Aug 7, 2026
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 farmland...
Jul 24, 2026
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 exemption.
- Gambling...
Jul 10, 2026
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 Retention Credit) claim...
Jun 29, 2026
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 reporting (2027) —...
Jun 12, 2026
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 investors
•...