Traction with the Tiger

In this emergency headline episode of Traction with the Tiger, host and Tax Tiger Chris Wittich is joined by Isabel Wollermann from the tax team to break down recent changes to 529 plans included in the One Big Beautiful Bill. From doubling the K–12 spending limit to $20,000, to allowing funds to cover professional credentials like the CPA exam, these updates significantly expand how families can use 529 savings. Tune in to hear ho...

In this emergency headline edition of Traction with the Tiger, host and Tax Tiger Chris Wittich cuts through the noise surrounding the much-hyped "no tax on Social Security" provision. Spoiler alert: that’s not actually what the law does. Chris breaks down the new $6,000 senior deduction, who qualifies, how it phases out based on income, and why it has nothing to do with whether you’re actually receiving Social Security b...

In this emergency headline episode of Traction with the Tiger, host and Tax Tiger Chris Wittich breaks down the surprising new rules around charitable deductions under the One Big Beautiful Bill. There’s a new above-the-line deduction of up to $1,000 (or $2,000 for joint filers) for cash donations, even if you don’t itemize. But for those who do itemize, a 0.5% AGI floor has been introduced, meaning the first portion of your donati...

In this emergency headline episode of Traction with the Tiger, host and Tax Tiger Chris Wittich unpacks a brand-new and unexpected benefit from the One Big Beautiful Bill: the ability for some individuals to deduct up to $10,000 of interest on a new car loan. But, as always, the details matter. Chris breaks down who qualifies, how the deduction works (hint: it’s not itemized), the phaseout thresholds, and what this means when decid...

In this emergency headline episode of Traction with the Tiger, host and Tax Tiger Chris Wittich explains a brand-new feature of the One Big Beautiful Bill: The “Trump Accounts.” Designed for children born between 2025 and 2028, these government-seeded investment accounts start with a $1,000 contribution and allow for up to $5,000 in additional contributions annually. Chris explores how they work, what makes them different (or not) ...

In this emergency headline edition of Traction with the Tiger, host and Tax Tiger Chris Wittich breaks down the surprising and sweeping elimination of energy-related tax incentives under the One Big Beautiful Bill. From the repeal of Section 179D deductions to the disappearance of residential solar, geothermal, EV, and home improvement credits, most of these benefits are slated to end after 2025, with some (like 179D) lasting until...

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 receivin...

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 va...

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...

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 futu...

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 h...

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. Wit...

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 for...

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 i...

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.

Chri...

Welcome to The Big Beautiful Breakdown, our special podcast series on the newly passed tax bill.

In this first episode, Chris Wittich tackles one of the most complex intersections in the legislation — how changes to the QBI deduction and SALT cap phaseouts could lead to an unexpectedly high tax burden for service business owners earning between $500,000 and $600,000.

A critical listen for anyone navigating year-end planning in light ...

Now that we're officially out of busy season, it's time to look back and reflect.

In this episode of Traction with the Tiger, host Chris Wittich is joined by fellow tax professional Drew Wolf for a candid conversation about surviving tax season while parenting young children. They talk sleep deprivation, shifting expectations, and how even 50-hour weeks can feel long when your baby thinks 4:30 AM is go time.

They share business and p...

In this episode (recorded back in April), we check in on the IRS, and let’s just say, it’s not going great. From Employee Retention Credit (ERC) claims stuck in bureaucratic limbo, to automated notices that seem to ignore reality, to the never-ending wait for amended returns, we unpack the chaos taxpayers and tax professionals are facing right now. We talk about COVID-era backlogs, what’s changed (and what hasn’t), and the potentia...