Johnson & Sheldon, PLLC

📊 Time to review your tax withholding before year-end! High-income earners and gig workers, it’s crucial to adjust your tax payments before the year closes to avoid surprises come tax season. ⭐️ Top Highlights ⭐️ → Gig workers should ensure quarterly taxes are up to date. → High-income earners with investments may need extra withholding. → Meeting with a CPA can help prevent unexpected tax bills. 👉 Check out the full article: https://bit.ly/3BTrP8R Stay ahead of the curve – contact us now for tailored advice and optimal strategies. #TaxPlanning #GigEconomy #YearEndTax

💡 Planning a new business? Learn how to handle pre-startup costs! Starting a business comes with expenses—even before you officially launch. But are those costs deductible? ⭐️ Top Highlights ⭐️ → Section 195 allows up to $5,000 of pre-startup costs to be deducted. → Costs over $50,000 must be amortized over 180 months. → Only operational businesses can claim deductions—timing is key! 👉 Check out the full article: https://bit.ly/4ePxbAy Stay ahead of the curve – contact us now for tailored advice and optimal strategies. #StartupTax #BusinessPlanning #Entrepreneurship

🎃 Happy Halloween! 🎃 Wishing everyone a fun-filled day of spooky celebrations! 👻 Whether you're trick-or-treating or enjoying the festivities, remember to stay safe and make the most of this ghoulishly delightful day! #HappyHalloween #StaySafe #HaveFun

⚠️ The clock is ticking on key tax provisions! Are you prepared? With several critical TCJA provisions set to expire by the end of 2025, businesses and individuals could face significant tax changes. Now is the time to plan ahead. ⭐️ Top Highlights ⭐️ → Qualified Business Income Deduction may expire, leading to higher taxes. → Top income tax rates could rise to 39.6%. → Standard Deduction set to decrease—plan itemized deductions wisely. 👉 Check out the full article: https://bit.ly/3UmaiwB Stay ahead of the curve – contact us now for tailored advice and optimal strategies. #TaxPlanning #TCJA #BusinessFinances

📰 Our October 2024 Insights Newsletter is Out Now! Don't miss out on valuable information and insights. 👇 Click the link below to read the full newsletter and stay informed! https://bit.ly/3AiOg6Q #LatestNews #Insights #StayInformed

Thank You!!! A big thank you to all of our clients, supporters and friends who voted for us this year. We are thrilled with this award, and we are so appreciative of the great client relationships that we have as well as the best team of accountants in the region. We will continue to work to be the best Accounting Firm in Amarillo!

💼 Prepare for Big Tax Changes in 2025: Are You Ready? As we approach the 2024 election, businesses and individuals should start preparing for potential tax law changes in 2025. ⭐️ Top Highlights ⭐️ → Expiring provisions from the 2017 tax law → Candidates’ proposals could reshape tax policy → Plan ahead with your tax advisor to stay ahead of changes 👉 Check out the full article: https://bit.ly/3Y04yLf Stay ahead of the curve – contact us now for tailored advice and optimal strategies. #TaxPlanning #Election2024 #BusinessStrategy

📣 Smart Moves for Managing a Financial Windfall A sudden financial gain is both an opportunity and a challenge. This article outlines practical strategies to ensure your windfall enhances your financial future. ⭐️ Top Highlights ⭐️ → Evaluate your current financial situation before making any moves → Plan for taxes to avoid unexpected liabilities → Make strategic investments to maximize growth and stability 👉 Check out the full article: https://bit.ly/3MQ1wT9 Stay ahead of the curve – contact us now for tailored advice and optimal strategies. #FinancialPlanning #WealthManagement #TaxStrategy

📉 Is the Economy Really Heading into a Recession? Despite recent market turbulence, many experts believe the U.S. economy will avoid a recession. Read this insightful article that breaks down the 7 reasons why the economy will continue to grow. ⭐️ Top Highlights ⭐️ → Resilient consumer spending and steady business investment → Federal Reserve likely to cut rates, boosting growth → Infrastructure spending set to drive long-term productivity 👉 Check out the full article: https://bit.ly/4eqBTnN Stay ahead of the curve – contact us now for tailored advice and optimal strategies. #EconomicGrowth #Resilience #BusinessOutlook

✏️ Planning to downsize? Ensure your retirement move is financially savvy by considering key tax implications. From capital gains exclusions to tracking home improvements, these steps can help retirees minimize tax liabilities. ⭐️ Top Highlights ⭐️ → Capital Gains Tax: Consider your tax bracket to strategically time your home sale. → Exclusion Limits: Maximize your capital gains tax exclusion by planning ahead. → Cost Basis: Increase your cost basis by accurately tracking capital improvements. 👉 Check out the full article: https://bit.ly/4gfkpg0 Stay ahead of the curve – contact us now for tailored advice and optimal strategies. #RetirementPlanning #Downsizing #TaxStrategy