New Tax Plan Changes

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Best Locations To Start Your Small Business

The goal of any tax policy should be pretty simple: raise the required revenue to pay for whatever government actually—minimally—needs to do. And the government should do those things as fairly and neutrally as possible. What do the new tax plan changes propose to do and what kind of trends could happen as a result? The Current Tax System Is … Read More

The Most Important Taxpayer Rights to Know

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

Most of you probably know that breaking tax rules, even if on accident, can bring serious consequences like an audit, but you should know your important taxpayer rights as well. Below we’re outlining what your rights are in case you run into a problem with the IRS.  Important Taxpayer Rights The Taxpayer Bill of Rights, which the IRS adopted in 2014, … Read More

New IRS Tool to View Tax Balance

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DFW Tax Advice: Why You Might Not Get a Refund This Year

The IRS has announced the launch of a new online tool to help taxpayers. This new IRS.gov tool allows taxpayers to view their tax account balance online. The balance includes any amount owed for tax, as well as penalties and interest for each tax year. Once you look at your balance, you can take advantage of online payment options. These include direct pay, … Read More

An Intro to Trump’s Tax Plan

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DFW Tax Advice: Why You Might Not Get a Refund This Year

What do you know about president-elect Donald Trump’s tax plan? For starters, he has proposed the largest tax cuts since Ronald Reagan. If Trump were to get everything he has proposed from a Republican-controlled Congress, a taxpayer who makes between $48,000 to $83,000 a year would save about $1,000 under his plan, said Howard Gleckman, a senior fellow at the … Read More

A New Tax Notice Scam

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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

Deducting Your Car As a Business Expense

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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

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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