Accounting and Accountability

Episode 153: 2026 Tax Law Changes You Can't Ignore: 529 Plans, QCDs, Adoption Credits & IRS Compliance

2026 tax changes are here and some could cost you thousands if you're not prepared. Tammy sits down with Markland, CPA, Supervisor at Faw Casson, to break down the bigges

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 exten

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 cou

Episode 150: Maryland Businesses Receiving Erroneous Notices

In this episode:  Rehoboth Office News — Our upcoming open house and new location. Federal Estate Tax — Who may still be affected and where planning can help. Offers in

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 plannin

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 Impro

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 exclus

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 trigg

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 withdra

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 Cryp

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 Socia

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

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 Sav

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 rate

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, includ

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 taxp

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 d

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 r

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 contributi

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 taxabilit