Faw Casson CPA

07/19/2026

Giving to charity can provide valuable tax benefits, but proper documentation is essential. Cash donations should always be supported by the required records, contributions to personal GoFundMe campaigns generally are not tax deductible, and large non-cash donations may require a qualified appraisal to claim the deduction.

To listen to the full Episode 144 visit: https://fawcasson.libsyn.com/episode-144-new-tax-credits-crypto-and-irs-chaos

07/18/2026

Starting in 2027, brokers will be required to report digital asset sales on Form 1099-DA. If you buy, sell, or trade cryptocurrency or other digital assets, be sure to provide all of your 1099 forms to your tax preparer to help ensure accurate reporting and avoid potential IRS issues.

Listen to our full Episode 144 of Accounting and Accountability here: https://fawcasson.libsyn.com/episode-144-new-tax-credits-crypto-and-irs-chaos

07/17/2026

New IRS Mileage Rate starting 7/1/26!

07/17/2026

If you earn cryptocurrency through staking, those rewards are generally taxable as ordinary income when you receive them under current tax rules. While legislation has been proposed that could defer taxation until the assets are sold, it has not become law. Be sure to plan accordingly and keep accurate records of your staking activity.

Listen to our full Episode 144 of Accounting and Accoutability here: https://fawcasson.libsyn.com/episode-144-new-tax-credits-crypto-and-irs-chaos

07/16/2026

07/16/2026

A new education-related tax credit is coming in 2027. The Federal Scholarship Tax Credit allows taxpayers to claim a non-refundable credit of up to $1,700 for qualifying donations to K–12 scholarship organizations. There are no income limits to qualify, but the credit is only available in states that choose to participate.

To listen to our full Episode 144 of Accounting and Accountability, listen here: https://fawcasson.libsyn.com/episode-144-new-tax-credits-crypto-and-irs-chaos

07/15/2026

Andy was pleased to speak at the AI and Business panel last week at the M&T Bank Delaware Sales Summit. It was a good day full of sharing and great conversations.

07/15/2026

One of the biggest misconceptions among small business owners is that tax planning means hunting for "loopholes." In reality, the best tax strategies aren't hidden at all. They're written directly into the tax code to encourage behaviors that strengthen businesses, create jobs, and stimulate the economy.

The difference between businesses that consistently build wealth and those that simply survive often comes down to one thing: planning.

07/13/2026

Cheers to Josh Grossman on leveling up to Senior Accountant! Congratulations on your promotion and this well-earned achievement.

07/12/2026

Congratulations to Erica Portillo on her promotion to Senior Accountant! We're grateful to have you on the team and can't wait to see you thrive in your new role.