Accounting and Accountability

Episode 137: The Tax Breaks You're Probably Missing, and the Tech That's Changing Everything


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In this episode:

  • A little-known tax opportunity involving long-term care costs that can significantly reduce taxable income if handled correctly

  • Why medical expense deductions aren't as straightforward as people think, and how thresholds and documentation come into play

  • The real story behind deducting vehicles for business use, including where people tend to overestimate what they can write off

  • How newer depreciation rules and limits impact big purchases, especially vehicles and equipment

  • Key deadlines and elections business owners often miss, and how those timing decisions can affect taxes

  • A candid look at how artificial intelligence is rapidly changing accounting, bookkeeping, and financial reporting

  • Practical ways firms are already using AI to save time, improve accuracy, and streamline client work

  • What business owners should expect as technology becomes more embedded in financial operations, whether they like it or not

  • A shift toward more modern, digital client experiences, including changes to billing and payment processes

...more
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Accounting and AccountabilityBy Faw Casson

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