A New Tax Notice Scam

estherTax Planning and Preparation, UncategorizedLeave a Comment

Dallas Tax Pro: Tax Scams To Watch For This Year

The Internal Revenue Service is letting tax professionals and taxpayers know about a new scam involving fake CP2000 notices that are being sent to unsuspecting taxpayers, billing them for unpaid taxes related to the Affordable Care Act. The IRS is issuing the alert in conjunction with its partners in the Security Summit initiative, in which the IRS has been teaming … Read More

Best of Denton County Runners Up

estherUncategorizedLeave a Comment

DFW CPA Tax Accountant - Business Tax Services | Williams & Kunkel CPA

The Best of Denton County results are in! Williams & Kunkel CPAs were runners up in the Best CPA firm in Denton County for the second year in a row! Best of Denton County is a great way to promote and support local businesses. By voting for a business, you show your community how important small businesses are. That’s why we … Read More

Deducting Your Car As a Business Expense

estherTax Planning and Preparation, UncategorizedLeave a Comment

car tax deductions

Whether you’re self-employed or an employee, if you use a car for business, you get the benefit of tax deductions. There are two choices for claiming deductions: Deduct the actual business-related costs of gas, oil, lubrication, repairs, tires, supplies, parking, tolls, drivers’ salaries, and depreciation. Use the standard mileage deduction in 2016 and simply multiply 54 cents by the number … Read More

Tax Status for Newlyweds

estherTax Planning and Preparation, UncategorizedLeave a Comment

Married tax status - DFW CPA Tax Accountant - Business Tax Services | Williams & Kunkel CPA

Getting married changes your tax status. Being aware of a few key things can help you avoid trouble come tax time. If you and your partner were married anytime in 2016, the IRS considers you to be married for the full year, so you both should adjust your tax withholding with your employers. A two-earner couple may end up in a … Read More

The Holy Grail of Tax Deductions

estherTax Planning and Preparation, UncategorizedLeave a Comment

CPA Small Business Advice Flower Mound, Dallas, Fort Worth

Here are three deductions which could be considered “the holy grail” of deductions. That is, they can greatly reduce your adjusted gross income. 1. Contributing to a traditional IRA One of the best ways to reward yourself now — and later — is by contributing to a traditional IRA. A traditional IRA has a maximum annual contribution limit in 2016 … Read More