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.
Welcome to Texas: Cutting Tax Ties with Your Previous State
San Antonio is currently one of the fastest-growing metro areas in the nation. If you’re among our new residents, welcome! Before you enjoy the tax-friendly perks of living and running a business in Texas, you’ll need to cut tax-ties with your previous state. Some, like California and New York, make that very tricky.
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 […]
‘Bitcoin Jesus’ Faces Tax Fraud Reckoning
Early investors of Bitcoin have fascinating tales to tell. None are more intriguing than Roger Ver’s, whose early success and evangelism of crypto investing earned him the nickname ‘Bitcoin Jesus’ and a giant IRS investigation into tax fraud. What lessons does his tale hold for other taxpayers? Ver jumped into Bitcoin in 2011, when the […]
Tax Considerations of Qualified Settlement Funds
Qualified Settlement Funds (QSFs), which can be an LLC or a Trust, are the unsung heroes of many legal settlements, offering significant potential tax advantages for both plaintiff parties and defendants. QSFs have an interesting history rooted in tax legislation and the need for more efficient handling of complex legal settlements. Over time, the use […]
Weighing Taxes When Selling Your Business
Every small business owner must make an exit at some point. It’s an inevitable fact. In many of these cases, it involves selling the business, whether it’s to a new buyer, employees, the next generation of family, or some combination of these. What’s the best time to start planning your sale? The first day you’re […]
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 […]
Bankler’s Year In Review
We don’t usually talk about ourselves on this blog, but it’s been a fantastic year, thanks to our employees and clients. We just had to share our gratitude and tie it back to what it means for you: We all thrive together. Here are some top reasons we can’t wait to head into 2025 with […]