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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.
U.S. income and spending see strong gains as year nears an end

U.S. income and spending see strong gains as year nears an end

November had a 0.4% increase in nominal income and spending, while inflation-adjusted spending advanced at a 0.3% pace, according to Commerce Department data on Friday.
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
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.
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.
Consumer products holiday season insights: E-commerce helps drive holiday sales growth

Consumer products holiday season insights: E-commerce helps drive holiday sales growth

As the digital buying experience grows in importance for future holiday periods, companies must focus on their technology platforms.
Fed signals end of rate hikes and projects cuts in 2024

Fed signals end of rate hikes and projects cuts in 2024

The Federal Reserve signaled at its meeting on Wednesday that it is done raising its policy rate and is poised to reduce it by 75 basis points next year to support the expanding economy.
U.S. November Consumer Price Index: Inflation continues to abate

U.S. November Consumer Price Index: Inflation continues to abate

Inflation continued to abate in November as energy prices declined by 2.3% and gasoline prices dropped by 6%, resulting in a 0.1% monthly advance in the CPI.
U.S. November jobs report: This is what a soft landing looks like

U.S. November jobs report: This is what a soft landing looks like

Through November this year, the American economy has produced 2.58 million jobs as inflation has eased from 6.4% to 3.2% all while the unemployment rate has remained below 4%.

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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.