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Harris CPAs LLC

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United States
Springdale, AR
Harris CPAs LLC

CPA firm offering Tax, Accounting, Payroll, Audits, Compilations, Reviews, and Advisory Services.

01/12/2026

Creating a well-thought-out estate plan can significantly reduce current and future tax liability. Incorporating strategies such as gifting assets during your lifetime, placing appreciating assets in trusts and ensuring proper beneficiary designations can help minimize taxes for you and your family. Contact us at (479) 361-2201. We can review your plan to ensure you’re using the most tax-efficient tools to protect your wealth and pass it on according to your wishes.

01/09/2026

Legislation in 2025 made 100% bonus depreciation permanent for businesses that purchase and place into service qualified new or used property after Jan. 19, 2025. However, when you file your 2025 income tax return, you can choose to use the old 40% bonus depreciation rate. Why would you do this? You may want to save more tax in 2025 than you would following normal depreciation but preserve some deductions for the future. For example, if you anticipate being in a higher tax bracket in 2026, deductions will be more valuable. Another reason is to prevent large net operating losses, which 100% bonus depreciation can create. Call us at (479) 361-2201 for help determining which tax breaks will be most beneficial to claim on your 2025 return and which ones might make sense to forgo.

01/07/2026

Business owners are widely (and quite rightly) advised to regularly engage in detailed strategic planning. But a common problem is that the details can pile up quickly, leaving owners feeling overwhelmed and uncertain. The solution: Follow a methodical, step-by-step approach that enables you to chart an adaptable and profitable course into the future. Contact us at (479) 361-2201 for help designing or refining your business’s strategic planning process.

01/06/2026

If you’re a nonresident alien (that is, you’re neither a U.S. citizen nor a U.S. resident) but you live part of the year in the U.S. and own property here, there’s good news and bad news in regard to estate tax law. The good news is that you’re subject to U.S. gift and estate taxes only on property that’s “situated” in the U.S. Also, you can take advantage of the $19,000 gift tax annual exclusion. The bad news is that your estate tax exemption drops from $13.99 million to a minuscule $60,000. So substantial U.S. property holdings can result in a big estate tax bill. Contact us at (479) 361-2201 for more information.

01/05/2026

If you itemize deductions, you may be able to claim the medical expense deduction to the extent your eligible expenses exceed 7.5% of your adjusted gross income. This floor can be difficult to exceed, but “bunching” expenses into a single year instead of spreading them over two years can help. Of course, health comes first, so don’t delay essential care just to save taxes. Contact us at (479) 361-2201 to discuss whether a bunching strategy could make sense for you.

01/02/2026

For 2026, the federal gift and estate tax exemption increases to $15 million (up from $13.99 million for 2025). That amount will be adjusted annually for inflation for 2027 and beyond. Without tax legislation signed into law in 2025, the exemption would have returned to an inflation-adjusted $5 million for 2026. The generation-skipping transfer tax exemption amount also increases to $15 million for 2026 and will be annually adjusted for inflation after that. Contact us at (479) 361-2201 to discuss how these changes might affect your estate plan.

12/31/2025

With the standard deduction permanently doubled, far fewer taxpayers itemize deductions. That means many people won’t be able to deduct their 2025 charitable gifts. But starting with cash donations made in 2026, nonitemizers can claim a deduction up to the applicable limit. However, itemizers will face a new adjusted gross income floor on their charitable deductions. If your giving typically exceeds these limits but not your standard deduction, bunching donations into alternating years may offer tax savings. Contact us at (479) 361-2201 to learn more. A proactive review now can help you plan wisely.

12/30/2025

Like race car drivers, business owners need to keep their eyes on certain gauges as they look to outpace the competition. Another term for such gauges is key performance indicators (KPIs). These measurements allow you to track your business’s performance in a wide variety of contexts. We can help you choose the optimal KPIs for your operations and strategic goals. Please contact us at (479) 361-2201.

12/29/2025

Did you receive an IRS audit notice but believe you did nothing wrong? Some audits are random, and some can be resolved by mail. Others are triggered by red flags that may put the IRS spotlight on your tax return. Keeping up with ever-evolving tax laws can be challenging, but one common red flag that may draw attention is a sudden, unexplained spike or drop in your reported income from one year to the next. While legitimate income changes do happen, it’s important to be prepared to justify them. Contact us for help with this matter at (479) 361-2201.

12/24/2025

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 (479) 361-2201 for assistance.

12/23/2025

Tax penalties can feel like dragging a ball and chain. They may happen even when you’ve done your best to comply with tax law. Don’t panic. Penalty relief may be available. For example, if you suffered a serious illness, were a victim of a natural disaster, or relied on bad advice from the IRS, you may qualify for penalty abatement. A penalty may arise from actions such as filing late, making a late tax payment or missing a deposit. If you receive an IRS notice that you think is incorrect or unjust, you don’t have to tackle it alone. Contact us at (479) 361-2201 for help with this matter.

12/22/2025

Fraud often hides in plain sight. Some red flags to watch for include reporting delays, unexplained cash shortages, missing inventory, inconsistent financial reports, duplicate payments and vendors you don’t recognize. You may also notice employees who resist sharing responsibilities, override company policies or avoid taking vacations. Don’t ignore your instincts. We can help investigate financial anomalies, identify weak controls and recover losses. Call us at (479) 361-2201 to strengthen your internal controls and gain peace of mind.

Address

6879 Isaac’s Orchard Road
Springdale, AR
72762

Opening Hours

Monday	8am - 5pm
Tuesday	8am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	8am - 5pm

Telephone

+14793612201

Website

http://www.harriscpasllc.com/

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