Reaching Texas Franchise Tax Status
There’s a cost for success in Texas: The Franchise Tax. If your business is experiencing or planning rapid growth, don’t be caught unprepared when you reach the threshold. The Texas Comptroller considers the Texas Franchise Tax a “privilege” tax, meaning it’s imposed on taxable entities for the privilege of doing business in Texas. Unlike what […]
IRS Increases Identity Protection Through Tax Professionals
The IRS recently announced increased security for the Centralized Authorization File (CAF) program and client transcript process used by tax professionals. A nine-digit CAF number is assigned to tax preparers as an extra layer of security when they are interacting with the IRS on a client’s behalf. A reputable tax professional will ask you to […]
Tax Treatment of Employee Work/Life Referral Programs
Many workers today seek employers who prioritize mental health and wellness. Initiatives like employee work/life referral (WLR) programs are becoming popular ways to meet these expectations, and the IRS is entering the conversation with new guidance on how these types of programs are taxed. WLR programs include services that assist eligible employees with identifying, contacting, […]