In this emergency headline episode of Traction with the Tiger, host and Tax Tiger Chris Wittich unpacks the latest updates surrounding the Employee Retention Credit (ERC) in light of the recently passed One Big Beautiful Bill. From increased enforcement provisions and extended statutes of limitations to newly issued IRS FAQs, Chris breaks down what it all means for taxpayers, especially those who filed late or are just now receiving funds. He also explains the practical implications of picking up ERC income in the year received or deducting repayments in the current year. With a new IRS commissioner stepping in and ongoing developments, ERC remains a hot topic.

In this quick-hit emergency episode of Traction with the Tiger, host and Tax Tiger Chris Wittich dives into a smart question raised during a recent client webinar: If bonus depreciation is back to 100%, is Section 179 still worth it? Spoiler alert. yes, it is. Chris breaks down the critical differences between bonus depreciation and Section 179, including flexibility, state treatment, income planning, and how each interacts with various loss limitation rules. If you’ve ever wondered how to fine-tune your depreciation strategy for better tax outcomes, this one’s for you.

Chris Wittich tackles a late-breaking tax change that’s creating a lot of noise: the new 90% cap on deductible gambling losses.

Previously, gambling losses were deductible up to the amount of winnings now, only 90% of those losses count. The result? Gamblers who break even could still owe tax on phantom income.

Chris explains how this rule affects both casual gamblers and professionals, why Minnesota taxpayers may already be familiar with this kind of treatment, and why this provision, despite being called “permanent”, may not last. Lawmakers are already introducing bills to repeal it.

If gambling shows up on your return, this is one to watch.

Chris Wittich sits down with Nick Swedberg to cover one of the most talked-about provisions in the new tax bill: the no-tax-on-tips deduction.

This new rule allows up to $25,000 in tip income to be excluded from tax, but only if the tips are properly reported and come from a job where tipping is considered customary.

Chris and Nick discuss who qualifies, how the deduction works, what’s still uncertain, and how this may influence future policy and employer practices, especially in restaurants and salons.

From stylists and servers to casino dealers and delivery drivers, the effects of this change could be far-reaching for both workers and business owners.

Chris Wittich and Matthew Koch unpack the sweeping changes to depreciation in the new tax bill.

From the return of 100% bonus depreciation to an expanded Section 179 limit, there’s plenty to like. But the real story is a new category, Qualified Manufacturing Property, that could allow manufacturers to fully expense the cost of new or significantly renovated facilities.

Chris and Matthew cover what we know, what’s still unclear, and how this change opens the door for proactive planning, especially for companies already considering expansion. They also explore the financial and compliance considerations around timing, interest rates, loss limitations, and IRS guidance still to come.

Chris Wittich and Matthew Koch explore the long-awaited fix to Section 174 that finally passed in the new tax bill. After three years of painful addbacks and capitalization requirements, businesses with domestic R&D expenses can now go back to deducting them, but not without a few key decisions.

Chris and Matthew walk through what changed, what didn’t, and what options businesses now have to handle their prior-year expenses. With three different paths for small businesses and two for larger ones, the modeling, timing, and risk tolerance involved will all play a role in the decision.

They also cover IRS delays, state conformity challenges, and how advisors can guide clients through the uncertainty.

In this emergency headline edition of Big Beautiful Breakdown, Chris Wittich is joined by Nick Swedberg to dive deep into a hidden gem in the new tax legislation. The Tip Credit, long available only to food service businesses, is finally being extended to salons, spas, barbers, and other beauty industry professionals.
Chris and Nick explain how the credit works, why it matters, and what it means for compliance and planning going forward. They also explore how this change could be a major differentiator between CPAs who understand the beauty industry and those who don’t.

In this episode of The Big Beautiful Breakdown, Chris Wittich is joined by Barb Sawdy to demystify the new “no tax on overtime” provision included in the latest tax bill.

They break down how this new deduction is expected to function, including the $12,500 cap, income phaseouts, and the mechanics of tracking overtime pay. The big question: how will this actually show up on your W-2, and will payroll providers be ready in time?

This is a practical, behind-the-scenes look at how policy becomes real for employers, employees, and tax preparers alike.

In this solo episode of The Big Beautiful Breakdown, Chris Wittich covers key individual tax provisions in the new tax bill that have been extended or only slightly modified.

He explains what’s not changing, including tax brackets, the standard deduction, and personal exemptions, along with small increases to the child tax credit and daycare credit.

A helpful overview for taxpayers wondering what to expect going into 2025.

In this episode of The Big Beautiful Breakdown, Chris Wittich takes a closer look at the updated SALT cap, one of the most hotly contested parts of the new tax bill.

While the cap on state and local tax deductions has been increased from $10,000 to $40,000, it now comes with a sharp phaseout for joint filers between $500,000 and $600,000 of income. The result? A potential effective federal tax rate over 43 percent in that range.

Chris walks through the math, the impact, and why smart planning matters more than ever, especially for wage earners and high-income professionals.