Shinault Baker & Company

Shinault Baker & Company Shinault Baker and Company Shinault Baker & Company was founded by Michael D. Shinault and Larry G. Baker in September of 1986.

Driven by unequivocal expertise, enthusiasm for continuing education, and a high standard of ethics, Shinault Baker & Company has flourished as a full-service accounting firm. Our diverse client base ranges from the individual to large privately owned companies and governmental entities. The firm offers a broad variety of professional services and is committed to finding personalized solutions for

each client. Shinault Baker & Company delivers unsurpassable dedication and advice to both our clients and the community. With pleasure, we invite you to explore our website and services. Please contact us at any time, and your questions and concerns will be promptly addressed. Shinault Baker & Company, Certified Public Accountants, is licensed by the California State Board of Accountancy, license number 6085. The firm and its principals are members of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants.

Today, our staff honors Shinault Baker partner, Daniel Gutierrez, and all who served this country. Thank you to you and ...
11/11/2022

Today, our staff honors Shinault Baker partner, Daniel Gutierrez, and all who served this country. Thank you to you and your families for your sacrifices to keep us safe.

Today we honor all our veterans who put their lives on the line and sacrificed so much to defend the freedoms that we so...
11/11/2021

Today we honor all our veterans who put their lives on the line and sacrificed so much to defend the freedoms that we so often take for granted. We extend our deepest gratitude to our firm partner, Daniel Gutierrez, who was one of those brave men who served our country.

Too often, people planning their estates focus on tax and asset-protection issues and overlook long-term health care nee...
09/17/2021

Too often, people planning their estates focus on tax and asset-protection issues and overlook long-term health care needs. But the high cost of long-term care (LTC) can quickly devour resources you need to maintain your lifestyle during retirement and provide for your children or other heirs. LTC insurance coverage is one option to offset the costs. Coverage is relatively expensive, but it may be possible to reduce the cost by purchasing a tax-qualified policy. Generally, benefits paid in accordance with an LTC policy are tax-free. In addition, if a policy is tax-qualified, your premiums may be deductible (as medical expenses) up to a specified limit.

Many people have seen their home values increase recently. Be aware of the tax implications if you sell your home. If yo...
09/15/2021

Many people have seen their home values increase recently. Be aware of the tax implications if you sell your home. If you’re selling your principal residence, you can exclude up to $250,000 ($500,000 for joint filers) of gain, if you meet certain requirements. For example, you must have owned the property for at least 2 years during the 5-year period ending on the sale date. If you sell your main home, and you qualify to exclude up to $250,000/$500,000 of gain, the excluded gain isn’t subject to the 3.8% net investment income tax (NIIT). However, gain that exceeds the exclusion limit is subject to the tax if your modified adjusted gross income is over a certain amount.

Same great staff, same phone BUT Shinault Baker & Company is busy moving to our new location this weekend. 4200 Truxtun ...
08/28/2021

Same great staff, same phone BUT Shinault Baker & Company is busy moving to our new location this weekend.
4200 Truxtun Avenue
Suite 102

Although probate can be time consuming and expensive, one of the biggest downsides is that it’s public. The public natur...
07/29/2021

Although probate can be time consuming and expensive, one of the biggest downsides is that it’s public. The public nature of probate can draw unwanted attention from disgruntled family members who may challenge the disposition of your assets, as well as from other unscrupulous parties. The simplest ways to avoid probate involve designating beneficiaries or titling assets in a manner that allows them to be transferred directly to your beneficiaries outside your will. So, for example, be sure that you have appropriate, valid beneficiary designations for assets such as life insurance policies, annuities and retirement plans.

Michael D. Shinault                                 7/17/1955 - 6/18/2021Michael David Shinault was born July 17, 1955 t...
06/25/2021

Michael D. Shinault
7/17/1955 - 6/18/2021

Michael David Shinault was born July 17, 1955 to David and Maxine Shinault in San Jose, CA. The young family returned to their hometown of Delano shortly thereafter and David became a Wasco police officer. In 1961, David was killed in the line of duty, leaving his young widow with Michael and his two younger sisters, Michelle and Melanie. The following year, Maxine married Dwight Kennedy and in 1963, Michael was excited when his baby brother, Ron, was born.

Michael grew up in Bakersfield, attending several different elementary schools and graduating from West High School in 1973. He attended Bakersfield College where he first laid eyes on the girl in “flip flops and short shorts” who would eventually become his wife. He transferred to Cal State Bakersfield and earned his bachelor’s degree in accounting in 1977. While at CSB, he became friends with that girl from BC, Patrice Suorez, and with his future business partner, Larry Baker. Upon graduation, they all went their separate ways but remained friends. Michael went to work in the accounting field for several local companies including Sun World, Carl Livsey, CPA and Earl Dunstan.

In 1981, the time and circumstances were such that he decided to finally take a chance and see if maybe his friendship with Patrice could develop into something more. It did not take long for her to realize that the happiness she had hoped for had been within reach for many years. They were married on September 11, 1982. It was a marriage built on love, faith in God, mutual respect, and devotion to family. From 1983 to 1988, their family grew as they were blessed with Meghan, Gregory, Kristin and Katelyn. His kids were his life. Michael was so proud and loved that each had qualities that made them unique and absolutely perfect. His four grandkids were the icing on the cake. He repeatedly said that he led a very blessed life.

Earl Dunstan was a wonderful friend and mentor. Earl wished him well and Patrice fully supported him when Michael decided to venture out and start his own business in 1984. The business was certainly not an immediate success. In fact, he hadn’t even passed the CPA exam at that point. But with sheer determination, Michael passed the exam and became a CPA and also earned a master’s degree in taxation from Golden Gate University. Larry Baker joined him in the business and together they established Shinault Baker & Company, CPAs. In 2000, Michael passed the Series 7 and Series 66 exams which allowed him to become a broker-dealer and investment advisor in the financial services industry and he founded SBC Financial Services Company.

Michael loved meeting with clients in both businesses. It was important to him to provide quality accounting, tax, and financial advising services but it was just as important that his clients knew that he cared deeply about who they were. As one person said, “I will always cherish my tax appointments with him where we ended up talking more about life than taxes.”

For almost thirty years, martial arts were an integral part of Michael’s life. He was an active member in the International Kokondo Association, having earned the rank of Sandan in karate and Nidan in jujitsu. He was a sensei to many in the local BKA dojo and he was bestowed a special honor by the IKA for his support of the system and for being a great example of what the Association stands for.

Michael passed away somewhat unexpectedly on June 18, 2021, from complications related to his 8-year battle with CLL. He leaves behind a legacy of kindness, patience, encouragement, inspiration, support, humility, forgiveness, integrity, and love. His family is heart broken to lose the rock that was their husband, dad, and papa.

Left to treasure the memories of this very special man are Patrice and his children, Meghan and Josh Lansing, Gregory Shinault and Tasia Raymer, Kristin Shinault and Grant Frick, Katelyn and Dustin Gairrison. His adored grandkids, Jack and Emmy Lansing, Macilyn and Colton Regan. His dad, Dwight Kennedy. Siblings, Melanie Lynn (Bruce, Connor and David), Michelle Shinaullt (Monica McCarthy), Ron Kennedy (Pi Sun). The Shinault Baker family, Gilli families, Kokondo family, and Suorez family.

As he always said to Gregory when dropping him off at the train station or airport after a visit, “I miss you already.”

If you’re a business owner and you hire your child this summer, you can obtain tax breaks and other nontax benefits. You...
06/13/2021

If you’re a business owner and you hire your child this summer, you can obtain tax breaks and other nontax benefits. Your child can gain on-the-job experience, spend time with you, save for college and learn how to manage money. And you may be able to shift your high-taxed income into tax-free or low-taxed income and realize payroll tax savings (depending on the child’s age and how your business is organized). The child may also be able to contribute to a retirement plan. However, in order for your business to deduct the wages as a business expense, the work performed by the child must be legitimate and the child’s salary must be reasonable. Many other rules apply.

UNEMPLOYED LAST YEAR?  BUYING HEALTH INSURANCE THIS YEAR?  YOU MAY BENEFIT FROM FAVORABLE NEW CHANGES.Many people lost t...
04/20/2021

UNEMPLOYED LAST YEAR? BUYING HEALTH INSURANCE THIS YEAR? YOU MAY BENEFIT FROM FAVORABLE NEW CHANGES.
Many people lost their jobs last year due to pandemic shutdowns. Generally, unemployment compensation is included in gross income for federal tax purposes. But thanks to the American Rescue Plan Act (ARPA), enacted on March 11, 2021, up to $10,200 of unemployment compensation can be excluded from federal gross income on 2020 federal returns for taxpayers with an adjusted gross income (AGI) under $150,000. In the case of a joint return, the first $10,200 per spouse isn’t included in gross income, meaning if both spouses lost their jobs and collected unemployment last year, they’re eligible for up to a $20,400 exclusion.

If you’re buying or selling a home, you should know how to determine your basis. The law allows an exclusion from income...
04/13/2021

If you’re buying or selling a home, you should know how to determine your basis. The law allows an exclusion from income for all or part of the gain realized on your home sale. The general exclusion limit is $250,000 ($500,000 for married taxpayers). You want your basis to be as high as possible in order to avoid or reduce the tax you may owe when you sell. Improvements that add to your home’s basis include: a room addition, finishing the basement, a fence, a central air conditioning system, flooring, a new roof and driveway paving. Repairs, rather than improvements, aren’t added to a property’s basis. Repairs include painting, fixing gutters and repairing leaks.

WHO QUALIFIES FOR "HEAD OF HOUSEHOLD" TAX FILING STATUSWhen you file your tax return, you must check one of the followin...
04/06/2021

WHO QUALIFIES FOR "HEAD OF HOUSEHOLD" TAX FILING STATUS
When you file your tax return, you must check one of the following filing statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Who qualifies to file as a head of household, which is more favorable than single? To qualify, you must maintain a household, which for more than half the year, is the principal home of a “qualifying child” or other relative of yours whom you can claim as a dependent (unless you only qualify due to the multiple support rules). You’re considered to “maintain a household” if you live in the home for the tax year and pay over half the cost of running it.

Are you considering buying a vehicle that you’ll use in your business? If you choose a heavy sport utility vehicle (SUV)...
03/30/2021

Are you considering buying a vehicle that you’ll use in your business? If you choose a heavy sport utility vehicle (SUV), you may be able to benefit from lucrative tax rules for those vehicles. New and used heavy SUVs, pickups and vans acquired and put to business use in 2021 are eligible for 100% first-year bonus depreciation. However, you must use the vehicle more than 50% for business. If your business use is between 51% and 99%, you can deduct that percentage of the cost in the first year the vehicle is placed in service. This tax break is available only if the manufacturer’s gross vehicle weight rating is above 6,000 pounds.

Address

4200 Truxtun Avenue, Ste 102
Bakersfield, CA
93309

Opening Hours

Monday 8am - 5:30pm
Tuesday 8am - 5:30pm
Wednesday 8am - 5:30pm
Thursday 8am - 5:30pm
Friday 8am - 5:30pm

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