S2 EP8 - 2026 Tax Changes That Matter with Sheilah Smith CPA

We bring on CPA Sheilah Smith to break down the biggest 2026 tax updates and the real-world “gotchas” that trip people up during tax season. We also get practical about receipts, missing tax forms, business bookkeeping habits, and what to do if you have not filed in years. 

• no tax on tips and what people expect versus what rules require 
• no tax on overtime and why eligibility can be tricky 
• 100% bonus depreciation and how it affects business purchases 
• additional deduction for taxpayers age 65+ and the Social Security tax frustration 
• why receipts matter and why statements are not enough 
• how to document meal expenses with who and why 
• avoiding missed forms by collecting every page of consolidated 1099s 
• separating business and personal funds to avoid missed deductions 
• estimating the business portion of a cell phone bill 
• catching up on unfiled returns and reducing the stress 
• married filing jointly and shared responsibility, especially in divorce 

Sheilah Smith CPA 
214-282-5506
http://sheilahsmithcpa.com/