Baxter CPA

12/19/2025

Three years in a row! THANK YOU!

07/10/2025

Just so Tax Professionals don't get too bored, the President has signed into law a new robust tax bill. We have a synopsis below of some of the provisions. Some are a continuation of current policy, but there are some new (and updated) provisions that have a significant tax impact.

https://baxter.cpa/president-trump-signs-his-one-big-beautiful-bill-act-into-law

On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). As promised, the tax portion of the 870-page bill extends many of the provisions of the Tax Cuts and Jobs Act (TCJA), the sweeping tax legislation enacted during the first Trump...

11/19/2024

Reminder on BOI Reporting. Don't forget! Be sure to contact your attorney if you need assistance with filing. Since the filing is consider legal services your CPA is not able to file these on your behalf, but we can assist with understanding what is required.

The new corporate transparency reporting rules are complex, but failing to comply with them can be costly to businesses.

01/23/2024

Lots of conversations about BOI (Beneficial Ownership Information) Reporting. It is important and required for most entities. Read below for requirements and due dates for filing. The penalties are STEEP for non-compliance. In addition, based on guidance from the AICPA, we currently are unable to file BOI reports on your behalf.

The new corporate transparency reporting rules are complex, but failing to comply with them can be costly to businesses.

12/06/2023

Thank you for your votes NWA!! What an honor.

07/27/2023

As we watch land become more scarce and significant appreciation build up, it's vital to take advantage of tax entity planning for your development.

There may be a way to reduce a large tax bill if you own appreciated land that you want to subdivide and develop for sale. Here’s a three-step strategy.

01/04/2023

The Consolidated Appropriations Act passed at the end of 2022 contains some enhances to retirement savings and stricter rules for Conservation Easements. Many much needed changes you can read about below!

Tucked into the Consolidated Appropriations Act of 2023 is a package of enhanced retirement benefits, otherwise known as the SECURE 2.0 Act. Here are some of the provisions.

08/16/2022

Although the name of this bill seems more like wordplay, the Inflation Reduction Act contains some significant spending and tax measures. Some being, $80 billion funding for the IRS, an extension of excess business losses and a new tax credit for purchasing a used electric vehicle.

The Inflation Reduction Act is about to become law. Learn how its tax provisions might affect you.

07/21/2022

Bonus Depreciation is set to start it’s phase out after 12/31 of this year, moving to 80% for 2023 (sun setting in 2027). Examine what moves you may need to make! Read more here on how to take advantage of this opportunity.

If you plan on purchasing bonus depreciation qualifying property, it may be wise to do so and place it in service before year end to maximize your options.

02/01/2022

It is hard to believe that it has been two years since we had a predictable tax calendar, BUT here's to hoping for 2022. See our blog post below to see the important tax dates for 2022. Cheers!

To help you make sure you don’t miss any important 2022 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them....

11/22/2021

Seems like there are always looming tax bills as we encounter the Holidays. This year is no different. We reviewed the House Version of the BBBA (Build Back Better Act) that passed the house last week and below is a summary of the tax proposals. The Senate will certainly make changes to the Bill, but here is how it stands today.

The Build Back Better Act is one step closer to becoming law as it passes the U.S. House.

07/12/2021

The IRS is going to start sending out the Advance Child Tax Credits this week. This program is sending you credits in advance that you have historical received on your tax return. That said, if you rely on these credits to offset your taxes then you need to opt out so you don't get hit with a big tax bill in April.

Read more on these advance credits and how to opt out below.

If you have children age 17 or under, it’s critical to understand the recent changes made to the child tax credit.