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FLSA Changes in 2024: What Employers and Employees Need to Know
The Fair Labor Standards Act (FLSA) governs minimum wage, overtime pay, and working hours, ensuring that employees across the U.S. are treated fairly. In 2024, significant changes to the FLSA overtime rules will take effect, directly impacting both employers and...
What Tax Documents Should I Save, and How Long Should I Save Them?
What Tax Documents Should I Save, and How Long Should I Save Them? Maintaining proper tax records is crucial for both individuals and businesses. Not only does it ensure compliance with tax laws, but it also provides a safeguard in case of audits or disputes. This...
Underpayment Penalties and How to Avoid Them
Underpayment Penalties and How to Avoid Them Underpayment penalties can be a significant concern for taxpayers, both individuals and corporations. These penalties are imposed when taxpayers fail to pay enough tax throughout the year, either through withholding or...
Choosing the Right Filing Status for Your Taxes: A Comprehensive Guide
Choosing the Right Filing Status for Your Taxes: A Comprehensive Guide When it comes to filing your taxes, one of the most crucial decisions you'll make is selecting the appropriate filing status. Your filing status affects your filing requirements, standard...
Why Corporations and S-Corporations Cannot Deduct Shareholder Expenses Directly on the Corporate Return
Why Corporations and S-Corporations Cannot Deduct Shareholder Expenses Directly on the Corporate Return When it comes to managing business expenses, corporations and S-corporations face specific rules and limitations, particularly concerning the expenses...
Understanding Storm-Related Tax Implications for Texas Tax Filers: Hurricane Beryl and the May Derecho
As Texans, we know all too well the impact that severe weather can have on our lives and communities. This year, we've faced two significant challenges: Hurricane Beryl and the May derecho that swept through the Houston area. In the wake of these natural...
Roth vs Traditional IRA: A Comprehensive Guide
When planning for retirement, choosing the right Individual Retirement Account (IRA) can significantly impact your financial future. The two most popular types of IRAs are the Roth IRA and the Traditional IRA. Each has its unique benefits and drawbacks, and...
Credits vs Deductions: What is the Difference?
When it comes to filing taxes, understanding the difference between tax credits and tax deductions is crucial. Both can significantly reduce your tax liability, but they work in different ways. This article will delve into the distinctions between tax credits and...
IRS Audits: Understanding the Process, Red Flags, and Preparation
Navigating the complexities of the U.S. tax system can be daunting, and one of the most anxiety-inducing aspects for taxpayers is the possibility of an IRS audit. Understanding the audit process, recognizing potential red flags, and knowing how to prepare can...
Energy Tax Credits: Tax Incentives for Energy-Efficient Home Improvements and Renewable Energy Installations
In an era where environmental sustainability is becoming increasingly critical, energy tax credits offer homeowners a financial incentive to make energy-efficient home improvements and invest in renewable energy installations. These tax credits not only help reduce...
Needs Analysis
Free One Hour Discovery meeting for business owners looking for an advisor to help them with their taxes or accounting.
Individual, Estate, Trust, & C-Corp Filing Deadlines
TX - June 15th, 2021
Non-TX - May 17th, 2021
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Latest News
FLSA Changes in 2024: What Employers and Employees Need to Know
The Fair Labor Standards Act (FLSA) governs minimum wage, overtime pay, and working hours, ensuring that employees across the U.S. are treated fairly. In 2024, significant changes to the FLSA overtime rules will take effect, directly impacting both employers and...
What Tax Documents Should I Save, and How Long Should I Save Them?
What Tax Documents Should I Save, and How Long Should I Save Them? Maintaining proper tax records is crucial for both individuals and businesses. Not only does it ensure compliance with tax laws, but it also provides a safeguard in case of audits or disputes. This...
Underpayment Penalties and How to Avoid Them
Underpayment Penalties and How to Avoid Them Underpayment penalties can be a significant concern for taxpayers, both individuals and corporations. These penalties are imposed when taxpayers fail to pay enough tax throughout the year, either through withholding or...
Choosing the Right Filing Status for Your Taxes: A Comprehensive Guide
Choosing the Right Filing Status for Your Taxes: A Comprehensive Guide When it comes to filing your taxes, one of the most crucial decisions you'll make is selecting the appropriate filing status. Your filing status affects your filing requirements, standard...
Why Corporations and S-Corporations Cannot Deduct Shareholder Expenses Directly on the Corporate Return
Why Corporations and S-Corporations Cannot Deduct Shareholder Expenses Directly on the Corporate Return When it comes to managing business expenses, corporations and S-corporations face specific rules and limitations, particularly concerning the expenses...
Understanding Storm-Related Tax Implications for Texas Tax Filers: Hurricane Beryl and the May Derecho
As Texans, we know all too well the impact that severe weather can have on our lives and communities. This year, we've faced two significant challenges: Hurricane Beryl and the May derecho that swept through the Houston area. In the wake of these natural...
Roth vs Traditional IRA: A Comprehensive Guide
When planning for retirement, choosing the right Individual Retirement Account (IRA) can significantly impact your financial future. The two most popular types of IRAs are the Roth IRA and the Traditional IRA. Each has its unique benefits and drawbacks, and...
Credits vs Deductions: What is the Difference?
When it comes to filing taxes, understanding the difference between tax credits and tax deductions is crucial. Both can significantly reduce your tax liability, but they work in different ways. This article will delve into the distinctions between tax credits and...
IRS Audits: Understanding the Process, Red Flags, and Preparation
Navigating the complexities of the U.S. tax system can be daunting, and one of the most anxiety-inducing aspects for taxpayers is the possibility of an IRS audit. Understanding the audit process, recognizing potential red flags, and knowing how to prepare can...
Energy Tax Credits: Tax Incentives for Energy-Efficient Home Improvements and Renewable Energy Installations
In an era where environmental sustainability is becoming increasingly critical, energy tax credits offer homeowners a financial incentive to make energy-efficient home improvements and invest in renewable energy installations. These tax credits not only help reduce...
Dates to Remember
Needs Analysis
Free One Hour Consultation for any new business owner looking for an advisor to help them with their taxes or financials.
Individual, Estate, Trust, & C-Corp Filing Deadlines
TX - June 15th, 2021
Non-TX - April 15th, 2021
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