Jun 27, 2025
In this episode:
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A breakdown of key differences between the House and Senate tax proposals, including bonus depreciation and the SALT deduction cap.
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Why self-employed individuals should pay attention to long-term care premium deductions and upcoming retirement withdrawal exceptions.
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A crash course on accounting method changes and how the IRS isn’t a fan of casual flip-flopping.
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How to properly document and deduct a non-repaid loan gone bad (even if it’s to your sketchy cousin).
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What to do if you or your client forgets their RMD, and how to potentially avoid a 25% penalty.
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Real talk on budgeting: why most budgets get shelved and how to build one that actually helps you make decisions year-round.
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Tips for turning budgets into strategy tools like using budget-to-actual comparisons to pivot fast when the market shifts.
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How to forecast for revenue dips, capital improvements, or surprise curveballs (looking at you, HVAC unit from 1995).
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A listener-submitted question prompts a deep dive into using budgeting for strategic planning, accountability, and flexibility—not just math homework.
This episode proves that a good budget isn’t about predicting the future, it’s about preparing to meet it with a plan in hand and your receipts in order.