Faw Casson CPA

08/26/2026

The "widow’s penalty" can arise even when income falls. Smaller deductions for single filers, narrower tax brackets, required distributions, Social Security taxation, and Medicare surcharges can quietly stack up.

Planning ahead can help. Take advantage of every filing status available, maximize joint-filer tax benefits while they remain available, and carefully track both filing and payment deadlines. Grief is unavoidable. Paying more than the law requires is

Email from Faw Casson Episode 148: $105 Billion in Improper Tax Credits: Who's Watching the IRS?   Thank you for telling others about the exceptional service you receive from Faw Casson. We appreciate

08/26/2026

A new job could create an unexpected tax bill if you receive health insurance through the Marketplace.

The Premium Tax Credit is based on your estimated household income and circumstances. If your income changes during the year, updating your Marketplace application can help keep the financial assistance you receive in line with what you actually qualify for.

Lost your job or experienced a drop in income? You may qualify for more help with your premiums.

Started a job or received a raise? You may qualify for less. If you receive too much assistance, you could have to repay some or all of the difference when filing your tax return.

In our latest podcast episode, we explain why Marketplace users should report changes involving:

💼 Employment
💰 Household income
👨‍👩‍👧‍👦 Family size
🏠 Address and eligibility

Do not let an outdated Marketplace profile turn an expected refund into an unexpected balance due.

To listen to the full Episode 147 of Accounting and Accountability, follow this link: https://fawcasson.libsyn.com/episode-147-the-10-year-tax-play-deferring-capital-gains-the-right-way

08/25/2026

Have a capital gain and wish you could delay the tax bill?

Starting in 2027, investing eligible gains in a Qualified Opportunity Fund may allow taxpayers to defer the gain for up to five years. Holding the investment long enough could also reduce the taxable portion of the original gain and potentially eliminate tax on future appreciation.

For example, if a $100,000 investment grows to $200,000 after 10 years, that additional $100,000 of appreciation may qualify for favorable tax treatment.

In our latest podcast episode, we discuss:

📈 How Qualified Opportunity Zones work
⏳ The five-year deferral period
💵 The potential tax benefit after a 10-year holding period
🏗️ Why these investments support designated communities
⚠️ The risks, restrictions, and long-term commitment involved

The tax benefits can be attractive, but 10 years is a long relationship. Choose your investment more carefully than your last streaming subscription.

To listen to the full Episode 147 of Accounting and Accountability, follow this link: https://fawcasson.libsyn.com/episode-147-the-10-year-tax-play-deferring-capital-gains-the-right-way

In this episode: Inflation-indexed IRS deductions, credits, and thresholds for 2026. Non-indexed thresholds that haven't changed in decades (e.g., home sale gain exclusion). New above-the-line charitable deduction for non-itemizers. Rules for deducting donated vehicles. Conservation easements and fa...

08/24/2026

We’ve moved, and we’re ready to celebrate!

Join us for an Open House Happy Hour at Faw Casson’s new Rehoboth Beach office on Wednesday, September 30, from 3–5 p.m. Tour our new space, meet the team and enjoy light refreshments with us.

20376 Coastal Highway, Suite 101
Rehoboth Beach, DE 19971

Please RSVP to [email protected] by September 20.

We look forward to welcoming you into our new space!

08/24/2026

Donating a week at your vacation home sounds generous, but it may not produce the tax deduction you expect.

Giving a charity the use of your timeshare or vacation property generally does not qualify as a charitable deduction because you are donating partial use, not the property itself. That donated week may also count toward your personal-use days, potentially affecting how rental losses and expenses are treated.

There is some good news. If you rent your vacation home for 14 days or fewer during the year, the rental income may be tax-free.

In our latest podcast episode, we explain:

🏠 Why donating temporary use is not usually deductible
📅 How personal-use days affect vacation rentals
💰 When short-term rental income may be tax-free
📊 Why tracking every rental and personal-use day matters

Generosity is great. Generosity with a surprise tax consequence is less charming.



To listen to the full Episode 147 of Accounting and Accountability, follow this link: https://fawcasson.libsyn.com/episode-147-the-10-year-tax-play-deferring-capital-gains-the-right-way

08/22/2026

Conservation easement programs may compensate landowners for permanently giving up development rights while allowing them to continue owning and farming the property. The transaction can include both taxable gain and a charitable contribution component.

In our latest podcast episode, we discuss:

🌱 How conservation easements work
💵 Why a payment may create capital gain
📊 How the charitable contribution is calculated
🏡 Why before-and-after property valuations matter
⚠️ How improper or inflated valuations can attract IRS scrutiny

These transactions can be valuable, but they are complex. A qualified, timely appraisal and guidance from experienced tax professionals are essential.



To listen to the full Episode 147 of Accounting and Accountability, follow this link: https://fawcasson.libsyn.com/episode-147-the-10-year-tax-play-deferring-capital-gains-the-right-way

08/21/2026

Faw Casson is challenging our staff and communities to help our local students by bringing in supplies to any of our three offices from now until September 15. We will be collecting needed items such as pencils, paper, notebooks, glue sticks, folders and much more. Each office will be donating to an organization local to them (let us know if you have one in mind!)

08/21/2026

08/21/2026

Tune into Episode 148 of Accounting and Accountability!

IRS Oversight of Unenrolled Tax Preparers
Overtime Pay Tax Deduction Update
Congressional Tax Proposals to Watch
Tax Court Case: Customer-Funded Improvements
IRS.gov Business Tax Account Expansion
Attorney's Fees and Settlement Tax Traps
New Cryptocurrency Scam Warning
Improper Refundable Credit Payments
Delaware Department of Labor IT Fee

https://fawcasson.libsyn.com/episode-148-105-billion-in-improper-tax-credits-whos-watching-the-irs

08/21/2026

Donating a vehicle? Your tax deduction may not equal its estimated value.

When a charitable organization sells a donated vehicle, your deduction is often based on the sale proceeds, not what you believe the vehicle was worth. That makes proper documentation essential.

In our latest podcast episode, we cover:

🧾 Why the charity’s acknowledgment matters
💰 How the deductible amount is determined
📋 When additional substantiation is required
🔍 Why larger deductions may require a qualified appraisal

Saying, “It was probably worth $7,500” will not satisfy the IRS. Tax deductions run on documentation, not optimism.

Listen to the full episode before donating your vehicle, and keep every form you receive.



To listen to the full Episode 147 of Accounting and Accountability, follow this link: https://fawcasson.libsyn.com/episode-147-the-10-year-tax-play-deferring-capital-gains-the-right-way