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SALT cap receives modest and temporary update in the One Big Beautiful Bill Act

SALT cap receives modest and temporary update in the One Big Beautiful Bill Act

RSM explains how the Big Beautiful Bill changed the SALT cap and did not meaningfully change PTET elections and deductions. Learn more.
Permanent QBI deduction provides some tax planning certainty

Permanent QBI deduction provides some tax planning certainty

RSM explains how the Big Beautiful Bill made permanent the 20% deduction for qualified business income and what it means for pass-through entities.
Top 10 retirement plan internal control pitfalls – and how to avoid them

Top 10 retirement plan internal control pitfalls – and how to avoid them

Common retirement plan operational failures can be mitigated through proper oversight and development of processes and procedures.
Key Fiduciary Considerations Impacting Your Retirement Plan

Key Fiduciary Considerations Impacting Your Retirement Plan

As advocates of plan participants' interests, retirement plan fiduciaries must navigate the landscape of complex matters impacting retirement plans.
A tax-focused walk-through of the One Big Beautiful Bill Act 

A tax-focused walk-through of the One Big Beautiful Bill Act 

The One Big Beautiful Bill Act overhauls the tax code, locking in many 2017 cuts and unveiling new relief for workers, families, and businesses. Read our article for an overview of new rules created by the Act, in addition to extensions or enhancements of existing provisions.
OBBBA restores higher business interest expense limit: How businesses can benefit

OBBBA restores higher business interest expense limit: How businesses can benefit

RSM explains how businesses can benefit from the favorable interest expense limitation restored by the Big Beautiful Bill. Learn more.
The OBBBA restores and expands bonus depreciation: What it means for businesses

The OBBBA restores and expands bonus depreciation: What it means for businesses

RSM explains how the Big Beautiful Bill restores and expands 100% bonus depreciation and how it incentivizes capital investment. Learn more.
New tax law introduces big changes for exempt organizations and donors

New tax law introduces big changes for exempt organizations and donors

RSM explains the major changes that the Big Beautiful Bill brings to exempt organizations, higher ed, and donors. Learn more.
The One Big Beautiful Bill Makes Domestic R&E Expenditures Deductible Again

The One Big Beautiful Bill Makes Domestic R&E Expenditures Deductible Again

The One Big Beautiful Bill Act has returned the ability for companies to immediately deduct domestic research and experimental (R&E) costs for the 2025 tax year, but it also introduces a complex network of new choices taxpayers will need to make strategically for the 2025 tax year. The Bill establishes new transition rules: one that allows for retroactive application by eligible taxpayers and another that allows for the acceleration of remaining unamortized amounts.
Tax traps for real estate investors and how to avoid them

Tax traps for real estate investors and how to avoid them

Uncover strategies to maximize benefits and minimize pitfalls, from understanding passive loss rules to mastering 1031 exchanges and differentiating repairs from capital improvements. Stay informed and effectively manage your investments amidst an ever-evolving tax landscape.
5 ways the One Big Beautiful Bill Act could help your company save on taxes

5 ways the One Big Beautiful Bill Act could help your company save on taxes

RSM explains 5 ways in which the Big Beautiful Bill can help middle market businesses save on taxes. Learn more.
The Ripple Effect: What Will State and Local Tax Look Like Under the One Big Beautiful Bill?

The Ripple Effect: What Will State and Local Tax Look Like Under the One Big Beautiful Bill?

The One Big Beautiful Bill introduces significant changes to state and local tax practices and policies.
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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

    Johnson & Sheldon, PLLC, is proud to be part of Aprio Alliance — a national association created by accounting professionals to help collaborative, growth-minded CPA firms thrive. This affiliation gives us access to leading expertise, resources, and best practices, while preserving what matters most: the personalized service and local insight you expect from an independent firm. Joining Aprio Alliance reinforces our commitment to exceptional client service and staying ahead of industry trends. While we leverage the strength of a national firm, we remain fully independent—maintaining our name, client relationships, and service approach.