Episodes

On this episode, we dive into the new senior exemption. Unlike overtime, tips and vehicle loan interest, this deduction from the Big Beautiful Bill hasn't gotten a lot of coverage. We break it down on this episode. Then, we look at some items relating to the overtime deduction, including the definition of qualifying overtime, and the oddity around how the phaseout on the deduction works.

The new deduction for qualified tips isn't just for W-2 employees. Self-employed individuals can qualify, too. But there's a catch: The reporting requirements may make the deduction unavailable to many sole proprietors who receive tips. In this episode of Accounting in the Wild, Jason Dinesen explores the surprising intersection of the Schedule 1-A tips deduction and Form 1099-K reporting. Using practical examples involving a barber, a hairdresser and a landscaper, Jason explains: Why Form 10...

The new deduction for qualifying vehicle loan interest sounds straightforward enough — until the taxpayer is self-employed and uses the vehicle for business. In this episode of Accounting in the Wild, Jason Dinesen takes a practical look at how the new vehicle loan interest deduction works when a vehicle has both personal and business use. A key issue is whether the vehicle qualifies as a personal-use vehicle in the first place. Under the final regulations, that determination is based on the t...

Accounting in the Wild is back — with a renewed focus: by a small practitioner, for small practitioners. Artificial intelligence is rapidly finding its way into tax practices, sometimes in obvious places like ChatGPT or Claude — and sometimes embedded in software we may not even realize is using AI. The IRS recently weighed in with its initial thoughts on what tax professionals need to consider when using AI. In this episode, Jason Dinesen looks at that guidance through the eyes of the small pr...