Welcome back to the Teaching Tax Flow podcast, episode 171! This episode guides you through selecting a tax professional and covers the importance of a CPA and an enrolled agent. We'll explore essential "interview" questions and answers to help you choose the right accountant or tax pro for your tax preparation and planning needs. Get ready to make informed decisions for your tax career.

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• (00:00) - Introduction to Episode 171
• (00:34) - Importance of Tax Professionals
• (01:10) - Insights on the CPA Profession
• (02:22) - Choosing the Right Tax Professional
• (05:05) - Trust in Tax Professional Relationships
• (09:21) - Accreditation of Tax Professionals
• (11:59) - Understanding the X Factor
• (13:39) - Importance of Due Diligence and Price
• (15:34) - Closing Remarks

In this episode of the Teaching Tax Flow podcast, hosts Chris Picciurro and John Tripolsky dive deep into the transformative tax changes set to take effect in 2026. As a follow-up to their previous discussions, they address crucial tax modifications outlined in the "One Big Beautiful Bill Act," including deductions on tips, overtime, and notable alterations to the standard deduction, all while providing strategies for optimization.

The episode unfolds with a detailed exploration of the major tax adjustments for taxpayers beginning in the 2025 tax year, which will significantly impact 2026 tax filings. Key highlights include the introduction of new deductions, such as "No Tax on Tips" and "No Tax on Overtime," tailored to benefit a variety of income groups, while also shedding light on enhancements to the child tax credit and the preservation of the QBI deduction to bolster small business growth. The duo pepper the discourse with insights into extending bonus depreciation at 100%, making it a significant boon for eligible asset acquisitions, particularly in the real estate sector. Taxpayers are encouraged to consult trusted advisors and partake in the show's community to fully leverage these benefits.

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CHAPTERS
0:00 Exploring Tax Changes and Planning for 2026
2:34 Major Tax Changes and Deductions for 2025 and Beyond
6:46 High Taxes and Weather Jokes Between Michigan and Tennessee
7:14 Tax Deductions and Benefits for Seniors and Business Owners
10:25 Tax Benefits and Strategies for Real Estate Investors
12:57 Tax Planning Strategies and Changes for 2026
17:53 Investment Advisory and Securities Offerings Explained

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EPISODE SPONSOR
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👉 https://www.wealthbuildersmortgagegroup.com

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🎧 Listen on your favorite podcast platform:
👉 Spotify https://bit.ly/3KdmtJL
👉 Apple Podcasts https://apple.co/3ZkyEtX
👉 Amazon https://amzn.to/4qmdqa5
👉 iHeart https://bit.ly/iheart-TTF

• (00:00) - Exploring Tax Changes and Planning for 2026
• (02:34) - Major Tax Changes and Deductions for 2025 and Beyond
• (06:46) - High Taxes and Weather Jokes Between Michigan and Tennessee
• (07:14) - Tax Deductions and Benefits for Seniors and Business Owners
• (10:25) - Tax Benefits and Strategies for Real Estate Investors
• (12:57) - Tax Planning Strategies and Changes for 2026
• (17:53) - Investment Advisory and Securities Offerings Explained

In this episode, co-hosts John Tripolsky and Chris Picciurro dive into the intricate world of 2026 tax changes to charitable contributions. Kicking off the new year, the guys provide a detailed analysis of what taxpayers can expect with the introduction of the One Big Beautiful Bill Act (OB3), the most significant overhaul of the tax code in about a decade. Chris and John shed light on the various changes that taxpayers, both those who itemize and those who don't, need to prepare for. The duo emphasizes the importance of tax planning and strategic timing to maximize deductions amid these new regulations.

As the discussion unfolds, listeners get an in-depth understanding of the new above-the-line deductions for non-itemizers, the impact of AGI floors on charitable contributions for itemizers, and how high-income earners are affected by the new 35% cap on tax benefits. Chris offers practical examples to elucidate these changes, while John underscores the importance of awareness and planning to avoid unpleasant surprises when filing taxes. In addition, they explore how percentage limitations and carry-forward changes can affect deductions, especially for those donating appreciated property. This episode is a valuable resource for anyone seeking to understand and navigate the tax landscape in 2026.

Key Takeaways:

• The One Big Beautiful Bill Act introduces substantial changes to charitable contributions starting in 2026.
• Non-itemizers can now benefit from above-the-line deductions up to $1,000 for singles and $2,000 for married couples filing jointly.
• Itemizers will encounter a new floor, set at half a percent of AGI, impacting the amount deductible from charitable giving.
• High-income taxpayers face a 35% cap on the tax benefit from their charitable donations.

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• (00:00) - 2026 Charitable Contribution Changes and Tax Planning Insights
• (04:46) - Tax Deductions for Charitable Contributions in 2026
• (10:40) - Maximizing Charitable Deductions for High-Income Taxpayers
• (16:06) - Effective Communication in Tax Advisory and Teaching
• (17:18) - Understanding Charitable Donation Deductions and Tax Implications
• (20:37) - Teaching Tax Flow's Upcoming Events and Community Engagement