May 16, 2025
In this episode:
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Explanation of how Health Savings Accounts (HSAs) work, including tax benefits, contribution limits, and how they differ from FSAs
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Reminder for nonprofits about the May 15 Form 990 filing deadline and the risk of losing tax-exempt status if not filed properly
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Tax treatment of different types of...
May 2, 2025
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Discussion on the so-called "IRS exodus" and its actual impact on audits, including the shift in enforcement strategy.
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Cautionary advice about taking overly aggressive tax positions due to perceived reduced IRS oversight.
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Importance of avoiding audit risks, especially when dealing with inexperienced agents.
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IRA...
Apr 18, 2025
In this episode:
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Roth IRA Conversions Explained – What they are, how they work, who should consider them, and the tax strategy behind converting gradually.
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Qualified Charitable Distributions (QCDs) – Using IRA withdrawals to make tax-free donations if you're over 70½.
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Depreciation & “Placed in Service”...
Apr 4, 2025
In this episode:
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Reminder: tax extensions don’t extend the time to pay.
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Upcoming potential changes due to 2025 tax law expirations.
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Carried interest and capital gains vs. ordinary income.
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Proposed taxation of municipal bond interest.
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New early retirement withdrawal exception for emergencies (up to...
Mar 24, 2025
In this episode:
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Tax Changes Coming: New tax legislation is expected, though details remain unclear.
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Income vs. Consumption Tax: Some Republicans propose replacing income tax with a national sales tax—unlikely to gain traction.
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IRS Under Pressure: Talk of abolishing the IRS is unrealistic. Staffing cuts and...