Blog - Linkenheimer LLP CPAs & Advisors

Self-Employed? Don’t Overlook a Roth IRA

Some small business owners overlook Roth IRAs because they assume their income is too high for them to qualify to make Roth contributions. Others may think their current tax rate is higher than it will be in retirement, making current tax deductions more valuable than future tax-free distributions. However, if you don’t at least consider contributing to a Roth IRA, you may be missing a potentially valuable tax-saving opportunity.

Rules and restrictions

Roth IRA contributions aren’t deductible, but they’re beneficial because you reap tax savings on the back end. (More on that later.) For 2026, the annual contribution limit is $7,500 (up from $7,000 for 2025). If you’ll be 50 or older by the end of the tax year, you can make an additional $1,100 catch-up contribution. The same limits apply to traditional IRAs, and your Roth IRA limit is reduced by any traditional IRA contributions you make for the year.

But your ability to make Roth IRA contributions is phased out if your modified adjusted gross income (MAGI) exceeds certain levels. For 2026, the phaseout ranges are:

$153,000 to $168,000 for single individuals and heads of households, and
$242,000 to $252,000 for married […]

By Linkenheimer LLP|2026-05-26T21:27:39+00:00May 26th, 2026|business, tax, tax planning|0 Comments

Protect Yourself from Fraudsters Impersonating the IRS and Other Tax Scams

Tax scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensitive information or sending money. The IRS warns taxpayers to remain cautious because scammers continually change tactics to steal personal and financial information.

IRS impersonation scams

First and foremost, know that the IRS will never contact you by email, text or social media channels about a tax bill or refund. Most IRS initial communications are sent through regular mail. So if you get a call or message saying it’s the IRS and asking for your Social Security number, it’s someone trying to steal your identity and defraud you. Remember that the IRS already has your Social Security number.

Here are some common impersonation-related schemes to be aware of:

Phone calls. AI-generated voices and spoofed caller IDs to impersonate IRS agents are becoming more common. Scammers may leave urgent messages threatening arrest, penalties or legal action unless immediate payment is made. The IRS stresses that it won’t demand immediate payment over the phone.

Text messages and emails. Scammers use text messages and emails containing fake IRS links or QR […]

By Linkenheimer LLP|2026-05-26T21:25:31+00:00May 26th, 2026|irs, tax, Tech|0 Comments

What You Can Do to Protect Your Business from Rising Costs

For the 12 months ending in April 2026, the U.S. inflation rate was 3.8%, according to the U.S. Bureau of Labor Statistics. Prices for your business’s products, materials and other operating costs may have risen faster in recent months than you anticipated, making planning and forecasting challenging. How can your business counteract inflation? Start by making prudent cost-cutting decisions and acting swiftly when you spot opportunities.

First things first

Given that periods of elevated inflation are typically temporary, it can be tempting to assume inflation rates will fall in a few months. However, movements in inflation rates have been less predictable since the COVID-19 pandemic began. Waiting it out may work for some businesses, but inaction could also eventually lead to more difficult decisions. For example, delaying pricing adjustments could force you to make steeper increases later.

Although it’s always important to monitor expenses, frugal purchasing decisions become even more necessary when prices are rising. If raw material prices jump, consider whether new suppliers might offer discounts. If your cash flow and space can handle it, consider ordering some extra supplies and inventory to help […]

By Linkenheimer LLP|2026-05-22T17:28:13+00:00May 22nd, 2026|business|0 Comments

Why Most Profitable Businesses Still Run Into Cash Problems

A business can be profitable on paper and still struggle to make payroll. That disconnect surprises a lot of owners, but it shouldn’t. Profit and cash are two different things, and they move on two different timelines.

Your income statement says you earned $200K last quarter. But $80K of that is sitting in receivables. You prepaid $40K in inventory. Your quarterly tax estimate is due next week. Suddenly the P&L and the bank account are telling very different stories.

This is the cash flow problem, and it doesn’t discriminate by industry or revenue size. It hits manufacturers waiting 60 days on receivables. It hits wineries carrying inventory for 18 months before a bottle sells. It hits service businesses that staff up for a contract before the first payment arrives.

The real cost isn’t the shortfall itself. It’s the decisions you make because of it.

Without a clear view of where cash is headed, owners default to reactive decisions. They delay a hire they need. They take on a line of credit they could have avoided. They pass on an opportunity because they’re not sure they can cover the next two months. Or worse, they make […]

By Linkenheimer LLP|2026-05-20T21:57:54+00:00May 20th, 2026|Advisor, business|0 Comments

Why a Strong Accounting System Matters More Than Most Business Owners Realize

Most businesses do not struggle because they lack financial statements. They struggle because they lack timely, reliable information they can actually use.

That is the real value of a strong accounting system.

A good accounting system does far more than organize transactions for tax season. It helps business owners and management teams understand cash flow, monitor profitability, identify problems earlier, and make better decisions about pricing, hiring, borrowing, and growth. It supports running the business — not just recording it.

When the accounting function is weak, the symptoms are familiar. Month-end closes take too long. Cash flow surprises keep happening. Systems do not connect cleanly. Reports arrive too late to be useful. Leaders end up making important decisions based on incomplete or outdated information. That is not just an accounting issue. It is a business risk.

A stronger system changes that. It brings together the right people, processes, and technology to produce clear reporting and practical insight. That can include timely monthly closes, consistent reconciliations, integrated applications, KPI dashboards, forecasting, and higher-level support that helps management understand what the numbers are actually saying.

This shift is one reason client advisory services, or “CAS”, offered by CPA […]

By Linkenheimer LLP|2026-04-24T12:16:53+00:00April 24th, 2026|accounting, Advisor, business|0 Comments