Sign up to save your podcasts
Or
Share CPA?! I don't need no stinkin' CPA!
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
CPA?! I don't need no stinkin' CPA!
Episode 22: CPA?! I don’t need no stinking CPA!
In this episode of The Fiscal Foxhole, Rob Moore and Omen Quelvog kick things off with some real‑life resilience checks (broken laptops, freezing runs) before diving into lessons from the Super Bowl, the markets, and—most importantly—tax season.
🎯 What We Cover
Super Bowl bets & lessons learned
The guys recap their Super Bowl prop‑bet challenge, explain why the casino always wins, and use it as a real‑world reminder about probabilities, risk, and discipline.
A surprising Super Bowl commercial: “Trump Accounts”
A commercial sparks a discussion on new savings vehicles for kids, how Trump Accounts compare to 529s, Roth IRAs, and UTMA accounts, and why you should always start with the end goal in mind. Free money matters—but so do the rules.
This Date in History
February 20, 1962: John Glenn becomes the first American to orbit Earth, a reminder of preparation, courage, and long‑term thinking.
Market headlines vs. reality
A Wall Street Journal article claims the market is getting “shaky.” Rob and Omen break down why boring, diversified investing keeps working—even when hot AI stocks swing wildly—and why turning off the news may be the smartest move you make.
Main Topic: DIY Taxes Gone Wild
The heart of the episode: seven common mistakes DIY taxpayers make and the warning signs that it’s time to call in a pro, including:
- Confusing 401(k)/TSP contributions with deductible IRAs
- Taking IRA deductions you’re not eligible for
- Contributing to a Roth IRA when income limits say you can’t
- Missing Form 8606 and getting taxed twice
- Failing to track cost basis
- Owning rental property and not depreciating it
- Underestimating how complexity increases audit risk
The takeaway: saving a few hundred dollars on tax prep can cost you far more in missed benefits, penalties, stress, and time.
❓Trivia Challenge
How often does the IRS audit people making over $10 million a year? The answer may surprise you.
✅ Key Takeaways
- “Exciting” investing cuts both ways—boring diversification survives chaos.
- DIY taxes only work if you truly understand the rules.
- The IRS tracks everything eventually—basis, depreciation, and eligibility all matter.
🧾Our Articles on Trump Accounts:
- Omen: Trump Accounts: A Military Parent’s Practical Guide
- Rob: Trump Accounts and Alternatives
📩 Connect With Us
Have a question you want answered on the show? Email [email protected].
- Book a meeting with Omen
- Book a meeting with Rob
⭐ Support the Show
If you enjoy The Fiscal Foxhole, please rate the podcast on Apple Podcasts or your favorite platform. It helps more people find the show—and keeps us in the financial trenches with you.
View all episodes
By Rob Moore and Omen QuelvogEpisode 22: CPA?! I don’t need no stinking CPA!
In this episode of The Fiscal Foxhole, Rob Moore and Omen Quelvog kick things off with some real‑life resilience checks (broken laptops, freezing runs) before diving into lessons from the Super Bowl, the markets, and—most importantly—tax season.
🎯 What We Cover
Super Bowl bets & lessons learned
The guys recap their Super Bowl prop‑bet challenge, explain why the casino always wins, and use it as a real‑world reminder about probabilities, risk, and discipline.
A surprising Super Bowl commercial: “Trump Accounts”
A commercial sparks a discussion on new savings vehicles for kids, how Trump Accounts compare to 529s, Roth IRAs, and UTMA accounts, and why you should always start with the end goal in mind. Free money matters—but so do the rules.
This Date in History
February 20, 1962: John Glenn becomes the first American to orbit Earth, a reminder of preparation, courage, and long‑term thinking.
Market headlines vs. reality
A Wall Street Journal article claims the market is getting “shaky.” Rob and Omen break down why boring, diversified investing keeps working—even when hot AI stocks swing wildly—and why turning off the news may be the smartest move you make.
Main Topic: DIY Taxes Gone Wild
The heart of the episode: seven common mistakes DIY taxpayers make and the warning signs that it’s time to call in a pro, including:
- Confusing 401(k)/TSP contributions with deductible IRAs
- Taking IRA deductions you’re not eligible for
- Contributing to a Roth IRA when income limits say you can’t
- Missing Form 8606 and getting taxed twice
- Failing to track cost basis
- Owning rental property and not depreciating it
- Underestimating how complexity increases audit risk
The takeaway: saving a few hundred dollars on tax prep can cost you far more in missed benefits, penalties, stress, and time.
❓Trivia Challenge
How often does the IRS audit people making over $10 million a year? The answer may surprise you.
✅ Key Takeaways
- “Exciting” investing cuts both ways—boring diversification survives chaos.
- DIY taxes only work if you truly understand the rules.
- The IRS tracks everything eventually—basis, depreciation, and eligibility all matter.
🧾Our Articles on Trump Accounts:
- Omen: Trump Accounts: A Military Parent’s Practical Guide
- Rob: Trump Accounts and Alternatives
📩 Connect With Us
Have a question you want answered on the show? Email [email protected].
- Book a meeting with Omen
- Book a meeting with Rob
⭐ Support the Show
If you enjoy The Fiscal Foxhole, please rate the podcast on Apple Podcasts or your favorite platform. It helps more people find the show—and keeps us in the financial trenches with you.