 118: New Bill, New Breaks: What Families and Investors Should Know
Accounting and Accountability
In this episode: The benefits of long-term capital gains tax rates and how to qualify The impact of the 3.8% Net Investment Income Tax (often called the “Obamacare tax”) The key differences between long-term and short-term capital gains New increases to the standard deduction for 2025 A proposed tax-advantaged “Trump Account” for children under age 8, including contribution limits and withdrawal rules The House-passed bill’s broader context, including its 100+ tax provisions still awaiting Senate approval Why it's important to wait for legislation to be finalized before...
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Episode 117: One Big Beautiful Bill - What the Proposed Tax Bill Could Mean for your Wallet
Accounting and Accountability
In this podcast, listeners will hear about: The proposed return of the auto loan interest deduction, including income phaseouts and U.S. vehicle assembly requirements. Reinstatement of 100% bonus depreciation for qualifying property between 2025–2030. Increased limits for Section 179 expensing on business asset purchases. Temporary suspension of R&D amortization rules, allowing immediate expensing of research costs through 2030. Expansion of the Qualified Business Income (QBI) deduction from 20% to 23% for certain pass-through businesses. New deductions for tip income and...
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Episode 116; HSAs, 990s & P&Ls—Oh My! Tackling the Questions Every Business is Asking
Accounting and Accountability
In this episode: Explanation of how Health Savings Accounts (HSAs) work, including tax benefits, contribution limits, and how they differ from FSAs Reminder for nonprofits about the May 15 Form 990 filing deadline and the risk of losing tax-exempt status if not filed properly Tax treatment of different types of legal settlements, including which are taxable and which are not Overview of when estimated tax payments are required and how to make them online for better security and tracking Discussion of the new W-4 form complexity and strategies for ensuring proper withholding ...
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Episode 115: IRA Rollover Rules
Accounting and Accountability
Discussion on the so-called "IRS exodus" and its actual impact on audits, including the shift in enforcement strategy. Cautionary advice about taking overly aggressive tax positions due to perceived reduced IRS oversight. Importance of avoiding audit risks, especially when dealing with inexperienced agents. IRA rollover rules, including 60-day limits, trustee-to-trustee transfers, and one-rollover-per-year restrictions. Upcoming crypto reporting changes, including Form 1099-DA, and the taxability of crypto sales and payments. A look at proposed legislation to ease tax burdens on...
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Episode 114: Roth IRA Conversions Explained
Accounting and Accountability
In this episode: Roth IRA Conversions Explained – What they are, how they work, who should consider them, and the tax strategy behind converting gradually. Qualified Charitable Distributions (QCDs) – Using IRA withdrawals to make tax-free donations if you're over 70½. Depreciation & “Placed in Service” – A look at what it really means for business equipment (or even yachts) to be ready for tax purposes. Kids on Payroll? – How sole proprietors and partnerships can avoid FICA and FUTA taxes when paying their children under 21. IRS Filing Stats – Latest refund data,...
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Update on the One Big Beautiful Bill (OBBB): The firm is actively educating clients on this fast-tracked legislation, which passed with drafting errors that may require technical corrections.
-
Nonprofit Retirement Plan Credit: A new bipartisan bill proposes extending up to $5,000 in startup retirement plan tax credits to nonprofit organizations, similar to what's already available to for-profits.
-
Roth IRA Conversions & RMDs: Listeners get clarity on converting pre-tax retirement funds into Roth IRAs, including the rule that Required Minimum Distributions (RMDs) must be taken before a Roth conversion is allowed.
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Taxability of Legal Settlements: The episode breaks down when lawsuit settlements are taxable, including distinctions between physical vs. emotional damages and the implications of gross settlements (taxed before attorney fees).
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Penalty Relief Through Reasonable Cause: Entrepreneurs learn how to pursue IRS penalty abatement by showing reasonable cause, acting in good faith, and behaving like a prudent taxpayer.
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Potential End of IRS Paper Refund Checks: The podcast closes with an update on the White House’s push to eliminate paper refund checks—a change that likely won’t happen by the proposed September 30th deadline.
Room for All: How CAMP Rehoboth Builds Community That Lasts
In this episode, Kim Leisey, Executive Director of CAMP Rehoboth, joins Keith Kahn to share how the organization is evolving while staying true to its mission of inclusion, advocacy, and connection in Southern Delaware. From volunteer programs to partnerships with local businesses, Kim lays out a blueprint for meaningful nonprofit impact.
Key Takeaways:
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Rooted in Purpose: CAMP Rehoboth began as a safe space for the LGBTQ+ community and continues to welcome all who align with its mission.
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Smart Partnerships: Kim focuses on “intersections”—connecting with businesses and organizations through shared goals.
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Scaling With Heart: Even as events grow, CAMP Rehoboth prioritizes emotional safety, connection, and community-building.
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Mission-First Leadership: The team avoids “mission creep,” sticks to core values, and leans on transparent governance.
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Volunteers with Purpose: People are matched to meaningful roles that use their skills and deepen their connection.
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Businesses Wanted (Beyond the Check): Kim encourages business owners to engage—through board service, volunteering, and partnership—not just donations.