Roger and Annie lay out what tax pros should tackle between the October 15 extension deadline and next tax season, from IRS online accounts, WISP updates, and adding a second principal to your EFIN to pricing, hiring, and letting go of problem clients. They also cover what changes for year-end 2026 information returns, including the retirement of the FIRE system in favor of IRIS, higher 1099-NEC and 1099-K thresholds, and new W-2 codes for tips and overtime with no transition relief this time. Plus, an update on the Taxpayer Assistance and Service (TAS) Act, which passed the Senate and now needs the House to act before this Congress ends.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Links mentioned in this episode

Chapters

• (00:00) - Welcome Back Annie
• (02:22) - Online IRS Accounts
• (06:50) - WISP Cybersecurity Refresh
• (10:16) - PTIN Renewal Checklist
• (11:19) - EFIN Backup Principal
• (14:12) - Pricing Hiring Client Cleanup
• (19:26) - Appointment Scheduling Tools
• (22:04) - Year End Payroll Filing Prep
• (25:05) - 1099 Threshold Changes
• (25:44) - Missing 1099s Compliance
• (27:22) - 1099-K Threshold Reset
• (29:07) - W-2 Tips Overtime Codes
• (32:55) - Year-End Tax Payment Moves
• (34:44) - Fix Books Before Busy Season
• (36:48) - W-4 Adjustments And Fees
• (38:34) - Organizers Process And Software
• (41:19) - No Paper Checks Banking Info
• (44:22) - Trump Accounts And New Forms
• (45:12) - TAS Act And Congress Clock
• (47:34) - College Sports Bill Update
• (48:45) - Election Outlook And Wrap-Up
• (50:11) - Final Thanks And Next Guests

This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Roger Harris is joined by Amanda Aguillard, COO of Padgett, to share what they heard from accounting firm owners on this summer's IRS and association conference tour: owners are tapped out and don't know where to start. Amanda walks through Padgett's right-sizing framework (the right work, for the right clients, at the right price, with the right staff). She covers why a "simple" $1,000 business return can hide $7,000 to $8,000 of unbilled cleanup, how to grade every client A through F, and why fewer than 10% of clients walk away from a price increase. With next tax season approaching, she argues that pricing is the one fix that makes everything else possible, from hiring to advisory work.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Link to Resource
https://www.padgettadvisors.com/join/the-rightsizing-playbook/

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Chapters

• (00:00) - Welcome and Guest Intro
• (02:29) - Amanda’s Career Journey
• (05:08) - Conference Pain Points
• (06:20) - Right Sizing Framework
• (11:09) - CEO Mindset Shift
• (14:01) - The Hidden Work Trap
• (19:41) - Advisory Capacity Opportunity
• (22:09) - Client Census and Grading
• (25:59) - Pricing Fears and Reality
• (29:25) - Emotionless Pricing Mindset
• (30:25) - Exceptions Not Strategy
• (31:22) - Drop The Guilt
• (33:10) - Objective Pricing Framework
• (34:07) - Complexity Risk Value
• (36:43) - Profitability Benchmarks
• (39:02) - Pricing Enables Hiring
• (43:50) - Case Study Cutting 1040s
• (46:27) - Raise Fees Now
• (47:42) - Clients Accept Increases
• (51:15) - Rip The Band Aid
• (52:57) - Pricing Beats Tech
• (55:42) - Wrap Up Resources

This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Roger and Annie tackle a topic they've never covered before: the tax issues that come with aging, for clients and preparers alike. They break down the new senior deduction, Social Security claiming strategies across the 62/67/70 timeline, IRMAA appeals, RMD rules, and when long-term care costs are actually deductible. They close with a cautionary tale about gifting appreciated property too early and the recordkeeping every family should have in place before it's needed.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Links mentioned in this episode

Chapters

• (00:00) - Welcome and Forum Travel
• (00:59) - Listener Shoutouts and Podcast Origins
• (02:21) - Tax Talk Today Inspiration
• (04:23) - Senior Deductions and Filing Thresholds
• (07:51) - Social Security Tax Basics
• (08:48) - When to Claim Social Security
• (15:48) - Solvency Fears and Policy Fixes
• (20:21) - Medicare Premiums and IRMAA Appeals
• (22:29) - Retirement Plans and Inherited IRAs
• (24:57) - RMD Rules and Planning Ideas
• (27:29) - Long Term Care and Medical Deductions
• (28:25) - Senior Living Deductions
• (29:12) - Chronically Ill Criteria
• (30:35) - Spouses Insurance Statements
• (32:21) - Meals Fees Itemizing
• (34:38) - Facility Records Due Diligence
• (36:26) - Gifts vs Inheritance Basics
• (37:57) - Basis Step Up Valuations
• (41:43) - Estate Returns Advisory
• (43:32) - Gifting Appreciated Property
• (43:57) - Lake House Cautionary Tale
• (48:04) - Client Records Planning
• (51:01) - Bank Red Tape Death Certificates
• (54:21) - Advisor Role Wrap Up
• (55:25) - Podcast Closing Updates

This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.