Our focus is to help our clients increase profits, which reaches far beyond tax planning alone. So when we came across an article about goods young generations simply don’t buy, we took notice. Some of these profit slides are due to predictably fickle trends (the rise and sudden fall of gourmet cupcake

s, for instance), but others signify a much deeper downturn that manufacturers, retailers and service providers should considering pivoting around.

The IRS allows several ways to earmark pre-taxed money for certain expenses, thus reducing your end-of-year taxable income. Health savings accounts (HSAs) are among them. HSAs can be easy to set up and individually managed outside of employer healthcare plans. 

There’s never been a better time to purchase equipment and other assets for your business, at least as far as the IRS is concerned. That’s because both Section 179 deductions and the new bonus depreciation deductions have been greatly expanded under the Tax Cuts and Jobs Act of 2017.

Can you believe we’re on the cusp of the holidays? Can you smell the pumpkin spice in the air?  If your business ramps up for the holiday rush, you likely already have your wheels spinning on hiring part-time seasonal help. But to avoid future problems (fines, labor complaints, and audits), you need to be on top of the latest employment and tax regulations. 

As online charity scams increase, a former professional basketball player has been found to have been in on the action. Former NBA star Kermit Alan Washington was recently sentenced

to six years in prison without parole and nearly $1 million in restitution for charity fraud,

Welcome to Texas! Are you from California? It’s a question many Texans have learned to ask lately, and the answer is often affirmative. For years, California business owners have been lured to Texas for its ideal climate of relatively low taxes, low regulation, and high quality of life. Most recently, San Antonio has seen a big boom, with California companies like TaskUs moving to the Alamo City. 

Determining when and why to file an amended tax return is an individual decision based on several key factors (usually a change in filing status, income, deductions or credits). You may be surprised to learn filing an amendment sooner isn’t necessarily better, though, even according to the IRS.

The IRS prefers you file your taxes electronically, but the penalties for late filing and errors are harsher than for taxpayers who file on paper! So should you e-file? That’s the question many taxpayers and CPAs are asking, and the answers aren’t quite clear yet.