Wiley and Esparza Bookkeeping Inc

Wiley and Esparza Bookkeeping Inc Bookkeeping services, entity formation, tax preparation and tax planning for individuals, corporations, and partnerships/ LLCs
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2025 tax return changes for your personal return you need to know. for tip income we need your total income including ti...
01/29/2026

2025 tax return changes for your personal return you need to know. for tip income we need your total income including tips and what the tip amount was to claim that deduction.

More changes from the Big Beautiful Bill!
07/19/2025

More changes from the Big Beautiful Bill!

07/18/2025

💰 Selling Land, Stock, or Equipment? Read This First.

The Big Beautiful Bill made key changes to how capital gains are taxed — and it matters for farmers, ranchers, and investors:

✅ GOOD NEWS
🏞️ Farmland Capital Gains Exclusion Expanded
Sell land & reinvest in ag property within 2 years =
📉 Up to $500,000 ($1M MFJ) of gain excluded

⛽ Capital Gains Brackets Still 0%, 15%, 20%
✔️ Rates stay the same
✔️ Inflation-adjusted thresholds (slightly higher for 2025)

⚠️ BUT WATCH FOR THESE CHANGES:

💵 3.8% Investment Tax Now Hits Sooner
Thresholds lowered:
• Single: $150,000
• Married: $200,000
Applies to gains, dividends, rental income

🏠 1031 Exchange Cap Added
Real estate swaps now limited to $1M deferral per year

📈 Step-Up in Basis Still Safe
No change to inherited land or stock basis rules

07/17/2025

🏡 Thinking About Solar or Energy Upgrades? Read This First.

The Big Beautiful Bill made some changes to home energy tax credits — here’s what’s still good and what’s getting smaller:

☀️ SOLAR CREDIT STAYS STRONG
✅ Still a 30% federal tax credit for:
• Solar panels
• Battery storage (≥3 kWh)
• Solar water heaters
➡️ Available through 2032

🪟 ENERGY-EFFICIENT UPGRADES — CUT DOWN
⚠️ Credit reduced from 30% to 20%
⚠️ Annual cap lowered to $1,000–$2,000
Includes:
• Windows & doors
• Insulation
• Heat pumps & high-efficiency HVAC

📌 Bottom Line:
Solar still pays off. Home upgrades still count — but you’ll get less back.

07/16/2025

🐂 RANCHERS: Don’t Miss These Tax Breaks in the Big Beautiful Bill

The Big Beautiful Bill includes several key provisions ranchers can take advantage of right now — especially if you’re investing in your herd or land.

✅ Livestock Depreciation Extended
100% bonus depreciation on breeding cattle, sheep, and goats
Also eligible under Section 179 expensing

💧 Water System Deduction Boosted
Install tanks, troughs, wells, solar pumps, or pipelines
Now fully deductible in year one (limits apply)

📝 Grazing Leases Qualify for 20% Deduction
Passive income from leasing out pasture may now qualify under Section 199A

⛽ Fuel Tax Refunds Expanded
Covers feed trucks, ranch pickups, hauling, and more — even on split-use properties

🌵 Drought & Casualty Provisions Stay
Special tax relief if you sold livestock due to drought in designated counties

📌 Ranchers with active operations, leased land, or replacement herd plans — this is your window.

‼️Big Beautiful Bill benefits for farmers
07/16/2025

‼️Big Beautiful Bill benefits for farmers

07/15/2025

📣 ATTENTION FARMERS & RANCHERS: CSP and EQIP Are Getting Cut

The Big Beautiful Bill made major changes to USDA conservation funding — and it’s going to hit small and mid-size producers hard.

🟥 What’s Changing:

🔧 EQIP (Environmental Quality Incentives Program)
• Funding cut by 20%
• Higher cost-share required (up to 50%) for fencing, erosion control, irrigation
• Fewer contracts available in lower-scoring regions like West Texas

🌱 CSP (Conservation Stewardship Program)
• Budget cut by 29%
• Lower payments for existing conservation practices
• Harder for farms under 500 acres to qualify
• Priority given to operations already doing advanced conservation

📉 NRCS also cut 15%, so expect delays in technical help and planning assistance

✅ What You Can Do:
• Plan early — competitive funding will move fast
• Bundle practices to improve scoring
• Work with a planner or ag consultant now

NRCS staffing is being cut by 15% in the Big Beautiful Bill.
07/15/2025

NRCS staffing is being cut by 15% in the Big Beautiful Bill.

There are no changes to current CRP contracts.
07/14/2025

There are no changes to current CRP contracts.

Address

232 N Crosby Street
Crosbyton, TX
79322

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm
Saturday 10am - 2pm

Telephone

+18064017646

Website

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