Few things bring a business owner’s blood pressure up like the thought of tax time. Between the receipts to go through, the surprise of what they will owe, and the hours it takes to gather annual income information, it’s just not a fun prospect for most business owners. But as aCPA, I know it doesn’t have to be like that. … Read More
Last-Minute Tax Tips From Tax Reduction Specialist
For those who wish to file by April 17, the pressure begins to build around now. Before the race gets heated here shortly, you may want to learn how last year’s tax reform changed things. You’ll be dealing with some of the biggest changes in a generation, so prepare. Besides fundamental restructuring like the elimination of exemptions, there are more … Read More
Flower Mound CPA: Real Estate Professional Tax Tips
Whether you’re preparing your taxes on your own as real estate professional or having a tax strategist CPA help you, here are some tips: Don’t forget your mileage. Many real estate agents leave money on the table when it comes to their mileage. Depending on where you work on a regular basis, the tax deduction may include attending meetings, putting … Read More
DFW Tax Advice: Why You Might Not Get a Refund This Year
Tax season is here. If you’re like many people, you may look forward to receiving a sizable income tax refund each year. You might even have plans for how you’ll spend the money before the refund ever shows up. Unfortunately, for some taxpayers, the refund they anticipate will never arrive. Just because you received a refund last year (or even … Read More
Flower Mound CPA: Where’s My Refund?
Early February is one of the busiest times for people doing their taxes. Are you someone who can’t wait to get your hands on your refund? Well, we can tell you how soon you will probably get that refund. The tax reform law officially kicked in on January 1, 2018. The taxes you file from January through April 15, 2019 … Read More
DFW Tax Strategy: Save Taxes Right Now
1. Figure out whether it makes sense to itemize One of the most important decisions you’ll make when you file taxes is whether you should itemize your deductions or claim the standard deduction. The standard deduction was nearly doubled by tax reform and is going up again. Even if you’ve always itemized in the past, don’t assume you’re going continue doing so in … Read More
DFW Tax Strategy: How Small Businesses Can Hold Onto Money
Most small biz owners don’t have backgrounds in finance. However, that doesn’t mean they can afford to avoid the administrative tasks that come with running a company. We face massive variation in the cost of goods and services. A $100 million agency that sends $90 million out the door on projects can’t afford to pay $15 million in salaries. Rent, … Read More
Real Estate Tax Experts: Property Tax Tips
Property tax is a tax on real estate and sometimes other property which you own. Local governments typically assess property tax. The amount of property tax you owe is largely based on where the property is and how much it is worth. Calculating your property tax Property tax is typically determined by multiplying the value of the property by a tax … Read More
Dallas CPAs On Best Ways to Preserve Wealth
Making money is only half the battle. Keeping it is the other half. Yet if you read financial sites, far more than 50 percent of the articles are about ways to generate income. Saving money doesn’t make for great headlines, but it’s vital to your long-term success. With that in mind, let’s discuss a few important ways that can help … Read More
Real Estate CPA: How Investing Can Help Save You Taxes
The Tax Cuts and Jobs Act has changed our finances and the profitability of investments. Much of the press coverage around the new rules has been on its drawbacks. However, some positive financial opportunities exist for those who educate themselves and act on new breaks. The new tax law both protects some crucial breaks and provides new ones. Some of … Read More