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Accounting and Accountability

May 16, 2025

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...


May 2, 2025

  • 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...


Apr 18, 2025

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”...


Apr 4, 2025

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 to...


Mar 24, 2025

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. Staffing cuts and...