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Real Estate Agent Contractor Agreements: What Texas Brokerages Need in Writing

A signed independent contractor agreement is one of three things that keeps your agents off payroll for federal tax. What Texas brokers need in writing.

2020 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the tax-related deadlines affecting businesses and employers during the fourth quarter of 2020. Keep in mind that this list isn’t all-inclusive. There may be

Tax Implications of Working from Home and Collecting Unemployment

COVID-19 has changed our lives in many ways, and some of these changes have tax implications. Here’s some basic information about two common situations. 1. Working from home.

Homebuyers: Can You Deduct Seller-Paid Points?

Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports existing home sales and prices are up nationwide, compared with last year. One of reason is the

Employers Have Questions and Concerns About Deferring Employees’ Social Security Taxes

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations. The

Back-to-School Tax Breaks on the Books

Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. No matter how your kids are going back

5 Key Points About Bonus Depreciation

You’re probably aware of the 100% bonus depreciation tax break available for a wide range of qualifying property. Here are five important points to be aware of when

Will You Have to Pay Tax on Your Social Security Benefits?

If you’re getting close to retirement, you may be wondering: Are my Social Security benefits going to be taxed? And if so, how much will you have to

CARES Act Made Changes to Excess Business Losses

The CARES (Coronavirus Aid, Relief and Economic Security) Act made changes to excess business losses; includes some changes that are retroactive. There may be opportunities for some businesses

What Happens If an Individual Can’t Pay Taxes

While you probably don’t have a problem paying your tax bills, you may wonder: What happens in the event you (or someone you know) can’t pay taxes on

The President’s Action to Defer Payroll Taxes: What Does It Mean for Your Business?

On August 8, President Trump signed four executive actions, including a Presidential Memorandum deferring the employee’s portion of Social Security taxes for some people. These actions were taken

More Parents May Owe “Nanny Tax” This Year, Due to COVID-19

In the COVID-19 era, many parents are hiring nannies and babysitters because daycare centers and summer camps have closed. This may result in federal “nanny tax” obligations. Keep

The Possible Tax Consequences of PPP Loans

If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan in connection with the COVID-19 crisis, you should be aware of the potential tax