Barton Walter & Krier, P.C. - CPAs

Barton Walter & Krier, P.C. - CPAs CPAs & Business Advisors providing premier tax, accounting, and advisory services. Tax Preparation Service

Using social media platforms is a quick and easy way to glean tax-related information and advice. However, it can be dif...
06/19/2026

Using social media platforms is a quick and easy way to glean tax-related information and advice. However, it can be difficult to gauge the accuracy of the information available online. Our firm is one source of trusted information. Another is the IRS. Consider following its official social media accounts (https://bit.ly/4dVN1KP ) and subscribing to its e-News subscription service. Among other things, subscribers can opt to receive IRS Tax Tips that are written in plain language on a range of general interest tax topics. If you’re a small business owner or a self-employed individual, the IRS offers e-News for small businesses. For more information: https://bit.ly/3Q8ARWY

Self-employed individuals often miss legitimate tax savings because they fail to keep adequate records or misunderstand ...
06/17/2026

Self-employed individuals often miss legitimate tax savings because they fail to keep adequate records or misunderstand the rules. Don’t let this happen to you.

Follow this golden rule: Business expenses must be ordinary (common in your industry) and necessary (helpful and appropriate for the business). Of course, you can deduct supplies, materials, and employee payroll and benefits. But don’t overlook other deductible costs — such as for your home office, education, business meals and travel, and business vehicles.

We can help you identify qualifying business expense deductions and establish recordkeeping practices that support them. Contact us to learn more.

Are you considering making gifts during your lifetime or bequests at death to loved ones two generations or more below y...
06/12/2026

Are you considering making gifts during your lifetime or bequests at death to loved ones two generations or more below you? If so, beware of the generation-skipping transfer (GST) tax. It ensures that large estates can’t bypass a round of taxation that would normally apply if assets were transferred from parent to child and then from child to grandchild. The GST tax generally applies at a flat 40% rate — in addition to otherwise applicable gift or estate taxes — to transfers that skip a generation. The GST tax exemption ($15 million for 2026) can be a valuable tax-saving tool if you have a large estate and your children also have (or may eventually have) large estates. Contact us for details.

If you’re covered by a high-deductible health plan (HDHP), you can contribute pretax income to a Health Savings Account ...
06/09/2026

If you’re covered by a high-deductible health plan (HDHP), you can contribute pretax income to a Health Savings Account (HSA). Funds can be withdrawn tax-free to pay qualified medical expenses. The IRS annually adjusts various HSA and HDHP limits for inflation. For 2027, the maximum HSA contribution amount will be $4,500 for individuals (vs. $4,400 for 2026) and $9,000 for family coverage (vs. $8,750 for 2026). The minimum HDHP deductible will be $1,750 for individuals (vs. $1,700 for 2026) and $3,500 for family coverage (vs. $3,400 for 2026). The maximum HDHP out-of-pocket cost will be $8,700 for individuals (vs. $8,500 for 2026) and $17,400 for family coverage (vs. $17,000 for 2026). For more information, contact us.

Please join us in welcoming Jeff Lyon to BWK as our new Senior Manager of Accounting!As BWK continues to grow, we are ex...
06/05/2026

Please join us in welcoming Jeff Lyon to BWK as our new Senior Manager of Accounting!

As BWK continues to grow, we are excited to add another talented leader to our team. Jeff brings extensive accounting expertise, leadership experience, and a commitment to client service that aligns perfectly with our firm's values.

We are thrilled to have Jeff join BWK and look forward to the impact he will make for our clients and our team.
Welcome to BWK, Jeff!

Reminder for Americans living and working abroad: Your 2025 federal income tax return is due by June 15. Taxpayers whose...
06/01/2026

Reminder for Americans living and working abroad: Your 2025 federal income tax return is due by June 15. Taxpayers whose tax home and main place of business are outside of the United States and Puerto Rico generally get an automatic two-month extension to file their return. But interest is charged on any tax that wasn’t paid by April 15, 2026. All worldwide income must be reported, including wages, self‑employment income and unearned income. Need more time to file? You can request an additional extension — however, beware of penalties and interest that may accrue on unpaid 2025 taxes. Contact us for guidance.

For 2026, the federal gift and estate tax exemption is $15 million — effectively $30 million for a married couple. “Port...
05/29/2026

For 2026, the federal gift and estate tax exemption is $15 million — effectively $30 million for a married couple. “Portability” allows any unused portion of a deceased spouse’s exemption to be transferred to the surviving spouse. But it isn’t automatic. The executor must timely file a properly completed estate tax return. Even if no estate tax is due on the first spouse’s death and it doesn’t look like the surviving spouse’s estate will exceed the exemption, making the portability election is a good idea. Doing so can help protect the survivor’s estate from estate taxes if he or she enjoys an unexpected windfall or if tax law changes reduce the exemption. For more information, contact us.

On Memorial Day, we remember those who made the ultimate sacrifice in defense of our freedom. Today, we honor their cour...
05/25/2026

On Memorial Day, we remember those who made the ultimate sacrifice in defense of our freedom. Today, we honor their courage, their service, and their legacy.

From all of us at Barton Walter & Krier CPAs, we remember and give thanks.

If you’re thinking about relocating, don’t choose a new state based only on climate, cost of living or proximity to fami...
05/19/2026

If you’re thinking about relocating, don’t choose a new state based only on climate, cost of living or proximity to family. Also review the tax implications.

For example, some states don’t have a personal income tax, and some that do have one offer tax breaks for pension payments, retirement plan distributions and Social Security payments. Also be aware that a state with no personal income tax may impose high property, sales or estate taxes.

Before making a move, contact us to review the potential income, property, sales and estate tax implications. We can help you minimize potential negative tax consequences and make the most of any tax advantages offered by the new state.

If you receive a letter from the IRS, don’t discard it! Most IRS letters or notices relate to federal tax returns or tax...
05/18/2026

If you receive a letter from the IRS, don’t discard it! Most IRS letters or notices relate to federal tax returns or tax accounts. A letter may reference changes to your account, taxes owed, a payment request, or a specific issue or credit on a tax return. You don’t need to respond unless the notice specifically instructs you to do so, but keep a copy for your records. If you need to call the IRS, use the number in the upper right corner of the notice and have the letter and a copy of your tax return on hand. If you have questions, contact us. We can help you understand the notice and determine whether any action is needed. For more information from the IRS: https://bit.ly/4nv6ZQJ

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