@baldridgecpa ISSUE 40 Senate Passes "Big Beautiful Bill" in dramatic 51-50 vote After a record-breaking 24+ hour vote-a-rama, the Senate passed the Big Beautiful Bill on Tuesday morning in a 51-50 vote, with Vice President JD Vance casting the tie-breaking vote. Three Republicans broke ranks – Senators Rand Paul, Thom Tillis, and Susan Collins voted against the bill, creating the dramatic tie that required the Vice President's intervention. The marathon session set a Senate record with 45...
3 days ago • 3 min read
@baldridgecpa ISSUE 39 Tax Saving Estate Planning Strategies It's not how much money you make, it's how much money you get to keep. And if the Big Beautiful Bill passes as planned, keeping more of your hard earned money gets a massive upgrade—especially when it comes to transferring wealth to family. Estate Tax Exemption Jumps to $15 Million Remember when everyone was panicking about the estate tax exemption dropping back to $5-7 million in 2026? That's dead. The new bill would increase the...
8 days ago • 4 min read
@baldridgecpa ISSUE 38 Breaking Down the Senate's "Big Beautiful Bill" The Senate just dropped their version of the Big Beautiful Bill, and it contains major wins for business owners. While this version still needs to go through reconciliation with the House bill, there are key provisions that are worth reviewing. Let's look at what's on the table and what it could mean for your tax strategy. 100% Bonus Depreciation: Back and PERMANENT This is huge. While the House bill included a phase-out...
18 days ago • 1 min read
@baldridgecpa ISSUE 37 What Every Real Estate Investor Gets Wrong About Depreciation Most real estate investors I meet are bleeding money when it comes to depreciation. They're using the wrong methods, not taking advantage of accelerated strategies, or worse—letting their CPAs default to the "safe" approach. It all adds up to tens or even hundreds of thousands in overpaid taxes. Here's the deal: If you want to stop handing extra cash to the IRS and start keeping more of what you earn from...
23 days ago • 3 min read
@baldridgecpa ISSUE 36 How to Calculate Your Quarterly Taxes Nothing ruins a good quarter like a surprise tax bill. The U.S. tax system runs on a "pay-as-you-go" model. While W-2 employees have taxes withheld automatically from each paycheck, business owners have to manage this themselves through quarterly payments. Miss a payment or underpay, and the IRS hits you with penalties—even if you're owed a refund later. They don't wait for tax season to collect. And don't forget: Most states...
29 days ago • 3 min read
@baldridgecpa ISSUE 35 Have You considered your Return On HassLe? I've spent my career as a CPA advising hundreds of multi-millionaires. But no matter how these folks have created wealth, they all have one thing in common. These successful people don't only think in terms of ROI (Return on Investment) but also ROH (Return on Hassle). Return on Hassle is the amount of money you will save or earn divided by the time, money, and brain damage that it takes to get there. Sahil Bloom's excellent...
about 1 month ago • 3 min read
@baldridgecpa ISSUE 34 "One Big Beautiful Bill" Tax Case Study While the final version of the "One Big Beautiful Bill" that is making its way through Congress may differ from what we're seeing today, there is value in understanding the potential impact on your taxes. This is not a prediction—simply a practical look at how these proposed changes might affect businesses if enacted as written today. Let's dive into the numbers. Meet Michael, an S-Corp Owner Michael owns a precision manufacturing...
about 1 month ago • 2 min read
@baldridgecpa ISSUE 33 The Return of 100% Bonus Depreciation (and more tax news) The #1 question business owners have been asking me is finally answered: "When is bonus depreciation going back to 100%?" The House Ways & Means Committee has released its amendments to the 'One Big Beautiful Bill', and bonus depreciation is back! What do real estate investors & business owners need to know? 100% Bonus Depreciation through 2029 with No Phase-Down Period: The committee's amendments extend 100%...
about 2 months ago • 3 min read
@baldridgecpa ISSUE 32 Introducing OUR S-Corp Tax Savings Calculator Today, we're excited to announce a powerful new tool from the team at Better Bookkeeping. Our new S-Corp Tax Savings Calculator shows you in seconds how much you could be saving in taxes by structuring your business as an S-Corp. Here's how it works: Enter your annual business profit Input a "reasonable salary" for your role Share a bit about your business and personal tax picture Instantly see your potential annual tax...
about 2 months ago • 2 min read