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Cost Analysis: Turning Hidden Numbers into Smarter Decisions

Cost Analysis: Turning Hidden Numbers into Smarter Decisions

Want to know where your profit is really going? Here's a practical, business-owner-friendly approach to cost analysis, showing how to uncover hidden inefficiencies, assign overhead accurately, and make confident decisions with your numbers. Whether you’re looking to price smarter, cut waste, or prepare for growth, it all starts here.
Using POD and TOD Accounts in Your Estate Plan

Using POD and TOD Accounts in Your Estate Plan

Discover how Payable-on-Death (POD) and Transfer-on-Death (TOD) accounts streamline the inheritance process, enabling beneficiaries to bypass probate and access assets swiftly. While these tools offer speed and cost-effectiveness, they come with potential pitfalls that could disrupt your estate plan if not carefully coordinated. Explore their benefits and drawbacks to ensure seamless asset distribution among your loved ones.
Final regulations released on increased catch-up contributions under SECURE 2.0

Final regulations released on increased catch-up contributions under SECURE 2.0

The latest IRS final regulations under the SECURE 2.0 Act increase catch-up contribution limits for individuals aged 60 to 63 and require Roth contributions for higher-income earners. These changes aim to enhance retirement readiness but require plan administrators to navigate new operational complexities. Explore how these rules reshape retirement strategies and the paths to compliance.
Bitcoin and Texas Franchise Tax: Key Insights into Intangible Property Ruling

Bitcoin and Texas Franchise Tax: Key Insights into Intangible Property Ruling

Texas treats bitcoin as intangible property. Taxpayers buying and selling bitcoin cannot use the COGs deduction and must source bitcoin sales to the payor location.
Partnership Basis: What Is It & How Does It Work?

Partnership Basis: What Is It & How Does It Work?

Gain insight into partnership basis, track decisions to optimize ownership, and maintain compliance to avoid costly tax consequences.
Tax breaks for tipped workers: qualifying for the new deduction

Tax breaks for tipped workers: qualifying for the new deduction

Discover how the groundbreaking "no tax on tips" provision in the new One, Big, Beautiful Bill (OBBBA) could transform the take-home pay for millions of tip-reliant workers starting in 2025. Learn which occupations qualify, the specific conditions required, and how to prepare for maximized savings under this potentially game-changing deduction.
Preparing for the end of federal paper checks

Preparing for the end of federal paper checks

Executive Order 14247 directs federal agencies to phase out paper checks for refunds, benefits, and contracts. Here’s who’s affected and how to prepare.
Building a budget and forecast system for your business

Building a budget and forecast system for your business

The harsh reality is that many business failures are caused by poor financial planning and cash flow management. Despite this, surprisingly few companies invest in building robust systems for forecasting and tracking their financial future. Learn the fundamentals of building and maintaining a budget and forecast for your business.
No tax on tips: What occupations qualify? What are qualified tips?

No tax on tips: What occupations qualify? What are qualified tips?

RSM explains what employers should know about IRS proposed regulations clarifying the "No tax on tips" provision in the OBBBA. Learn more.
AI is here—is your family office prepared?

AI is here—is your family office prepared?

Learn how family offices can prepare for artificial intelligence adoption with strategy, governance and strong data foundations.
Debt-financed distributions for pass-throughs: how they work and when they make sense

Debt-financed distributions for pass-throughs: how they work and when they make sense

When a pass-through business takes out a loan at the entity level and immediately distributes the borrowed funds to its owners, this is considered a debt-financed distribution. This maneuver provides owners with immediate liquidity without triggering a current tax bill, as long as they have sufficient tax basis to cover the distribution.
The Latest IRS Guidance on Section 174

The Latest IRS Guidance on Section 174

Aprio Insights on the The Latest IRS Guidance on Section 174. Read the article.
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  • Johnson & Sheldon, PLLC
    Amarillo Location
    500 S Taylor St Suite 200
    Amarillo, TX 79101

    Phone: 806-371-7661
    Fax: 806-371-0529
    Email: ebaten@amacpas.com

    Johnson & Sheldon, PLLC
    Pampa Location
    2004 N. Hobart
    Pampa, TX 79065

    Phone: 806-665-8429
    Fax: 806-665-8804
    Email: fbeavers@amacpas.com

    Johnson & Sheldon, PLLC
    Hereford Location
    119 E 4th St
    Hereford TX 79045

    Phone: 806-364-4686
    Fax: 806-364-0826
    Email: khollingsworth@amacpas.com

    AICPA
    Texas CPA Certified Public Accountant

    We are clients of the RSM Professional Services+ Practice. As a client, we have access to the Professional Services+ Collaborative, a globally connected community that provides access to an ecosystem of capabilities, collaboration and camaraderie to help professional services firms grow and thrive in a rapidly changing business environment. As a participant in the PS+ Collaborative, we have the opportunity to interact and share best practices with other professional services firms across the U.S. and Canada.