About this episode

This episode discusses mid-year tax strategies including updates on tax legislation, retirement savings, and tips for families.

In this episode: 2026 Tax Legislation Outlook — No major tax changes expected this year; budget reconciliation and new proposals remain largely on hold. Retirement Savings Updates — Expanded 401(k) investment options (real estate, private equity), new IRA access for those without workplace plans, and spousal IRA contribution rules. Roth IRA Benefits — Tax-free growth advantages and AGI threshold increases for contributions. Summer Tax Tips for Families — Tax withholding rules for dependent children working summer jobs, and how to hire your child if you're self-employed to reduce payroll taxes. Child and Dependent Care Credit — Enhanced credit limits for 2026, including eligibility for summer camps. Kids' Roth IRAs — Opening retirement accounts for children with earned summer income. Employee Fringe Benefits — IRS guidance on taxable vs. non-taxable benefits, including employer-paid tuition assistance (up to $5,250 annually, indexed for inflation starting 2027). Marijuana Tax Developments — Medical marijuana reclassified to Schedule III, removing the 280E deduction limitation for medical operators. Nonprofit Filing Deadline — May 15th deadline for calendar-year exempt…

More episodes of Accounting and Accountability

• Episode 143: QSBS, SALT, HSAs & More: Mid-Year Tax Moves for Taxpayers · June 12, 2026 · 15 min
• Episode 142: IRS Notices, Hidden Tax Credits, and the Tax Traps Costing People Money · May 29, 2026 · 18 min

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