Can I Disagree with the IRS?
If you’ve received a notice from the IRS for a tax penalty, audit or adjustment, there are steps you can take to challenge the determination.
One Big Beautiful Tax Bill: Areas of Interest for Domestic Businesses
The domestic business portion of the Trump Administration’s One Big Beautiful Bill (OBBB) includes a handful of changes for small- and medium-sized businesses, affecting bonus depreciation, reporting requirements and more.
Working on Vacation: Tax Tips and Implications
Working remotely during a vacation or business trip can offer flexibility, but it also brings unique tax implications. It’s important to understand where business deductions end and personal expenses begin. Staying informed helps you stay compliant and make the most of potential tax savings.
$125,000 Business Inventory Tax Exemption Heading to Texas Voters
Potential property tax cuts have been all the buzz, but Texas business owners will be happy to know the bill to increase the Texas business personal property tax exemption from $2,500 to $125,000 (an almost 5,000% increase) has also passed and is heading to voters in November. Texas is one of only nine states that […]
The Goldilocks Rule for Tax Withholding
If you’re like half of Americans this year, you are more dependent on your tax refund to pay for necessities than you have been in the past. But paying more taxes than necessary shouldn’t be part of your game plan.
How Small Business Owners Reduce Taxable Income
Reducing taxable income not only helps you retain more of your hard-earned money, but it’s also one of the best ways to find savings that can be reinvested in your business. This month, we wanted to step back to overview the most basic ways small business owners can reduce taxable income. First, it’s critical to […]
Spot These Tax Scam Signs Before It’s Too Late
Scammers are working overtime to separate honest taxpayers from their hard-earned money. These fraudsters are getting more sophisticated, moving beyond the obvious email phishing attempts to elaborate schemes that can fool even financially savvy individuals. Learn to recognize these common warning signs that could save you from becoming the next victim: Getting a bigger refund […]
Small Business Merger Tax Considerations
A small business merger can increase the market and financial power of everyone involved, but it takes strategic foresight for such a move to be successful. Taxes are a significant consideration during the planning process because they can financially impact the transaction. True, equal mergers are relatively rare compared to acquisitions. Many transactions labeled “mergers” […]
Charitable Giving & Your Taxes
We know charitable giving is on your mind. We love that about you! Make the most of it this season and all year long with our charitable contribution tips. Total giving among Americans is higher than it has ever been. But, when adjusted for inflation, those dollars aren’t stretching far. And we certainly don’t know […]
Texas Franchise Tax Reminders
The Texas franchise tax exemption nearly doubled to $2.47 million in 2024, and many businesses are breathing a sigh of relief. But we’ve noticed some confusion about who qualifies and what other obligations still apply. The Texas franchise tax exemption increase eliminates annual franchise taxes for an estimated 67,000 small- to medium-sized businesses that no […]