Management Archives - Fort Worth CPA Adam Traywick

Don’t Forget to Empty Out Your Flexible Spending Account

If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important date coming up. You may have to use the money in the account by year-end or you’ll lose it (unless your employer has a...

There Still May Be Time to Reduce Your Small Business 2023 Tax Bill

In the midst of busy holiday season, don’t forget to consider taking steps to cut the 2023 tax liability for your business. You still have time to take advantage of a few opportunities. Time deductions and income If your business operates on a cash basis, you can...

Key 2024 Inflation-Adjusted Tax Amounts for Individuals

The IRS recently announced various 2024 inflation-adjusted federal tax amounts affecting individual taxpayers. Most of the federal income tax rate bracket thresholds are about 5.4% higher than for 2023. This means you can generally have about 5.4% more income next...

Key 2024 Inflation-Adjusted Tax Parameters for Small Businesses and Their Owners

The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts most likely to affect small businesses and their owners. Rates and brackets If you run your business as a sole proprietorship or pass-through business...

11 Exceptions to the 10% Penalty Tax on Early IRA Withdrawals

If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one before you’ve reached age 59½. For this purpose, traditional IRAs include simplified employee pension (SEP-IRA) and SIMPLE-IRA...

A Cost Segregation Study May Cut Taxes and Boost Cash Flow

Is your business depreciating the entire cost of constructing the building that houses your enterprise over 30 years? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes...

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About Adam: After receiving his Bachelors in Accounting from the University of Alabama in 2005 and his Masters of Tax in 2007, Adam moved to the Washington DC area and worked with a “Big 4″ public accounting firm. This was a fascinating and formative time where he was able to work with, and advise, some of the biggest companies in America. A few years later, Adam moved to Fort Worth, Texas and began working for a small public accounting firm. It was there that he discovered he really enjoyed working with small businesses. The difference he could make in these businesses was extremely gratifying, which is why Adam has chosen to focus his practice primarily on small business accounting.

"Being a CPA has led me to meet and work with many wonderful people and ideas. I always look forward to putting that experience and knowledge to work for my clients every day.”

-Adam Traywick, CPA