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Your Year-End Tax Planning Checklist for 2026: Built for DFW Trades Businesses

Year-End Tax Planning Checklist

House Rich but Cash Poor? Consider a Reverse Mortgage Strategy

Are you an older taxpayer who owns a house which has appreciated greatly? If so, and you need income, there could be a solution with a tax-saving bonus.

Inflation Enhances the 2025 Amounts for Health Savings Accounts

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are

You May Be Entitled to Tax Breaks if Caring for an Elderly Relative

There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life, and allowing the person to

Should You Convert Your Business from a C to an S Corporation?

Choosing the right business entity has many implications, including the amount you pay in taxes. The most common business structures are sole proprietorships, partnerships, limited liability companies, C

Tax Tips When Buying the Assets of a Business

After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible

A Three-Step Strategy to Save Tax When Selling Appreciated Vacant Land

Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated land

Charitable Giving Tax Deduction Guide: Limits, Substantiation, and Strategy

Charitable giving done thoughtfully is one of the more flexible tax planning levers for small business owners. Done casually it leaves money on the table. The difference is

The Tax Advantages of Including Debt in a C Corporation Capital Structure

Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation in need of more capital. You

Pay Attention to the Tax Rules if You Turn a Hobby into a Business

Many people dream of turning their hobby into a regular business. Perhaps you enjoy boating and would like to open a charter fishing business. Or maybe you’d like

Growing Your Business with a New Partner: Here Are Some Tax Considerations

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning to admit

Taxes When You Sell an Appreciated Vacation Home

Vacation homes in upscale areas may be worth way more than owners paid for them. This is great for getting a higher price, but what about taxes? Here

When Partners Pay Expenses Related to the Business

It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships like architecture or law firms.