News - Linkenheimer LLP CPAs & Advisors

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

California SB 132 Extends the Pass-Through Entity Elective Tax — and Changes the Rules

On June 27, 2025, Governor Newsom signed Senate Bill 132 (the 2025-26 budget trailer bill) into law. The measure delivers several tax changes, but the headline for S-corporations, partnerships, and LLCs is a five-year extension — with new twists — for California’s Pass-Through Entity Elective Tax (PTE).

PTE Quick Refresher: The Pass-Through Entity Tax lets your S-corp, partnership, or LLC pay California tax at the entity level. Why does this matter? It converts state income taxes (limited by the federal SALT cap) into a fully deductible business expense at the federal level. With the federal SALT cap temporarily raised to $40,000 (for most taxpayers) through 2029, then reverting to $10,000 in 2030, the PTE election remains a valuable planning tool — especially for owners with significant state tax liabilities.

What SB 132 Means for Pass-Through Owners

PTE election extended through 2030: Qualifying entities may continue making the California PTE election for tax years 2026–2030, preserving valuable federal tax benefits for owners regardless of federal SALT cap changes.

June 15 prepayment no longer “all-or-nothing”: Missing or underpaying the mid-June deposit will not disqualify your election after 2025. Instead, each owner’s PTE credit gets reduced by 12.5% of any shortfall. Translation? […]

By Linkenheimer LLP|2025-07-18T22:02:29+00:00July 18th, 2025|ca, CA tax, california, New Tax Laws, News, pte|0 Comments

The One Big Beautiful Bill: What It Means for You (and Your Business)

Congress just gift-wrapped a 1,000-plus-page “One Big Beautiful Bill Act” (yes, that’s the real name) and sent it to President Trump for signature on July 4th (because nothing says “patriotic” like a 900-plus-page tax law.). Fireworks ensued, literally and legislatively. Below is the quick-and-casual download on the provisions our clients are most likely to feel—whether you’re filing as an individual, running a business, or both.

Key Changes for Individuals

Bigger, permanent standard deduction and TCJA-era brackets – Beginning in 2026, the deduction rises to $15,750 (single) and $31,500 (joint) while today’s lower rates stick around. Most filers will see more income sheltered from tax without having to itemize.
SALT cap balloons to $40,000 for 2025-2029 – High-tax-state residents can deduct up to four times more in property and state income taxes for five years. Plan to prepay or “bunch” taxes during this window to maximize savings before the cap snaps back.
New $6,000 “senior deduction” (ages 65+) – Available 2025-2028 on top of the standard deduction. Retirees may owe less federal tax even if their income stays level.
Child Tax Credit increases to $2,200 and is indexed for inflation – With the refundable portion […]

By Linkenheimer LLP|2025-07-15T19:02:52+00:00July 14th, 2025|new tax, News, tcja|0 Comments

5 Tax Breaks on the Table: What Business Owners Should Know About the Latest Proposals

A bill in Congress — dubbed The One, Big, Beautiful Bill — could significantly reshape several federal business tax breaks. While the proposed legislation is still under debate, it’s already sparking attention across business communities.

Here’s a look at the current rules and proposed changes for five key tax provisions and what they could mean for your business.

1. Bonus depreciation

Current rules: Businesses can deduct 40% of the cost of eligible new and used equipment in the year it’s placed in service. (In 2026, this will drop to 20%, eventually phasing out entirely by 2027.)

Proposed change: The bill would restore 100% bonus depreciation retroactively for property acquired after January 19, 2025, and extend it through 2029. This would be a major win for businesses looking to invest in equipment, machinery and certain software.

Why it matters: A full deduction in the year of purchase would allow for faster depreciation, freeing up cash flow. This could be especially beneficial for capital-intensive industries.

2. Section 179 expensing

Current rules: Businesses can “expense” up to $1.25 million of qualified asset purchases in 2025, with a phaseout beginning at $3.13 million. Under Section 179, businesses can deduct the cost of qualifying […]

By Linkenheimer LLP|2025-06-14T15:15:46+00:00June 14th, 2025|business, deduction, depreciation, New Tax Laws, News, research credit, tax cuts|0 Comments

Tax Breaks in 2025 and How The One, Big, Beautiful Bill Could Change Them

The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes to individual tax provisions. While the bill is now being considered by the Senate, it’s important to understand how the proposals could alter key tax breaks.

Curious about how the bill might affect you? Here are seven current tax provisions and how they could change under the bill.

Standard deduction

The Tax Cuts and Jobs Act nearly doubled the standard deduction. For the 2025 tax year, the standard deduction has been adjusted for inflation as follows:

$15,000 for single filers,
$30,000 for married couples filing jointly, and
$22,500 for heads of household.

Under current law, the increased standard deduction is set to expire after 2025. The One, Big, Beautiful Bill would make it permanent. Additionally, for tax years 2025 through 2028, it proposes an increase of $1,000 for single filers, $2,000 for married couples filing jointly and $1,500 for heads of households.

Child Tax Credit (CTC)

Currently, the CTC stands at $2,000 per qualifying child but it’s scheduled to drop to $1,000 after 2025. The bill increases the CTC to $2,500 for […]

By Linkenheimer LLP|2025-06-14T15:04:56+00:00June 14th, 2025|2025, News, tax cuts|0 Comments