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.