About this episode

This episode discusses the intensifying tax season in March, highlighting deadlines, deductions, and common 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 reviewed. How accounting firms stay engaged in their communities even during the busiest time of year, including charitable initiatives and local philanthropy. A lesser-known tax rule affecting investments in physical gold and silver, and why these assets are taxed differently than many other investments. Planning strategies involving IRAs, including how charitable distributions can reduce taxable income while supporting causes you care about. What beneficiaries need to know about Required Minimum Distributions after inheriting an IRA, and the potential tax consequences of missing them. A detail many business owners overlook about tip deductions for self-employed individuals and why proper reporting matters. A recent change to the business interest deduction rules and how it may impact larger businesses starting in 2025. Important filing deadlines for businesses and partnerships during tax season, and why extensions are often part of a smart filing strategy. What really happens if taxes aren't paid on time…

People in this episode

Host: Faw Casson

Topics covered

• tax deadlines
• deductions
• costly mistakes
• charitable initiatives
• investment taxation
• business interest deduction
• filing strategies

Mentioned in this episode

Organizations: IRS

Products: IRA, physical gold, silver

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