Accounting in the Wild
Accounting in the Wild features interviews about the day-to-day realities of being a small-to-medium-sized practitioner today. And sometimes we’ll talk about topics relating to business ownership, or to average taxpayers – a little something for everyone.
Accounting in the Wild
Overtime Deduction, Trump Accounts & 1099 E-Filing — Big Beautiful Bill Updates
Jason’s back with a grab bag of timely tax and accounting updates pulled straight from his teaching sessions and client questions.
In this episode of Accounting in the Wild, you’ll hear about:
- Big Beautiful Bill (BBB) — the brand-new overtime pay deduction, how “qualifying overtime” is defined under the Fair Labor Standards Act, and why W-2s aren’t changing in 2025 (but employers still have new reporting duties).
- Trump Accounts — what they are, how they work, and the unanswered questions around the $2,500 employer contribution rule.
- Electronic filing of 1099s — the difference between the IRS FIRE and IRIS systems, plus when using a third-party provider might make sense.
- 1099-K reporting threshold — BBB restores the 200 transactions / $20,000 limit.
- Contractor vs. employee — why the Department of Labor’s interpretation just shifted back to a pre-Biden stance.
Whether you’re a tax pro, CPA, EA, or just curious about the latest changes, this episode is packed with real-world explanations you can put to use immediately.
🎓 Earn CPE credit for listening to this program through our sponsor My CPE One: https://my-cpe.com (make sure to include the hyphen — my-cpe.com).