Small Business

2025 Texas Franchise Tax Second Extension due August 15, 2025.

Texas Franchise Tax: August 15 Second Extension Deadline Approaching for Mandatory EFT Payors

It’s that time again—if your business paid $10,000 or more in franchise taxes last year, this reminder is for you. The August 15 deadline is fast approaching for the second extension of the Texas Franchise Tax report. And yes—this second extension comes with some strings attached. Here’s How It Works: If you’re a mandatory EFT […]

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Mid-Year Tax Tip: Review Your Estimated Payments

Mid-Year Tax Tip for Small Business Owners: Time to Review Your Estimated Tax Payments As we pass the halfway point of the year, it’s a smart time for small business owners to take a closer look at their estimated tax payments. Many business owners set their estimates early in the year and forget about them—but

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Small business get tax relief in Texas Property Tax Reform

If you haven’t been following the Texas legislature, and I wouldn’t blame you if you haven’t, they just concluded their second called Special Session on July 14, 2023. Special sessions can only be called by the Governor and are limited to topics that the Governor lists in his announcement calling the sesssion. This time the

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3 tips for small businesses to reduce their taxes in 2023

3 easy ways for small businesses to save on taxes in 2023

I asked ChapGPT for 3 easy tips that small businesses can use for 2023 to reduce their taxes.

Let’s see what it came up with. Do you agree with these tips?
#TaxTipTuesday #TaxTwitter

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20220824 IRS Notice 2022-36

IRS releases penalty relief for taxable years 2019 and 2020

I am just now reading the IRS Notice 2022-36 and wanted to share the news to help spread it around. I guess it was initially released last night (August 23, 2022) and then pulled off their website. It was then re-released to their website today, August 24, 2022. The notice proves relief for certain taxpayers

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PPP Forgiveness Guidance 5/23/2020

Howdy y’all. It’s Saturday morning on May 23, 2020 and I wanted to send out a quick update. Last night around 9:30 pm CDT on May 22, 2020, the Treasury dropped a couple new Interim Final Rules on their website related to the Paycheck Protection Program. Yes, you read that correctly, it was on the

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Paycheck Protection Program loan details revealed

The U.S. Department of the Treasury has released information related to the Paycheck Protection Program (PPP) for small businesses. This Program consists of loans to small (and not so small) businesses to help cover expenses like payroll, rent, and utilities. Background on the loans: The loans provide businesses with funds to pay up to 8

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What tax pros want from their small business clients

If you have a small business, or are an accountant working for a small business, chances are you use a tax professional to prepare your tax returns. Now that we’re in the heart of “Busy Season”, I thought I’d take a moment to talk about the information you send to us and what you can

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Is Texas planning to implement Wayfair Economic Nexus for the Texas Franchise Tax?

I was surfing the web this hot Sunday afternoon because it’s just too hot to go outside and I found this gem of an update posted by KMPG in their TWIST podcast published on August 12, 2019. It’s a very short 1:54 podcast so I encourage you to go listen or read the transcript for yourself.

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