In this episode:

• C vs. S corp: where taxes really hit

• LLCs vs. S corps: payroll and flexibility

• Double taxation decoded

• Profit splits: fair or fixed?

• When losses save you money

• Recourse vs. nonrecourse debt explained

• Why planning before filing matters

• Clean books = real tax options

• Hiring experts beats DIY mistakes

• Paying advisors as an investment

Today on the podcast, we're joined by Christopher VonLindenberg, Founder and CEO of Lindenberg Financial. Chris is a lifelong entrepreneur with a passion for helping people unlock their potential, both financially and personally. In our conversation, he shares how growing up in a blue-collar family shaped his work ethic, how he learned to redefine success beyond "just working harder," and why he believes true financial planning starts with life planning.

Episode Overview: In this episode, listeners will hear:

• How Chris turned uncertainty about his future into a career built on service and entrepreneurship.

• Why "living life while you work" matters more than saving it all for retirement.

• The difference between working in your business and working on your life vision.

• How collaboration between CPAs, financial planners, and attorneys creates better outcomes for clients.

• Why tax and financial planning shouldn't happen in silos—and how proactive teamwork can change your financial trajectory.

• The art and science of planning: blending data with human goals to build lasting confidence.

By the end, you'll walk away with a renewed perspective on money, purpose, and how building the right advisory team can help you live life, not just plan for it.

In this episode:

• What the IRS's latest move on paper checks means for your refund timing.

• The "tip deduction" that could put more money back in the pockets of both employees and self-employed workers.

• New per diem rates that might change how your company reimburses travel.

• A helpful update for farmers dealing with drought-related losses.

• What crypto investors should watch for in their mailbox this coming tax season.

• Inside scoop on IRS staffing challenges, and how that could delay refunds and responses.

• The ripple effect of new legislation on tax software, filing timelines, and your 2026 tax prep.

This week on Accounting and Accountability, Tammy and Hilari sit down with Amy Thompson, President and CEO of the Greater Ocean City Chamber of Commerce, to pull back the curtain on what it really takes to keep a beach town's business community thriving year-round.

Amy shares how Ocean City's economy is evolving beyond tourism, why festivals like Oceans Calling and Country Calling are a massive win for local businesses, and what legislative issues are making waves, from short-term rental regulations to the offshore wind debate.

Listeners will hear how the Chamber advocates for small business owners at every level of government, why membership is more than just mixers and ribbon cuttings, and where the next wave of entrepreneurial opportunity may be hiding in Ocean City.

In this episode:

• Navigating government shutdowns and IRS updates for business owners
• The impact of state vs. federal marijuana laws on business deductions
• Understanding the QBI deduction and how it affects entrepreneurs
• Beneficial ownership reporting: what changed and why it matters
• Key tax deadlines and what to do after tax season
• Foreign bank account reporting requirements (FBAR)
• State-specific tax law changes (Maryland vs. Delaware)
• Deep dive into the Research & Development (R&D) tax credit:
  • Who qualifies and the four-part test
  • Real-world examples for startups, manufacturers, and tech companies
  • Payroll tax offsets for early-stage businesses
  • Documentation tips and audit triggers
  • Common misconceptions and maximizing your credits

In this episode:

• Why the IRS is phasing out paper checks and what that means for paying or receiving tax refunds going forward

• How misleading labels on draft IRS forms could confuse clients (hint: "No Tax on Tips" doesn't actually mean that)

• A major 401(k) rule change for high earners that could impact catch-up contributions starting in 2027

• Year-end tax planning tips for business owners, including strategies you must act on before December 31

• Smart ways to manage estimates, avoid penalties, and use paycheck withholdings to your advantage

If you want fewer surprises come April and smarter decisions in Q4, don't miss this one.

In this episode:

• Clarification of the Tip Deduction: What it actually is, how it's not "No Tax on Tips," and which industries (yes, even rickshaw drivers and tattoo artists) are poised to benefit.

• Leaked Treasury Industry List: Hear the early scoop on 68 job types rumored to qualify for the tip deduction—and why it's causing a stir.

• W-2 Changes Are Coming: Insight into new boxes (like 14B and 12A), new codes (TP, TT), and what employers will have to start tracking—possibly before the IRS even has their act together.

• Overtime Deduction Explained: A down-to-earth breakdown of who qualifies, how it's calculated (hint: it's just the "half" in time-and-a-half), and what the income limits are.

• Why Notices from the IRS or State Might Be Wrong: A frank discussion on the rise of erroneous tax notices, automation glitches, and how tax pros are battling red tape and broken phone trees on your behalf.

• Update on the One Big Beautiful Bill (OBBB): The firm is actively educating clients on this fast-tracked legislation, which passed with drafting errors that may require technical corrections.

• Nonprofit Retirement Plan Credit: A new bipartisan bill proposes extending up to $5,000 in startup retirement plan tax credits to nonprofit organizations, similar to what's already available to for-profits.

• Roth IRA Conversions & RMDs: Listeners get clarity on converting pre-tax retirement funds into Roth IRAs, including the rule that Required Minimum Distributions (RMDs) must be taken before a Roth conversion is allowed.

• Taxability of Legal Settlements: The episode breaks down when lawsuit settlements are taxable, including distinctions between physical vs. emotional damages and the implications of gross settlements (taxed before attorney fees).

• Penalty Relief Through Reasonable Cause: Entrepreneurs learn how to pursue IRS penalty abatement by showing reasonable cause, acting in good faith, and behaving like a prudent taxpayer.

• Potential End of IRS Paper Refund Checks: The podcast closes with an update on the White House's push to eliminate paper refund checks—a change that likely won't happen by the proposed September 30th deadline.

Room for All: How CAMP Rehoboth Builds Community That Lasts

In this episode, Kim Leisey, Executive Director of CAMP Rehoboth, joins Keith Kahn to share how the organization is evolving while staying true to its mission of inclusion, advocacy, and connection in Southern Delaware. From volunteer programs to partnerships with local businesses, Kim lays out a blueprint for meaningful nonprofit impact.

• Rooted in Purpose: CAMP Rehoboth began as a safe space for the LGBTQ+ community and continues to welcome all who align with its mission.

• Smart Partnerships: Kim focuses on "intersections"—connecting with businesses and organizations through shared goals.

• Scaling With Heart: Even as events grow, CAMP Rehoboth prioritizes emotional safety, connection, and community-building.

• Mission-First Leadership: The team avoids "mission creep," sticks to core values, and leans on transparent governance.

• Volunteers with Purpose: People are matched to meaningful roles that use their skills and deepen their connection.

• Businesses Wanted (Beyond the Check): Kim encourages business owners to engage—through board service, volunteering, and partnership—not just donations.

• IRS Delays & Staffing Cuts The IRS is facing a 25% workforce reduction, which may delay the start of the 2026 filing season and limit live support. Hear how this could impact your business and what to expect.

• Disaster Relief Gets Easier New rules make it simpler to deduct uninsured personal losses from state-declared disasters. If you or a loved one faced property damage before July 4, 2025, there may be relief available—but there are key conditions.

• Temporary Tax Breaks You Might Miss The podcast breaks down two new deductions—the $6,000 senior deduction and the $10,000 auto loan interest deduction—for those who qualify. Both are generous, both are temporary, and both come with income limits that could catch you off guard.

• No, Your Home Sale Still Isn't Tax-Free Despite political promises, the longstanding home sale gain exclusion rules haven't changed. But we explain why this still matters for your long-term planning.

• Segregation of Duties—Why It's Not Just a Buzzword If your bookkeeper also cuts checks and reconciles the bank account, you're at risk. We share real-life scenarios that show how even the most trusted employees can slip—and what to do to protect your business.

• Small Businesses Are Prime Targets for Fraud Fraud in small businesses often flies under the radar, but it hurts more. Learn how to spot red flags like "lifestyle creep" and resistance to oversight before they snowball into major losses.

• Practical Steps to Protect Your Organization From using accounting software the right way to setting up passwords, vendor controls, surprise checks, and insurance coverage—these are simple, actionable ways to create a fraud-resistant culture.

• The Power of Knowing Your Numbers If you can't explain your financials, you're handing over control. We'll show you how to get a grip on your books—without having to become an accountant.

In this episode:

• Faw Casson will close early on August 8 for their annual all-office beach day—a fun family tradition showing the firm's strong culture and appreciation for its people.

• The One Big Beautiful Bill Act (OBBBA) includes impactful updates for businesses and individuals—this episode dives into the lesser-known but highly relevant changes.

• C Corporation charitable donations are now subject to a 1% floor—but strategic business advertising can provide a workaround.

• Bonus depreciation is back at 100%, but with quirky timing: Section 179 may still be a smarter choice for some assets, depending on your purchase date.

• Business interest expense limitations now revert to using EBITDA instead of EBIT, a favorable shift for many larger companies.

• The adoption credit becomes refundable (up to $5,000), but only starting with the 2025 tax year.

• Opportunity zone reinvestment rules are extended and sweetened: You can now defer capital gains for five years and eliminate tax on appreciation if held for 10.

• The employer-provided child care credit jumps to 40%, with the cap increasing to $500,000—a major incentive for businesses with space to spare.

• Farmers selling farmland to other farmers can now spread capital gains tax over four years.

• 529 plans can now be used for more types of education expenses—distribution limit rises from $10,000 to $20,000 starting mid-2025.

• Several energy credits and deductions are expiring after 2025, including:

  • Clean vehicle credit (for EVs acquired after 9/30/25)

  • Residential solar and geothermal energy credits

  • Home energy improvement deductions (like windows, doors, and water heaters)

• Wagering loss deductions will be limited to 90% of gambling income starting in 2026—another subtle but impactful change.

• The firm is offering free educational sessions in August to help business owners prepare for these tax law changes—one in Lewes (Aug 6) and one in Dover (Aug 12), with virtual access available.

We're setting sail with two powerhouse guests from the Delaware Division of Small Business—Anastasia Jackson, Kent County Regional Business Manager, and JJ Moore, the Division's newly minted Business Finance Director. Whether you're scribbling your next big idea on a napkin or running a growing company, this episode delivers the kind of insight that turns entrepreneurial dreams into action plans.

What Entrepreneurs Will Learn:

• Where to Begin Your Journey: Discover why the Division's motto, "It Starts With Us," is more than a slogan—it's a literal roadmap for Delaware's entrepreneurs, from idea-stage to expansion.

• The Edge Grant 2.0: Learn how this newly enhanced funding program now offers more money, more finalists, and—crucially—free expert support to help you scale wisely, not just quickly.

• Access to Capital, Reimagined: JJ breaks down Delaware's three underutilized lending programs that provide flexible, low-interest loans—even for startups with little collateral or limited credit history.

• Unmatched Resources (at Zero Cost): From SizeUp Delaware (a free business analytics tool) to statewide partners like the SBDC, SCORE, and Main Street programs, you'll hear how the Division connects entrepreneurs to powerful support systems.

• Funding + Knowledge = Success: This episode emphasizes that capital alone doesn't grow a business—strategic guidance, data, and mentorship matter just as much.

• Collaboration Across Agencies: The Division's connections with tourism, public health, economic development, and supplier diversity efforts give entrepreneurs a true one-stop-shop for support.

• The Misconceptions: Find out why people often confuse this office with the SBA—and why understanding the difference could open unexpected doors.

Whether you're trying to get your idea off the ground or figure out how to fund your next big move, this episode is packed with practical, real-world advice. Find out more from the Delaware Division of Small Business.

In this episode:

• Announcement of two new partners at the firm, Andy Tobias and Dan Steele, and their leadership roles.

• Discussion of the renamed "One Big Beautiful Bill" (now simply "the Act") and its key tax provisions.

• Confirmation that individual tax brackets and standard deduction increases are now permanent.

• Explanation of the new $15 million estate and gift tax exemption for 2026.

• Details on the repeal of moving expense and miscellaneous itemized deductions (except for military and intelligence).

• Expansion of the SALT deduction cap to $40,000 through 2029 with income-based phaseouts.

• Child tax credit increased to $2,200 with refundable portion made permanent.

• New above-the-line deductions for:

  • Overtime pay ($12,500 single / $25,000 joint, 2025–2028)

  • Tipped income (industry list pending, capped and phased out by income)

  • Seniors over 65 ($6,000 deduction, 2025–2028)

  • Car loan interest for American-assembled vehicles (post-2024 purchases only, capped at $10,000)

  • Charitable contributions (up to $1,000 single / $2,000 joint for non-itemizers)

• The 20% Qualified Business Income Deduction (QBI or "CID") is made permanent and inflation-adjusted.

• Bonus depreciation is restored to 100% for qualifying business assets purchased after January 19, 2025.

• R&D expense deductions reinstated (no longer amortized).

• Business interest deductions revert to being based on EBITDA instead of EBIT.

• Changes to 1099 reporting: threshold for 1099-NEC/MISC rises to $2,000 starting in 2026.

• 1099-K reporting threshold set at $20,000 or 200 transactions (postponing more burdensome lower thresholds).

• Final reminder that many provisions are subject to budget reconciliation constraints, meaning some are temporary or have sunset dates.

Interview Overview: Michael Kopp, Executive Director of the Elizabeth W. Murphey School

In this inspiring interview, Michael Kopp shares how the Murphey School provides more than just shelter, it offers structure, support, and stability to Delaware youth in need. With a focus on life skills, financial literacy, and emotional growth, the school helps prepare kids for adulthood. Mike also emphasizes the deep-rooted commitment of the staff and the powerful impact of community involvement.

Want to Help? You can donate or get involved by visiting: murpheyschool.org/donations/make-a-donationv

In this episode:

• A breakdown of key differences between the House and Senate tax proposals, including bonus depreciation and the SALT deduction cap.

• Why self-employed individuals should pay attention to long-term care premium deductions and upcoming retirement withdrawal exceptions.

• A crash course on accounting method changes and how the IRS isn't a fan of casual flip-flopping.

• How to properly document and deduct a non-repaid loan gone bad (even if it's to your sketchy cousin).

• What to do if you or your client forgets their RMD, and how to potentially avoid a 25% penalty.

• Real talk on budgeting: why most budgets get shelved and how to build one that actually helps you make decisions year-round.

• Tips for turning budgets into strategy tools like using budget-to-actual comparisons to pivot fast when the market shifts.

• How to forecast for revenue dips, capital improvements, or surprise curveballs (looking at you, HVAC unit from 1995).

• A listener-submitted question prompts a deep dive into using budgeting for strategic planning, accountability, and flexibility—not just math homework.

This episode proves that a good budget isn't about predicting the future, it's about preparing to meet it with a plan in hand and your receipts in order.