Williams CPA & Associates

07/10/2025

07/10/2025

💼 Big Change for Employees Working Overtime! 💼

The recently passed One Big Beautiful Bill includes a major win for employees who regularly work overtime or earn tips.

👉 Starting January 1, 2025, employees can deduct up to $12,500 (or $25,000 for married couples filing jointly) of qualifying overtime and tip income on their federal tax returns.

A few things to know:
• This is a federal income tax deduction — not a tax credit, and not something that increases your paycheck now.
• Payroll taxes like Social Security and Medicare still apply.
• You’ll see the benefit when you file your 1040, not in each paycheck.
• Employers (like us) will ensure your W-2 reports the right info — so you don’t have to track it manually.

🙋‍♂️ Owners of S Corps or partners in a business are not eligible for this deduction — it applies only to qualifying W-2 employees.

We’ll keep clients updated as the IRS releases further guidance and ensure our payroll systems reflect the new rules.

Questions about how this affects your business or employees? Drop a comment or message us directly — we’re happy to help.

07/04/2025

Chasing Bottom Line vs. Building Margin: A Common Mistake That Kills Profitability

Too many business owners fall into the trap of chasing a bottom-line number they want to see—“I need to make $X this year”—without understanding what it really takes to get there.

They’ll slash prices, overextend capacity, or take on low-margin work just to hit a top-line goal… and then wonder why the business feels broke, burnt out, and off balance.

Here’s the truth:
👉 Chasing bottom line without protecting margin is a recipe for exhaustion.
👉 It creates cash flow issues, devalues your work, and stalls growth.
👉 It’s possible to hit your revenue goal—and still lose money.

Instead, build from margin. When you prioritize margin:
• You protect your profitability.
• You attract better clients and customers.
• You gain freedom, flexibility, and long-term value.

💡 Target margin and the right bottom line will follow. Target the bottom line without margin, and you may hit a number—but at the cost of your business health.

If you’re running a business right now, ask yourself:

Are you chasing a dollar amount, or are you building a healthy, margin-driven company?

Let’s stop glorifying “revenue at all costs” and start building smarter.

07/04/2025

🇺🇸 Happy Independence Day!
Today, we celebrate freedom, family, and the great spirit of this country. Stay safe, have fun, and let freedom ring! 🎆🎇

07/03/2025

If you’re thinking about helping a child or grandchild pay for school, you’re not alone, and you’re not without help. While families have always saved for education, Section 529 plans have made it easier and more tax-efficient.

If you’re thinking about helping a child or grandchild pay for school, you’re not alone, and you’re not without help. While families have always saved for education, Section 529 plans have made it easier and more tax-efficient. Tax Advantages With a 529 plan, your contributions grow tax-deferr...

01/01/2025

We hope that 2025 bring you an abundance of joy, opportunity, and prosperity. From all of us here, we wish you a happy new year!

12/31/2024

During the holiday giving season, keep the following tax limits in mind. Your business can deduct only up to $25 per person per year for gifts to recipients such as clients and business partners. You can also generally deduct $25 per person per year for employee gifts.

During the holiday giving season, keep the following tax limits in mind. Your business can deduct only up to $25 per person per year for gifts to recipients such as clients and business partners. You can also generally deduct $25 per person per year for employee gifts. If gifts to employees are infr...

12/30/2024

As the end of the year approaches, many people give more thought to supporting charities they favor. To avoid losing valuable charitable deductions if you itemize, you’ll need specific documentation, depending on the type and size of your gift. Here’s a breakdown of the rules...

As the end of the year approaches, many people give more thought to supporting charities they favor. To avoid losing valuable charitable deductions if you itemize, you’ll need specific documentation, depending on the type and size of your gift. Here’s a breakdown of the rules: Cash gifts under $...

12/28/2024

A cost segregation study allows a business property owner to accelerate depreciation deductions. That, in turn, enables the owner to reduce current taxable income and increase cash flow.

A cost segregation study allows a business property owner to accelerate depreciation deductions. That, in turn, enables the owner to reduce current taxable income and increase cash flow. A cost segregation study combines accounting and engineering techniques to identify building costs that are prope...

12/27/2024

Having won control of the White House, the Senate and the House of Representatives, Republicans will have the opportunity to move forward their vision for federal taxes. What might this mean?

Having won control of the White House, the Senate and the House of Representatives, Republicans will have the opportunity to move forward their vision for federal taxes. What might this mean? First, many provisions in President-Elect Donald Trump’s signature tax legislation from his first time in ...

12/25/2024

From all of us, we are so grateful for each one of our amazing clients! Thank you for making this year so successful and putting your trust in us. We wish you all a joyous holiday season and a very prosperous New Year!

11/28/2024

From all of us here at Williams CPA & Associates, we hope you have an amazing and blessed Thanksgiving Day!