W CPA Group

Being prepared for disasters is always important. But the IRS warns that you should also be on the alert for an uptick in scams aimed both at survivors and those who donate to help them. Scammers often sweep in after a disaster to solicit donations. They may pose as employees of federal agencies or legitimate charities. In many cases, they ask for donations by gift cards, cash or wire transfers. Scammers may also set up bogus websites with names similar to real charities and make false claims that your donations are tax-deductible. Contact us at (559) 256-5600 with questions about charitable gifts. Use the IRS's Tax Exempt Organization Search tool to verify a charity’s status and learn more details here: https://bit.ly/4pgYYiS

What a few weeks it's been! 🎉 We had the absolute pleasure of hosting a fantastic office tour for the Beta Alpha Psi chapter at Fresno State! We were thrilled by the great turnout and the chance to meet so many bright, eager students. The excitement continued right into the "Meet the Firms" event. It's truly an honor to connect with the next generation of talent from Fresno State. Thanks to everyone who came out! #FresnoState #BAP #bapfresno #MeetTheFirms #Networking #CarrerOpportunities #Business #Internship #ProfessionalGrowth #Accounting #FresnoAccountant

What an inspiring afternoon! ✨ Our team was honored to attend the 42nd Annual Top Ten Professional Women’s Awards presented by the Marjaree Mason Center. We were left feeling encouraged, hopeful, and motivated by the incredible women who shared their hearts and their mission. The consistent message was clear: reach out to our community, bridge the gap, and serve the underserved. A huge, heartfelt shout out to the truly inspiring Rachel Baskin. Thank you for showing up, being vulnerable, and sharing your authentic story. You are an inspiration! 💫

You may want to offer employees a retirement savings plan, but they can be expensive and complex. What’s a small business owner to do? Consider a simplified employee pension (SEP). They’re easy to set up and administer. Requirements are minimal: All workers must be eligible to participate, and your contributions can’t discriminate in favor of highly compensated employees. In 2025, you can contribute up to $70,000 (or up to 25% of compensation) to a worker’s SEP account and deduct the contributions. Contact us at (559) 256-5600 for details about this and other retirement plan options.

The One Big Beautiful Bill Act permanently increases the federal gift and estate tax exemption amount to $15 million ($30 million for married couples) beginning in 2026. The amount will continue to be adjusted annually for inflation. The estate tax rate remains at 40%, and the generation-skipping transfer (GST) tax exemption will match the increased estate and gift tax exemption. If your estate exceeds, or is expected to exceed, the exemption amount, implement planning techniques today that can help you reduce or avoid gift and estate taxes in the future. Contact us at (559) 256-5600 for assistance.

Your business can claim a tax credit for qualified expenses paid or incurred when providing child care for employees. Beginning in 2026, the One Big Beautiful Bill Act increases the percentage of qualified expenses that can be taken into account for purposes of claiming the employer-provided child care credit. It also increases the maximum credit. Contact us at (559) 256-5600 with questions.

Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the One, Big, Beautiful Bill Act (OBBBA), the tax break got better for some parents. For 2025, the maximum adoption credit is $17,280 of qualified expenses, with phaseouts for higher-income parents. Under prior law, the credit was nonrefundable, meaning that it was limited to the taxpayer’s federal tax liability. However, under the OBBBA, up to $5,000 of the adoption credit is refundable, starting in 2025. After 2025, the refundable amount will be indexed for inflation. Any nonrefundable amount can be carried forward. There may also be state tax benefits. Questions? Contact us at (559) 256-5600.

In many respects, estate planning for single parents is similar to estate planning for families with two parents. Single parents want to provide for their children’s care and financial needs after they’re gone. But when only one parent is involved, certain aspects of an estate plan demand special attention. One example is selecting an appropriate guardian. What if you become incapacitated or die suddenly and the other parent is unavailable to take custody of your children? Does your estate plan designate a suitable, willing guardian to care for them? Contact us at (559) 256-5600 for assistance.