Traction with the Tiger

The tip credit has expanded beyond restaurants and food service to include the beauty industry, creating new planning opportunities for salons, nail businesses, med spas and other qualifying businesses. But understanding the credit goes beyond simply multiplying tips by 7.65%.In this episode of Traction with the Tiger, Chris Wittich takes a deeper look at how the tip credit works, including its nonrefundable nature, limitations on how much tax it can offset, carryback rules and the use of Form 1045 to claim excess credits. He also discusses a lesser-known limitation that can apply when employees are paid below the federal minimum wage and what the expanded credit means for businesses in the beauty industry.The episode closes with practical considerations for claiming the credit on 2025 returns, handling excess credits and incorporating the tip credit into future tax planning.

What are the biggest challenges facing accounting firms today? The 2026 AICPA Top Issues Survey offers a surprising answer: technology and AI.In this episode of Traction with the Tiger, Chris Wittich breaks down the survey’s findings across firm sizes, from solo practitioners to firms with 500+ professionals. He explores why tax law complexity dominates the concerns of smaller firms, why staffing challenges are shifting, and why technology adoption and AI are the one issue affecting firms across the profession.Chris also shares how Boyum Barenscheer is approaching AI adoption, from firm-wide initiatives to hands-on experimentation, and why learning to use these tools effectively may soon be as essential as knowing Excel.The accounting profession is changing quickly. The opportunity may be figuring out how to choose your own adventure.

Most charitable donations provide a tax deduction—but what if your contribution resulted in a dollar-for-dollar federal tax credit instead?In this episode, Chris Wittich explores the new Scholarship Granting Organization (SGO) tax credit created under Section 25F of the Internal Revenue Code. Available beginning in 2027, the credit allows individuals to receive up to a $1,700 federal tax credit for qualifying contributions to certified Scholarship Granting Organizations.Chris discusses:How the new tax credit worksWhy this opportunity is different from traditional charitable deductionsWhich organizations qualifyWhy states play a critical role in administering the programCurrent state participation and what it means for taxpayersIRS guidance expected before the credit becomes availablePlanning considerations and potential pitfalls, including double-dipping with other tax benefitsIf charitable giving is part of your financial or tax strategy, this episode offers an early look at one of the most significant new tax planning opportunities on the horizon.

Trump accounts officially begin rolling out, and there are several important updates families should understand before opening one.In this episode, Chris Wittich discusses Robinhood becoming the initial custodian, the latest IRS guidance on gift tax reporting, and what Revenue Procedure 2026-25 means for taxpayers. He also reviews how Trump accounts work, long-term planning opportunities, and why waiting a few months before opening an account may be a practical approach while additional guidance becomes available.Whether you're considering opening a Trump account for your child or simply want to stay informed, this episode breaks down the latest developments in plain English.

In this episode of Traction with the Tiger, Tax Partner Chris Wittich breaks down the recent Kwong case and what it could mean for taxpayers who paid IRS penalties during the COVID-19 period.Chris explains who may qualify for a refund, how Form 843 is used to file a claim, and why the July 10, 2026 deadline is critical. While the IRS is appealing the court's decision, taxpayers who paid significant penalties between January 2020 and July 2023 may want to consider filing a refund claim before the opportunity expires.Tune in for a practical overview of this time-sensitive tax planning opportunity.

When your company's retirement plan reaches a certain size, a 401(k) audit may become a requirement, but many employers don't realize it until they're up against a deadline. In this episode of Traction with the Tiger, Chris Wittich sits down with Boyum Barenscheer Audit Partner Jake Kriegler to break down what 401(k) audits are, when they're required, common compliance mistakes, and how employers can prepare before they cross the audit threshold. From auto-enrollment issues to timely contribution remittances, Jake shares practical insights to help business owners, HR professionals, and plan administrators avoid costly corrections and keep their retirement plans on track.

In this solo episode of Traction with the Tiger, Chris Wittich breaks down Minnesota’s newly signed 2026 tax bill and what it means for business owners, pass-through entities, and taxpayers across the state.Chris walks through the most important changes in the legislation, including the extension of the Minnesota Pass-Through Entity (PTE) tax through 2027, new conformity updates tied to recent federal tax law changes, and several surprising areas where Minnesota chose not to conform. He also explains what taxpayers should do next if they’ve already filed their 2025 returns and how estimated tax payments may need to change before the June 15 deadline.Topics covered include:Minnesota’s extension of the PTE tax for 2026 and 2027Estimated payment catch-up rules and interest reliefSection 174 R&D expense conformity changesNew Minnesota limitations on charitable contribution deductions529 plan nonconformity issuesWhether taxpayers should amend returns or wait for state adjustmentsIf you file Minnesota returns, own a business, or advise clients on tax planning, this episode provides a practical breakdown of what changed, what didn’t, and what actions should be considered now.

In this solo episode of Traction with the Tiger, Chris Wittich dives into conference season, a familiar rhythm for CPAs and business professionals after the intensity of tax season. From salon industry conferences to major CPA events like AICPA ENGAGE, Chris breaks down the different reasons professionals attend conferences, what makes them valuable, and how to approach them intentionally.He shares insights on networking, learning opportunities, vendor relationships, CPE credits, and why preparation before, and reflection after, a conference matters just as much as attending. Most importantly, Chris explains the single question he uses to decide whether a conference is worth returning to year after year:“Did I get something out of this conference that I could not have gotten another way?”Whether you attend industry events, leadership summits, or technical conferences, this episode offers a practical framework for making conferences more meaningful, productive, and worthwhile.

Tax season is over. Now comes the real question: how should you measure it?In this solo episode of Traction with the Tiger, Chris Wittich breaks down the most common ways CPA firms evaluate tax season performance, and why many of them fall short. From revenue and returns filed to extensions, new clients, and staff workload, there’s no shortage of metrics. But not all of them drive better decisions.Chris shares his perspective as a tax department leader overseeing 50+ professionals and explains why he focuses on just two metrics to evaluate success:Total hours worked across the team as a measure of efficiency and sustainabilityThe experience of 10 key client relationships as a proxy for overall client successYou’ll also hear:Why revenue can lag and distort performance insightsHow tracking returns vs. extensions impacts workflow strategyThe connection between staff hours and stress levelsA practical way to simplify client satisfaction across thousands of engagementsChris closes with a transparent look at his firm’s recent tax season, including where performance improved, where it didn’t, and how it ultimately graded out.If you’re a CPA firm leader looking to refine how you measure performance and set clearer expectations going into the next busy season, this episode offers a focused, practical framework.

In this episode, Chris Wittich sits down with Josh Gerdes, Director of Recruiting Solutions at Boyum Barenscheer, to discuss strategies for attracting and retaining top talent in CPA firms. Josh shares insights on building a candidate-first experience, using proactive recruiting techniques, and creating a work environment that balances career growth with employee engagement.They also explore how internal recruiters can help firms scale efficiently, improve workforce planning, and enhance hiring outcomes. Whether you’re a CPA firm leader or HR professional, this episode provides actionable strategies for strengthening your recruiting process and building a high-performing team.