Episode 131: Don't Leave Money on the Table: New Deductions, Donor Hacks & The Truth About Trump Accounts
About this episode
This episode discusses new tax deductions, the implications of Trump Accounts, and various strategies for charitable giving and tax preparation.
In this episode: What Trump Accounts are, who qualifies, and why parents of young kids should pay attention in 2026. How the "no tax on tips/overtime" headlines are misleading and what employers need to prepare for now. Why hobby losses are red flags for the IRS, especially for side gigs that never turn a profit. A timely breakdown of gift tax rules, including how to move money to family members tax-free and when you do have to file something. Creative ways to give to charity, including donor-advised funds and how businesses can deduct donations as advertising.
People in this episode
Host: Faw Casson
Topics covered
- tax deductions
- Trump Accounts
- gift tax rules
- charitable donations
- IRS regulations
Mentioned in this episode
Organizations: IRS, donor-advised funds
More episodes of Accounting and Accountability
- Episode 140: Fewer Audits, More Red Flags: What's Really Changing at the IRS
- Episode 139: Avoid IRS Penalties!
- Episode 138: Tax Traps and Smart Moves: What Taxpayers Should Fix Before It Costs Them
- Episode 137: The Tax Breaks You're Probably Missing, and the Tech That's Changing Everything
- Episode 136: March Madness for Taxes: Deadlines, Deductions, and Costly Mistakes to Avoid
- Episode 135: Before You File: The Tax Law Changes High Earners Can't Afford to Miss
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