Need an accounting firm that understands your industry's unique challenges? Condley has decades of experience serving clientele from a diversity of industries—in Abilene and beyond.
Whatever sector your business operates in, we tailor our services specifically to your needs. Even if your industry isn't detailed below, consider us a potential partner for success. We take pride in our ability to adapt to and even exceed client expectations.
In a world of numbers and bottom line solutions, it’s easy to overlook that success in business is really about relationships. At Condley & Company, L.L.P, we’re proud to have many long-standing clients in Abilene, TX, and the surrounding area.
The pro-rata rule: the backdoor Roth IRA mistake that can create an unexpected tax bill
By
Condley
The backdoor Roth IRA strategy can trigger an unexpected tax bill if you overlook the pro-rata rule, which requires the IRS to treat all of your traditional IRA balances together when calculating how much of a conversion is taxable. A separate account, a prior 401(k) rollover, or even a year-end IRA balance you didn't have at the time of conversion can all affect the result. Before contributing or converting, review your full IRA picture to avoid a costly surprise at tax time.
A new federal tax credit could help fund K-12 scholarships starting in 2027
By
Condley
Starting in 2027, a new federal tax credit will allow eligible taxpayers to reduce their tax liability dollar for dollar by making cash contributions to qualifying Scholarship Granting Organizations that fund K-12 education. Unlike a charitable deduction, this credit directly offsets what you owe, with individual credits of up to $1,700 per year and up to $3,400 for married couples filing jointly. If you support education-focused giving, now is the time to understand how this new credit interacts with existing state programs and your overall charitable strategy.
Indirect cost allocation for federal government contractors: building rates you can explain and support
By
Condley
Federal government contractors who bill on cost-reimbursable contracts must allocate indirect costs across contracts using structured rates for fringe, overhead, and G&A. This article explains how those rates are calculated, why they shift over time, and how inaccurate rate assumptions can affect proposal pricing, contract margins, and interim billing. Whether you are building a rate structure for the first time or questioning whether your current one still fits your business, this guide walks through the key mechanics and what to watch for.
