Are you still asking "Can I expense this...?" Use our free tool!

Check out our latest helpful blogs

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

Plan Ahead for the 3.8% Net Investment Income Tax

High-income taxpayers face a 3.8% net investment income tax (NIIT) in addition to regular income tax. Fortunately, there are some steps you may be able to take to

Hiring Your Minor Children This Summer? Reap Tax and Nontax Benefits

If you’re a business owner and you want to hire your children this summer, you can obtain tax breaks and other nontax benefits. Your kids can gain on-the-job

The IRS Has Announced 2022 Amounts for Health Savings Accounts

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for

Still Have Questions After You File Your Tax Return?

Even after you have successfully filed your 2020 tax return with the IRS, you may still have some questions about the return. Here are brief answers to three

An S Corporation Could Cut Your Self-Employment Tax

You’re subject to both income tax and self-employment tax if your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC). However,

Working in the Gig Economy Results in Tax Obligations

Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy was already on the rise. Reductions in working hours during the pandemic

Help Ensure the IRS Doesn’t Reclassify Independent Contractors as Employees

Many businesses use independent contractors to help keep employment costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If

Tax Filing Deadline Is Coming Up: What To Do If You Need More Time

“Tax day” is just around the corner. This year, the deadline for filing your 2020 individual tax returns is Monday, May 17, 2021. The IRS postponed the usual

Providing Education Assistance to Employees? Follow These Rules

Education is a fringe benefit many businesses provide so their employees can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up

Why It’s Important to Meet the Tax Return Filing and Payment Deadlines

The May 17 deadline for filing your 2020 individual tax return is coming up soon. (Note: Because Texas was declared a natural disaster area in February, Texas residents

Unemployed Last Year? Buying Health Insurance This Year? You May Benefit from Favorable New Changes

In recent months, there have been a number of changes that may affect your individual tax bill. Many of these were enacted to help mitigate the financial damage

Know the Ins and Outs of “Reasonable Compensation” for a Corporate Business Owner

Owners of incorporated businesses know there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can