It’s time to stop wondering
Tired of simply wondering if you are doing your tax returns right? Whether it’s a small business, personal, or enterprise tax returns, Baxter CPA can help!
Matt Baxter, CPA, specializes in tax compliance, planning and consulting, and has worked with a diverse range of small and medium sized businesses — as well as large corporations like Walmart Stores, Inc.
As a business grows, so do tax complications. When you work with Baxter CPA, you can rest easy. We anticipate what our clients will need down the road and develop long-term strategies, so there are no surprises.
Frequently Asked Tax Questions
When you make gifts to customers, the gifts are deductible up to $25 per recipient per year. For purposes of the $25 limit, you need not include “incidental” costs that don’t substantially add to the gift’s value, such as engraving, gift-wrapping, packaging or shipping. Also excluded from the $25 limit is branded marketing collateral — such as pens or stress balls imprinted with your company’s name and logo — provided they’re widely distributed and cost less than $4.
Holiday parties are fully deductible (and excludable from recipients’ income) provided they’re primarily for the benefit of non-highly-compensated employees and their families. If customers also attend, holiday parties may be partially deductible.
The Tax Cuts and Jobs Act (TCJA) of 2018 has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end of the tax year.
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