Accrual vs. Cash Basis
The two primary accounting methods are accrual and cash basis The main difference between the two methods is the timing of when expenses and revenues are recognized. There are advantages… Read More »Accrual vs. Cash Basis
Entity Formation and Taxation
TIME TO BRING IN THE HARVEST!
If you sold capital assets in 2022 and generated taxable capital gains, it’s a great time to consider harvesting your capital losses to reduce or eliminate the capital gains tax. Below are a few strategies to consider.
Best Entity Selection for Operating in Texas
It’s a great time for many closely held businesses to revisit their entity selection.
Penalty and Interest Relief Available from the Texas Comptroller for a Limited Time
Amnesty temporarily available. Texas taxpayers, now is the perfect time to get caught up on past due reports without incurring penalties or interest. From May 1, 2018 to June 29,… Read More »Penalty and Interest Relief Available from the Texas Comptroller for a Limited Time
New Tax Law. What’s Hot. What’s Not.
What you need to know about the new tax law.
Self-employment Tax Snafoos
“If you are relying on your tiered entities to shelter you from SECA, you may be in for some sticker shock.” ~Mitzi Sullivan, CPA
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