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calculating expenses

Why hiring your children might be a good idea?

General Bookkeeping

When hiring your children to work in your business, you get to write-off their salaries. Your children must pay taxes on their salary only if it exceeds the standard deduction amount for that year.

A woman sitting at a computer writing a blog post

Watch What You Post

Tax Problems

The article explores a case where a blogger's online posts were used as evidence by the IRS in a tax dispute, underscoring the need for caution when sharing personal information online.

Cash , selective focus — Photo

What is an accountable Plan?

Tax Planning

Does your business have an accountable plan? If not, you are leaving money on the table.

Tarrant County Small Business Workforce Grant

Tax Planning

Tarrant County, Texas announced a grant opportunity designed to provide financial assistance to impacted small businesses whose workforce has been adversely affected by the COVID-19 pandemic. Do you qualify?

Non-Cash Charitable Contribution

Tax Planning

Yes, I know that we all wear designer clothes, and those Tory Burch shoes aren’t cheap, but if you claim a non-cash contribution on your tax return of $5,000 or greater, you best get an appraisal. ‍Property contributions over $5,000, with certain exceptions, have strict guidelines...

Upcoming Tax Law Changes

Tax Planning

Even though there is a lot of unknown tax law changes, there are some changes that we do know about. This is not an all-inclusive list but is some of the most popular.

Tax planning with calculator and notepad

Missed Opportunities to Save Money on Taxes

Tax Planning

I decided to upgrade my wardrobe after I heard someone speak about what you wear portrays your professional image. Not that I needed an excuse to go shopping for clothes, I set out to find the best deals in high end business attire.

Hiring Your Children Can be a Great Tax Savings Tool

Hiring Your Children Can be a Great Tax Savings Tool

Tax Planning

I remember when my daughter was young, and she wanted to do EVERYTHING. Every type of sport, dance, camp; we did it. She had a blast! My wallet…. not so much. It only took one year of spending this kind of money when I realized I could take advantage of a great tax strategy just by hiring my daughter to come work in my tax practice.

Investor Vs. Dealer in the Real Estate World

Investor vs Dealer in the Real Estate World

Tax Planning

How many of you love watching HGTV? A lot of you, I’m sure. It is the fourth most-watched cable network in the United States. 

Second wave of PPP loans can provide more financial assistance.

The NEW PPP

Tax Problems

The new Covid-19 stimulus act sets aside $35 billion for first-time PPP applicants, with $15 billion of that made in loans for first-time applicants .

Image of a mask and piece of election mail

New COVID-Related Text Scam

Tax Problems

If there is ever an opportunity for scammers to find a way to take your personal information, they are on it!

Students sitting in a lecture hall.

Be in the know… SLRP

General Bookkeeping

What is an SLRP? SLRPS stands for Student Loan Repayment Programs. Employers contribute a fixed amount per month to their employee’s student loans.

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