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Rate normalization and the return of risk

Rate normalization and the return of risk

Conditions are ripe for the yield curve to continue to normalize as the long end moves to a range between 4% and 4.25%.
Paying attention to risks as you shift your business to the cloud

Paying attention to risks as you shift your business to the cloud

Successful digital transformation projects may need outside help to ensure security and risk management are part of the overall planning.
New guidance on section 174 research expenditures

New guidance on section 174 research expenditures

Notice 2024-12 clarifies rules regarding research performed under a contract while Rev. Proc. 2024-9 updates guidance on accounting method changes.
New IRA Clean Vehicle Credit guidance

New IRA Clean Vehicle Credit guidance

Proposed regulations on the section 30D clean vehicle credit clarify battery supply chain rules
December Insights Newsletter

December Insights Newsletter

Welcome to the very first edition of our firm E newsletter, where we strive to keep you informed, engaged, and inspired. As we navigate with you the ever-evolving landscape in the accounting and financial world, it is our pleasure to share with you certain exciting developments, achievements, and milestones that continue to shape our journey together along the way.
IRS to provide automatic penalty relief to eligible taxpayers

IRS to provide automatic penalty relief to eligible taxpayers

The IRS announced plans to provide automatic penalty relief for failure to pay penalties incurred in tax years 2020 and 2021 on income tax obligations. Eligible taxpayers include individuals, businesses, trusts, estates and tax-exempt organizations that meet certain qualifying criteria. The IRS is taking this step in tandem with the resumption of mailing automated notices of amounts due which had been temporarily suspended during the COVID-19 pandemic.
FASB issues ASU on accounting and disclosure of certain crypto assets

FASB issues ASU on accounting and disclosure of certain crypto assets

This ASU requires certain crypto assets to be measured at fair value with changes in fair value recognized in net income, and enhances disclosures.
FASB issues final standard on income tax disclosures

FASB issues final standard on income tax disclosures

Recently issued FASB guidance expands income tax disclosures, including the rate reconciliation and income taxes paid.
New white paper on accounting for joint venture formations

New white paper on accounting for joint venture formations

RSM's white paper on joint venture formations covers the scope, disclosures and transition method for a recent Accounting Standards Update.
IRS will use AI to help target partnerships and high net worth individuals

IRS will use AI to help target partnerships and high net worth individuals

The IRS announced a sweeping enforcement effort that will engage AI to focus on large partnerships and wealthy individuals.
2023 annual tax update for exempt organizations

2023 annual tax update for exempt organizations

Learn more about the current tax landscape for exempt organizations as well as look ahead to 2024.
What To Do With Old Retirement Accounts

What To Do With Old Retirement Accounts

You likely have at least one old retirement account if you've ever changed employers. These accounts stay exactly as you left them unless you take action. In this video, we'll provide options for what to do with those old accounts.

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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.