Blog
Can a Retroactive Tax Hike Happen This Year?
There’s talk about the potential for a retroactive tax hike for capital gains. Is it possible? Yes. But is it likely? That question is much more difficult to answer. Legally, the U.S. President...
Why File a Business Tax Return If I Didn’t Make Money?
There’s much more to lose than gain when failing to file a business tax return. You must file if you make money, of course, but it’s also essential to file when you break even or when you lose...
Taxes on Collectibles
Many valuable coins, stamps, artwork, cars, and other collectibles are considered alternate investments by the IRS. With the pandemic reportedly sparking new interest in memorabilia and the...
6 Family Business Succession Tips
There is only one certainty for business owners: You won’t be able to stay at the helm forever. You’ll exit, either by choice or by circumstance. Some business owners prepare years in advance...
Why the IRS Isn’t Taking Your Call
Although our Texas Tax Day was delayed an entire month longer than the rest of the country, it has still been a chaotic mess for those needing answers from the IRS. The agency is backlogged so...
Michael Jackson’s Thrilling Tax Court Win
When Michael Jackson died in 2009, his estate was suffering, and he was deeply in debt. Among what was owed was millions in taxes, but exactly how much was anyone’s guess. Estimates from the...
Estate Planning Lessons from the Queen of Soul
You gotta give estate planning a little respect for the sake of your heirs. When Aretha Franklin passed away in 2018, the singer’s legacy followed a path trod by all too many iconic musicians...
Divorce Gets Costly for Business Owners in 2021
The pandemic has complicated divorces. The number of official splits declined in 2020, likely for practical reasons. By now we’re seeing a sharp increase, and these divorces are among couples...
Lowering Texas Inventory Taxes
Texas is one of only a handful of states that fully taxes business inventory of both raw materials and finished goods as part of what’s known as business personal property. Since there’s no...
Taxes on Collectibles
Did you know many valuable coins, stamps, artwork, cars and other collectibles are considered alternate investments by the IRS? With the pandemic reportedly sparking new interest in memorabilia...