PODCAST · news
Accounting and Accountability
by Faw Casson
A podcast focusing on the top things business taxpayers need to know. Updated information that is easy to digest and will keep you on the cutting edge of business finance news.
Episodes
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Episode 152: The Saver's Credit Is Ending: What's Replacing It in 2027?
October 15 Tax Extension Deadline: What taxpayers should understand about the final individual income tax filing deadline and the important difference between an extension to file and an extension to pay. Saver's Credit vs. Saver's Match: What's Changing in 2027? The current retirement tax credit...
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Episode 151: IRS Targets Limited Partners: The Self-Employment Tax Crackdown
Self-employment tax & limited partners — The IRS is challenging the self-employment tax exemption for LLC limited partners, especially those in management roles, with courts siding with the IRS October 15th tax deadlines — Extended deadlines for personal 1040 returns, C corporation returns, SEP…
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Episode 150: Maryland Businesses Receiving Erroneous Notices
In this episode: *]:pointer-events-auto R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]" dir="auto" data-turn-id=...
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Episode 149: Rolling Into Roth: Your IRA Rollover Playbook
In this episode: IRA Rollovers — Rolling over traditional 401(k)s and IRAs, converting traditional IRAs to Roth IRAs, required minimum distributions, and estate planning considerations. Natural Disaster Tax Relief — New federal legislation easing casualty loss write-offs for qualified disaster...
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Episode 148: $105 Billion in Improper Tax Credits: Who's Watching the IRS?
In this episode: IRS Oversight of Unenrolled Tax Preparers Overtime Pay Tax Deduction Update Congressional Tax Proposals to Watch Tax Court Case: Customer-Funded Improvements IRS.gov Business Tax Account Expansion Attorney's Fees and Settlement Tax Traps New Cryptocurrency Scam Warning Improper...
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Episode 147: The 10-Year Tax Play: Deferring Capital Gains the Right Way
In this episode: Inflation-indexed IRS deductions, credits, and thresholds for 2026. Non-indexed thresholds that haven't changed in decades (e.g., home sale gain exclusion). New above-the-line charitable deduction for non-itemizers. Rules for deducting donated vehicles. Conservation easements and...
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Episode 146: Hobby Losses, Gambling Wins, and the IRS's Fine Print
In this episode: Hobby loss rules – refresher on when the IRS may reclassify a business as a hobby. Trump accounts – contributing up to $5,000 for a minor without triggering a gift tax filing. Gift tax basics – $19,000 annual exclusion, filing requirements above that, and the $15M lifetime...
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Episode 145: Marketplace Money Trouble: The Subsidy Surprise Coming Your Way
In this episode: Premium tax credit changes affecting Marketplace health coverage enrollees. Long-term care insurance premium deductions and new retirement plan withdrawal rules. A proposed Newborn Tax Credit and updates to ABLE accounts. IRS partnership audit trends and lingering ERC (Employee...
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Episode 144: New Tax Credits, Crypto, and IRS Chaos
In this episode: Federal Scholarship Tax Credit (2027) — Up to $1,700 non-refundable credit for K–12 scholarship donations; no income limits; requires state opt-in Cryptocurrency staking rewards — Tokens taxable as income upon receipt; deferral legislation proposed but not yet law 1099-DA…
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Episode 143: QSBS, SALT, HSAs & More: Mid-Year Tax Moves for Taxpayers
In this episode: IRS call strategies – A tip for getting through when the IRS won't accept calls • Tax identity theft – How fraudsters file returns using stolen Social Security numbers • Qualified Small Business Stock (QSBS) – A little-known tax exclusion that could eliminate gains for eligible...
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Episode 142: IRS Notices, Hidden Tax Credits, and the Tax Traps Costing People Money
In this episode: A recent court case that could allow some taxpayers to recover certain IRS penalties and interest assessed during the COVID-era, and what steps may be available to protect refund claims. The growing problem of erroneous IRS and state tax notices, including what taxpayers should…
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Episode 141: From Kids' First Jobs to High Earners: Your Mid-Year Tax Playbook
In this episode: 2026 Tax Legislation Outlook — No major tax changes expected this year; budget reconciliation and new proposals remain largely on hold. Retirement Savings Updates — Expanded 401(k) investment options (real estate, private equity), new IRA access for those without workplace plans,...
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Episode 140: Fewer Audits, More Red Flags: What's Really Changing at the IRS
In this episode: What IRS funding cuts actually mean in the real world, fewer audits, but slower responses and more frustration when you do need answers Why "audit rates are down" doesn't mean you're off the hook, and how AI-driven red flags are quietly replacing old-school enforcement The…
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Episode 139: Avoid IRS Penalties!
In this episode: Why most taxpayers don't itemize anymore, and when it still actually makes sense to do so The hidden fine print on mortgage interest deductions, including caps that quietly limit what high-balance homeowners can write off How home equity loans can either save you on taxes, or…
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Episode 138: Tax Traps and Smart Moves: What Taxpayers Should Fix Before It Costs Them
In this episode: A practical look at proposed IRS reform and why better customer service, clearer appeals rights, and stronger taxpayer advocacy matter to everyday taxpayers and business owners. A timely reminder about April tax deadlines, including the difference between an extension to file and...
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Episode 137: The Tax Breaks You're Probably Missing, and the Tech That's Changing Everything
In this episode: A little-known tax opportunity involving long-term care costs that can significantly reduce taxable income if handled correctly Why medical expense deductions aren't as straightforward as people think, and how thresholds and documentation come into play The real story behind...
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Episode 136: March Madness for Taxes: Deadlines, Deductions, and Costly Mistakes to Avoid
In this episode: Why tax season gets significantly more intense in March, and why accountants push for earlier deadlines to ensure returns are accurate and thoroughly reviewed. How accounting firms stay engaged in their communities even during the busiest time of year, including charitable...
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Episode 135: Before You File: The Tax Law Changes High Earners Can't Afford to Miss
In this episode: What the expanded SALT deduction really means, and how income limits and payment timing can impact your 2025–2029 strategy. New charitable contribution limits in 2026 and smart planning moves high earners should consider now. How itemized deductions and education credits are...
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Episode 134: Senior Tax Breaks, Farm Gains, and the IRS Shake‑Up
In this episode: Detailed insight into the new $6,000 Senior Deduction for taxpayers age 65+, including income phaseouts and confusion around Social Security taxability. A look at the proposed depreciation of primary residences, a radical idea never seriously floated in prior administrations....
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Episode 133: IRS Shutdowns, E‑Filing Mandates, and Refund Changes
In this episode: IRS electronic filing systems are closed until January 26, delaying returns and refunds. Some state tax forms won't be ready for filing until late February. IRS staffing shortages are causing longer response times across the board. Paper filing and paper checks are being phased…
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Episode 132: Catch-Ups, Cutoffs & Contribution Caps: 2026 Retirement & Tax Gamechangers
In this episode: Why "goals" beat New Year's resolutions (and how business owners can take that mindset into tax season). A rundown of 2026 tax law changes that matter most for business owners—especially those involving deductions, 1099s, and retirement contributions. Proactive security and...
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Episode 131: Don't Leave Money on the Table: New Deductions, Donor Hacks & The Truth About Trump Accounts
In this episode: What Trump Accounts are, who qualifies, and why parents of young kids should pay attention in 2026. How the "no tax on tips/overtime" headlines are misleading and what employers need to prepare for now. Why hobby losses are red flags for the IRS, especially for side gigs that…
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Episode 130: Tax Planning Before the Clock Runs Out: Strategies, Credits, and Compliance
In this episode, we explore some of the most important tax updates and strategies that business owners should have on their radar. Topics include: A game-changing update that makes a popular capital gains deferral tool available for the long term A new IRS process that could save compliant...
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Podcast 129: $500K Tax-Free Gains, SALT Cap Surprises & Strategy That Sticks
In this episode: Why outdated beliefs about avoiding taxes on home sales can be costly, and the real rules you need to follow today. A surprising stat on how much of the country's income taxes are paid by just the top 1%. Key updates to Social Security thresholds, earnings limits, and the wage…
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Episode 128: Entity structure: LLC or S Corp: Picking the Right Shield for Your Business
In this episode: C vs. S corp: where taxes really hit LLCs vs. S corps: payroll and flexibility Double taxation decoded Profit splits: fair or fixed? When losses save you money Recourse vs. nonrecourse debt explained Why planning before filing matters Clean books = real tax options Hiring experts...
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Podcast 127: Deadlines, Deductions, and Delays: What's Brewing in Tax Season 2026
In this episode: What the IRS's latest move on paper checks means for your refund timing. The "tip deduction" that could put more money back in the pockets of both employees and self-employed workers. New per diem rates that might change how your company reimburses travel. A helpful update for...
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Episode 126: Innovate & Elevate: A Deep-Dive into R&D Credits
In this episode: Navigating government shutdowns and IRS updates for business owners The impact of state vs. federal marijuana laws on business deductions Understanding the QBI deduction and how it affects entrepreneurs Beneficial ownership reporting: what changed and why it matters Key tax...
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Episode 125: No More Checks: What the IRS Just Changed
In this episode: • Why the IRS is phasing out paper checks and what that means for paying or receiving tax refunds going forward • How misleading labels on draft IRS forms could confuse clients (hint: "No Tax on Tips" doesn't actually mean that) • A major 401(k) rule change for high earners that...
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Episode 124: There ARE taxes on tips
In this episode: Clarification of the Tip Deduction: What it actually is, how it's not "No Tax on Tips," and which industries (yes, even rickshaw drivers and tattoo artists) are poised to benefit. Leaked Treasury Industry List: Hear the early scoop on 68 job types rumored to qualify for the tip...
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Episode 123: Big Bill Energy: Tax Tips, Roth Moves, and What the IRS Isn't Telling You
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...
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Episode 122: Segregation of Duties: Your First Line of Defense Against Fraud
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…
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Episode 121: Clean Energy Out, Bonus Depreciation In: Navigating the New Tax Terrain
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...
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Episode 120: The Tax Update Episode: Deductions, Deadlines, and Dollars
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…
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Episode 119: Budgets, Breakdowns & Bad Debt: How to Sweat Less and Strategize More
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…
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Episode 118: New Bill, New Breaks: What Families and Investors Should Know
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...
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Episode 117: One Big Beautiful Bill - What the Proposed Tax Bill Could Mean for your Wallet
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...
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Episode 116; HSAs, 990s & P&Ls—Oh My! Tackling the Questions Every Business is Asking
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...
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Episode 115: IRA Rollover Rules
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...
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Episode 114: Roth IRA Conversions Explained
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...
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Episode 113: Carried interest and capital gains vs. ordinary income
In this episode: Reminder: tax extensions don't extend the time to pay. Upcoming potential changes due to 2025 tax law expirations. Carried interest and capital gains vs. ordinary income. Proposed taxation of municipal bond interest. New early retirement withdrawal exception for emergencies (up…
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Episode 112: Contractor vs. Employee Crackdown
In this episode: Tax Changes Coming: New tax legislation is expected, though details remain unclear. Income vs. Consumption Tax: Some Republicans propose replacing income tax with a national sales tax—unlikely to gain traction. IRS Under Pressure: Talk of abolishing the IRS is unrealistic.…
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Episode 111: The Impact of Qualified Business Income Deductions Expiring.
In this episode: The potential impact of Qualified Business Income Deductions (QBI) expiring at the end of 2025. Bonus Depreciation may be restored up to 100%. More details emerge, clarifying the State of Delaware Paid Leave Program. In ins and outs of writing off vehicles for business use. The...
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Episode 110: IRS cracks down on Fuel Tax fraud.
In this episode: An update on the tax cap for State and Local Taxes. Tax rules for gain or loss on a qualifying residence. The IRS is cracking down on fuel tax credit fraud. If you're a self-employed business owner looking to buy a home, you've probably heard that getting a mortgage is more...
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Episode 109: An Explanation of the Proposed External Revenue Service.
In this episode: · An overview of tax policies under discussion. · Corporate Transparency Act update. · An explanation of the proposed external revenue service. · A reminder to get your tax documents into us! We also hear from Brittany La Clair, owner of the Golden Poppy in Dover, Delaware. She...
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Episode 108: Maximize Tax Savings
In this episode: Form 944 will no longer be used after 2025. Additional Foreign Tax Credit benefits. Delaware and Maryland Paid Family Leave taxability information. A deep dive into steps that can be taken to maximize tax savings now and into 2025.
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Episode 107: Business Lending Best Practices
In this episode: Deducting uninsured losses for damage claims in federally declared disaster areas. Inherited IRA changes. New rates for 2025 including IRA distribution, fit taxes, and mileage Beneficial Ownership Reporting for FinCEN status may not be determined until March 2025. Anita Evans…
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Episode 106: Beneficial Ownership Reporting Update
In this episode: Update to the FinCEN Beneficial Ownership Reporting deadline. Catch-up contributions are available for retirement plans for limited age groups. Some Employee Retention Credits are still not processed. New lines will be on individual tax returns for cryptocurrency and 1099K...
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Episode 105: Tax Planning Special
In this episode: Best practices for Installment Sales. The current gift tax limits. IRA owners that are over 70.5 years old can transfer money directly to a charity for enhanced tax and estate planning. In addition, listen in to our tax planning segment for strategic planning tips going into 2025...
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Episode 104: An overview of President Elect Trump's proposals
In this episode: An overview of President Elect Trump's proposals and what impact they may have including the taxing of Social Security benefits, overtime and tipping and the SaLT limitation. We are joined by Ryan and Andrea Maloney, owner/operators of Clean Eatz in Dover, DE. They discuss…
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Episode 103: Inflation Numbers Reported
In this episode: Tax Cuts and Jobs Act expires after 2025. New inflation adjusted numbers reported. Section 179 update. Gift limit is $19,000 for 2025. IRS begins enforcement of gambling earnings reported on Form W2G. Limitations and income tax issues when working overseas. Tabitha Myers of…
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ABOUT THIS SHOW
A podcast focusing on the top things business taxpayers need to know. Updated information that is easy to digest and will keep you on the cutting edge of business finance news.
HOSTED BY
Faw Casson
CATEGORIES
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How many episodes does Accounting and Accountability have?
Accounting and Accountability currently has 100 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is Accounting and Accountability about?
A podcast focusing on the top things business taxpayers need to know. Updated information that is easy to digest and will keep you on the cutting edge of business finance news.
How often does Accounting and Accountability release new episodes?
Accounting and Accountability has 100 episodes. Check the episode list to see recent publication dates and frequency.
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You can listen to Accounting and Accountability on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts Accounting and Accountability?
Accounting and Accountability is created and hosted by Faw Casson.
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