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Business meals and entertainment: A summary of tax deductions

Business meals and entertainment: A summary of tax deductions

Tax deductions for meals and entertainment expenses are complex and includes analyzing rules, exceptions, and changes effective in 2026.
You’ve filed an S election – now what? A practical compliance checklist for new S corps

You’ve filed an S election – now what? A practical compliance checklist for new S corps

Making the jump to S-corporation status probably wasn't an impulse decision; you looked at your books, saw profits piling up well beyond the salary you pay yourself, and decided it was time to stop paying self-employment tax on every extra dollar. However, the S election is more than just a single signature on Form 2553; it introduces a new set of rules.
Critical updates on energy credits

Critical updates on energy credits

The One Big Beautiful Bill Act (OBBBA) is changing the landscape of energy tax credits by accelerating expiration dates, leaving homeowners, businesses, and car buyers scrambling to capitalize on incentives for renewable energy and clean vehicles. This article covers several upcoming deadlines for anyone planning energy-efficient upgrades or investments.
Adapting to the OBBB: A Strategic Roadmap for Nonprofits

Adapting to the OBBB: A Strategic Roadmap for Nonprofits

OBBB's tax law changes reshape nonprofit strategies, fundraising, and donor incentives. Learn key updates and how nonprofits can adapt.
Amended guidance for measuring credit losses on short-term receivables

Amended guidance for measuring credit losses on short-term receivables

ASU 2025-05 provides a practical expedient for estimating expected credit losses on current accounts receivable and contract assets.
Transitioning a Family Business to the Next Generation

Transitioning a Family Business to the Next Generation

Learn effective succession planning tactics tailored for private clients and high-net-worth families aiming to secure their family business' future.
When Is the Right Time to Outsource Your Accounting and CFO Services?

When Is the Right Time to Outsource Your Accounting and CFO Services?

Knowing the right time to outsource your accounting and CFO services can transform your business. Discover what signs to look for, services to consider , and how to pick the right partner.
Updates on Reciprocal Tariffs and Implications for Your Business

Updates on Reciprocal Tariffs and Implications for Your Business

Key elements of the U.S. reciprocal tariff program are active, prompting importers and e-commerce firms to reassess logistics and trade posture.
The talent drain is a margin drain: why staffing gaps cost more than you think

The talent drain is a margin drain: why staffing gaps cost more than you think

Strong top-line growth means little if capacity cannot keep up, and profit leaks with every understaffed shift. Dive into the article for strategies to align headcount with demand.
Partnership distribution rules and complexities

Partnership distribution rules and complexities

Explore the intricacies of partnership distributions and uncover how they offer flexibility in profit allocation while presenting unique tax considerations. Delve into the fundamental principles, exceptions, and strategic approaches that can affect your tax outcomes and ensure seamless operations. Discover why clear agreements and professional guidance are crucial in navigating these complex regulations.
Data automation: Creating impact and long-term value

Data automation: Creating impact and long-term value

RSM analyzes how companies can satisfy the increasing need for high-quality data with data integration solutions. Learn more.
Unlock the Power of Your Numbers: Understanding and Improving Key Financial Ratios

Unlock the Power of Your Numbers: Understanding and Improving Key Financial Ratios

Understanding key financial ratios is key for restaurant owners to evaluate and improve their business health, plan growth, and manage risks effectively. These ratios offer insights into profitability, liquidity, and financial stability, serving as essential tools for decision-making and strategic planning.
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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: blewis@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.