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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 New Form 1099-NEC and the Revised 1099-MISC Are Due to Recipients Soon

There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by February 1,

PPP Loans Have Reopened: Let’s Review the Tax Consequences

The Small Business Administration (SBA) announced the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during

One Reason to File Your 2020 Tax Return Early

The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new

Educate Yourself About the Revised Tax Benefits for Higher Education

Attending college is one of the biggest investments parents and students ever make. If you or your child (or grandchild) attends (or plans to attend) an institution of

Can Your Business Benefit From the Enhanced Employee Retention Tax Credit?

COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit

The COVID-19 Relief Law: What’s In It For You?

The new COVID-19 relief law was signed on December 27, 2020, and contains a multitude of provisions that may affect you. Here are some of the highlights of

New Law Doubles Business Meal Deductions and Makes Favorable PPP Loan Changes

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks

Prevent and Detect Insider Cyberattacks

In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization. He then used stolen customer lists to start his own mortgage business. The

The Right Entity Choice: Should You Convert From a C to an S corporation?

The best choice of entity can affect your business in multiple ways, including the amount of your tax bill. Although S corporations can provide substantial tax benefits over

Your Taxpayer Filing Status: You May Be Eligible to Use More Than One

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your

The Next Estimated Tax Deadline is January 15 If You Have to Make a Payment

If you’re self-employed and don’t have paycheck withholding, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis.

2021 Q1 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 first quarter of 2021. This list isn’t all-inclusive, so there may be additional