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When Adult Children Move Home: Take Tax Advantage

  • 26 May 2015
  • Author: Cari Holbrook
  • Number of views: 2544
  • 0 Comments
When Adult Children Move Home:  Take Tax Advantage

They’re called the “boomerang” generation: young adults who move back into their parents’ homes, usually to save money after college. One study revealed that nearly 40 percent of young adults ages 18 to 34 have moved back in with their parents for a time after moving out.

Why Planning to Sell Your Business is Always a Good Idea

  • 12 May 2015
  • Author: Cari Holbrook
  • Number of views: 2677
  • 0 Comments
Why Planning to Sell Your Business is Always a Good Idea

One in three small business owners plan to fund their golden years by selling their businesses. However, half of these business owners do not have potential buyers lined up. These statistics from a 2014 Small Business Retirement Readiness Study shed light on a common issue among entrepreneurs: the issue of poor exit planning.

How an LLC Can Help a Business Thrive

  • 21 April 2015
  • Author: Cari Holbrook
  • Number of views: 2955
  • 0 Comments
How an LLC Can Help a Business Thrive

Taking on partners or investors can be risky, especially when you’re just starting out. However, certain risks are necessary in order to succeed. Some tools can help mitigate the risk of getting outside funding for a business. An LLC structure is one of those tools.

Top Money Mistake Startup Businesses Make

Top Money Mistake Startup Businesses Make

About 50 percent of new U.S. companies fail in their first five years. According to the Small Business Administration (SBA), 34 percent close before their second year in business. Some of the worst performing companies are in the fields of transportation, communications/utilities, retail, construction and manufacturing. Starting a business in one of these industries is definitely an uphill battle. But it’s certainly a battle that can be won.

ACA and Your 2014 Tax Return

  • 24 March 2015
  • Author: Cari Holbrook
  • Number of views: 2624
  • 0 Comments
ACA and Your 2014 Tax Return

The Affordable Care Act is expected to complicate an already arduous tax season. Just how much it will complicate your own efforts depends on your situation. If you anticipate a tax credit like the IRS Small Business Tax Credit, you may not receive good news.

Texans: Don't Forget the Sales Tax Deduction

  • 10 March 2015
  • Author: Cari Holbrook
  • Number of views: 2990
  • 0 Comments
Texans:  Don't Forget the Sales Tax Deduction

If you file a Form 1040, the IRS is prepared to reward you for your purchases. However, it’s up to you (and your tax preparer) to not miss the opportunity. 

The federal sales tax deduction expired at the end of 2013 but was revived retroactively to cover 2014 returns. Despite this, it’s a deduction that’s often overlooked.

Texas Payday Law, Part 2: Rules for Bonuses, Commission and Fringe Benefits

  • 24 February 2015
  • Author: Cari Holbrook
  • Number of views: 3002
  • 0 Comments
Texas Payday Law, Part 2: Rules for Bonuses, Commission and Fringe Benefits

This month, we’re covering the most common mistakes when it comes to payroll; mistakes that can cost you and your business dearly. Once you overcome the hurdle of correctly classifying and compensating exempt versus nonexempt employees, you should turn your sights to supplemental compensation.  Are you handling bonuses, commission, fringe benefits and other payments within the law?

Texas Payday Law, Part 1: Is Your Exempt Staff Truly Exempt?

  • 10 February 2015
  • Author: Cari Holbrook
  • Number of views: 3161
  • 0 Comments
Texas Payday Law, Part 1: Is Your Exempt Staff Truly Exempt?
Let’s say today the Texas Workforce Commission (TWC) decided to investigate whether your exempt and nonexempt employees are being compensated fairly. Do you think you’d pass the test? Before you answer, consider this: Even the major accounting firms routinely run into problems classifying their own employees (see this latest ruling regarding entry-level associates).

Special Notice on ACA Changes to 2014 Tax Preparation

  • 28 January 2015
  • Author: Cari Holbrook
  • Number of views: 2704
  • 0 Comments
Special Notice on ACA Changes to 2014 Tax Preparation
The Affordable Care Act (ACA) affects all 2014 individual tax returns. In order to prepare your return, your tax preparer will likely need additional information this year

Four Important Estate Tax Rules for 2015

  • 27 January 2015
  • Author: Cari Holbrook
  • Number of views: 2809
  • 0 Comments
Four Important Estate Tax Rules for 2015

What’s the single best way to reduce estate tax in 2015? Don’t die. Aside from that, the following points are a few things you should know about leaving your hard-earned assets to loved ones this year. If it’s been a while since you’ve updated your estate plan (or you have yet to create one), pay attention to some big changes that have occurred in recent years.

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