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
Are holiday gifts for employees or customers tax-deductible?
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.
Are holiday parties tax deductible?
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.
When should I buy business assets?
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.
Recent Articles on Tax Strategy
2863 N. Old Missouri Road
Fayetteville, AR 72703
Schedule Your Mid-Year Tax Review Now
Don’t wait until December to think about your taxes!