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 […]
What tax pros want from their small business clients Read More »
Every year the IRS releases inflation adjustments to amounts used in tax policy. One of these adjustments is the amount that can be contributed to retirement savings accounts. Here is your comparison of contribution amounts to your retirement accounts for 2019 and 2020. For more details on these saving accounts and amounts, visit the IRS
IRS increases retirement savings contribution limits for 2020 Read More »
Wow, summer went by fast! Actually, it’s still “summer” and will be summer until Monday, September 23, 2019. And here in Texas, it’ll be summer well into October. But officially, summer break is ending for teachers and student. All the teachers I know start the new school year with excitement and engagement and then it
Back to School – Tax tips for teachers as the new school year starts. Read More »
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.
Is Texas planning to implement Wayfair Economic Nexus for the Texas Franchise Tax? Read More »
Not all software updates are the same. If you have an AMT credit carry-forward, check out this post.
CCH ProSystem fx Tax Users – Check your AMT credit carry-forward Read More »
Earlier this week I read an article titled “Elizabeth Warren wants to give gay couples $57 million in tax refunds.” Now, I know this is gay pride month, but this headline intrigued me. I’ll get to the meat in a second, but let me state that while I don’t see this passing, even under the
PRIDE Act of 2019 and a history of same-sex marriage tax complications Read More »
It’s early June and I bet you’re in one of two camps. Either you filed your Form 1040 by April 15, 2019 and don’t want to think about taxes until next January. Or, you extended your Form 1040 by April 15, 2019, and you don’t want to think about taxes until the extended deadline of
How to calculate & make the 2nd Quarter Estimated Tax Payment due June 17, 2019 Read More »
Today we’re going to look at the kinds of things a business owner should know and keep track of for tax purposes. What can a business owner learn from Tyrion Lannister and why is it important to emulate one of his characteristics? I’ll admit to being a big fan of Tyrion but I’m not a
Why a business owner has to be like Tyrion Lannister Read More »
UPDATE 5/13/2019 6:50 PM CDT – I finally received the official instructions from CCH on filing certain tax returns with the IRS after the May 15, 2019 deadline within the additional time until May 22, 2019. Those instructions are very long and specific so I have included them on a separate post instead of on
5/11/2019 – Wolters Kluwer CCH – Important update on Service Interruptions Read More »
Note for 2022 Texas Franchise Tax Reports – these are the reports for the calendar year ended on December 31, 2021 and other fiscal years that ended during 2021 -There is no change to the deadline like there have been for the past 2 years. The deadline is Monday, May 16, 2022. Well, it’s time
Texas Franchise Tax Report – Report Year and Accounting Period explained Read More »