Blog - Linkenheimer LLP CPAs & Advisors

Honored to Announce That Linkenheimer LLP Has Been Named a CalCPA Firm of the Year Finalist!

We’re honored and proud to share that Linkenheimer has been recognized as a finalist for the prestigious CalCPA Firm of the Year award, alongside eight other outstanding CPA firms! We thoroughly enjoyed our time in LA at the CalCPA conference, learning from other firms, networking, and being reminded of the incredible impact our profession can have.

Thank you to CalCPA for this recognition and for championing firms that prioritize both professional excellence and community impact. We’re proud to be part of an organization that celebrates not just what we do, but why we do it.

This recognition belongs to our amazing team, whose hard work, humor, and heart turn even the toughest tax seasons into moments of pride and connection. It reflects what happens when you bring together talented people who believe that accounting is about more than numbers—it’s about making a meaningful difference in our clients’ lives and our community.

Congratulations to all of this year’s finalists. Our profession and communities are stronger because of firms like yours!

By Linkenheimer LLP|2025-08-05T14:39:32+00:00August 5th, 2025|award|0 Comments

A Closer Look: The QBI Deduction and What’s New in the One, Big, Beautiful Bill Act

The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows eligible taxpayers to deduct up to 20% of QBI, not to exceed 20% of taxable income. It can also be claimed for up to 20% of income from qualified real estate investment trust dividends.

With recent changes under the One, Big, Beautiful Bill Act (OBBBA), this powerful deduction is becoming more accessible and beneficial. Most important, the OBBBA makes the QBI deduction permanent. It had been scheduled to end on December 31, 2025.

A closer look

QBI is generally defined as the net amount of qualified income, gain, deduction and loss from a qualified U.S. trade or business. Taxpayers eligible for the deduction include sole proprietors and owners of pass-through entities, such as partnerships, S corporations and limited liability companies that are treated as sole proprietorships, partnerships or S corporations for tax purposes. C corporations aren’t eligible.

Additional limits on the deduction gradually phase in if 2025 taxable income exceeds the applicable threshold — $197,300 or $394,600 for married couples filing joint tax returns. The limits fully apply when 2025 taxable income exceeds $247,300 […]

By Linkenheimer LLP|2025-08-05T14:15:17+00:00August 5th, 2025|business, deduction, deductions, New Tax Laws, News|0 Comments

Tax Court Denies Charitable Contribution Deduction for Lack of Substantiation

Why Your Charitable Receipts Need More Than Just a Signature

When was the last time you actually read the receipt from that donation drop-off? If you’re like most folks, you probably grabbed it and called it a day. Well, John Henry Besaw’s recent Tax Court case (TC Summary Opinion 2025-7) might make you think twice about that approach.

Besaw claimed $6,760 in noncash charitable contributions on his 2019 return, attaching Form 8283 with donee names and general descriptions – but crucially, no dates or values for the donated items. When the IRS disallowed the deduction for insufficient substantiation, Besaw scrambled. He provided receipts, but they were blank regarding specific item descriptions and values. He even submitted non-contemporaneous “reconstructed” documents detailing his donations. Special Trial Judge Leyden wasn’t impressed, noting that Treasury Regulation 1.170A-13 mandates receipts must include “a reasonably sufficient description of the donated property.” The Court ruled in favor of the IRS, upholding the disallowance of the entire deduction (though Besaw dodged accuracy-related penalties under IRC Section 6662(a) – small victories, right?).

How to Stay Out of Trouble

Finish […]

By Linkenheimer LLP|2025-07-29T16:12:52+00:00July 29th, 2025|charity, deduction, deductions|0 Comments

Linkenheimer is Excited to Announce Anya Cunningham as the Firm’s Newest Partner

Linkenheimer LLP is proud to announce the promotion of Anya Cunningham to Partner. Since launching her public‑accounting career in 2007 and joining our firm in 2012, Anya has guided closely held businesses in manufacturing, construction, agriculture, distribution, and professional services through critical moments—business transitions, capital planning, financial modeling, and succession strategy. A co‑founder of the North Bay Trusted Business Academy, she is passionate about equipping entrepreneurs with holistic education and advisory support. Looking ahead, Anya sees AI and automation “taking over more routine compliance work,” freeing CPAs to deliver the real‑time insights and proactive planning clients will demand over the next five years.

Anya’s “secret sauce” is intentional listening: understanding each client’s goals, pressures, and aspirations before diving into technical solutions. She believes the profession’s future hinges on pattern recognition—spotting trends in numbers, industries, and people early enough to turn risks into opportunity. “We’re not just scorekeepers,” she says, echoing how she explained a CPA’s value to her soccer‑loving 10‑year‑old son: “We help people win the game.” Known for owning mistakes quickly and turning them into learning moments, Anya will foster a culture of […]

By Linkenheimer LLP|2025-07-29T13:12:48+00:00July 29th, 2025|firm, News|0 Comments

Is Your Business Really Worth What You Think It Is?

Many business owners have a number in mind when it comes to what their company is worth. But in practice, that number is often based on informal assumptions rather than objective analysis and in some cases, the actual value can be far lower (or higher) than expected.

Understanding what truly drives business value and how to influence it over time isn’t just important for exit planning. It’s a strategic lens for managing risk, improving resilience, and preserving long-term financial flexibility.

What Really Drives Business Value

Business value isn’t determined by what you’ve invested, how hard you’ve worked, or what a similar company sold for. It’s based on what a qualified, informed buyer would pay today driven by how your business performs, grows, and transfers.

While every business is different, value generally depends on three fundamentals:

Earnings – Is the business profitable and stable?
Growth potential – Can those profits scale sustainably?
Risk – How confident is a buyer that the performance will continue without disruption?

These factors shape what’s known as your valuation multiple, the multiplier applied to earnings to determine value. Two businesses with identical profits can command very different prices depending on their operational maturity, […]

By Linkenheimer LLP|2025-07-28T17:02:10+00:00July 25th, 2025|Advisor, business valuation|0 Comments