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How to Lower Your Tax Bill If You Made Over $150K in Texas

Lower tax bill over $150K revenue with smart tax strategies for Texas business owners. Learn proven and legitimate ways to reduce taxes and keep more of your income

The Tax Implications of Renting Out a Vacation Home

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains, or in a resort

How IRS Auditors Learn About Your Business Industry

Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by

Casualty Loss Tax Deductions May Help Disaster Victims in Certain Cases

Wildfires, severe storms, flooding, tornadoes and other disasters have victimized many Americans this year. No matter where you live, unexpected disasters may cause damage to your home or

What Types of Expenses Can’t Be Written Off by Your Business?

If you read the Internal Revenue Code you may be surprised to find most business deductions aren’t specifically listed. For example, the tax law doesn’t explicitly state you

2023 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2023. Keep in mind, this list isn’t all-inclusive, so there

Evaluate Whether a Health Savings Account Is Beneficial to You

With the escalating cost of health care, many people are looking for a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA)

It’s Important to Understand How Taxes Factor into M&A Transactions

In recent years, merger and acquisition activities have been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand

Investment Swings: What’s the Tax Impact?

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the

Spouse-Run Businesses Face Special Tax Issues

Do you and your spouse operate a profitable unincorporated small business together? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your

Plan Now for Year-End Gifts with the Gift Tax Annual Exclusion

With Labor Day behind us the holidays are just around the corner. During the holiday season many people may want to make gifts of cash or stock to

The Untapped Potential of Outsourced Accounting for Small Businesses

Discover How You Can Unlock Savings, Efficiency, & Financial Insights with Outsourced Accounting Firms For small business owners and aspiring entrepreneurs, the thrill of launching and running a

Update on Depreciating Business Assets

The Tax Cuts and Jobs Act (TCJA) liberalized the rules for depreciating business assets and the amounts change every year to adjust for inflation. For 2023 the adjustments