“Extending the 2017 Tax Cuts and Jobs Act is the single most important economic issue of the day. If we do not renew an extension, then we will be facing an economic calamity, and as always, with financial instability, that falls on the middle and working class”, Treasury Secretary Scott Bessent.
One of the primary reasons to file an extension is to avoid penalties that can accrue if you don’t file your taxes on time. By filing an extension, you’re granted more time to gather all necessary documents and information to complete your return accurately
April 15 holds significant weight as the deadline for filing federal income tax returns. This date remains a steadfast marker on the calendar, although it may shift slightly in certain circumstances. Taxpayers are required to file their returns by this date, reporting their income, deductions, and credits for the previous tax year.
One of the perks of owning a vehicle for business purposes is the ability to claim deductions on your taxes.
It involves providing a detailed inventory of your company’s assets, such as buildings, land, machinery, equipment, and inventory, for assessment purposes.
In this blog post, we will explore the key tax considerations and benefits of owning rental real estate, empowering you to make informed decisions and optimize your tax strategy.
Every business operating in Texas is subject to the state’s franchise tax. The franchise tax is levied on businesses in the state, regardless of whether they are corporations, limited liability… Read More »Texas Franchise Taxes: Understanding What They Are and When They are Due
Tax season is always a stressful time for many Americans, and this year was no exception. With the constantly changing tax laws, it’s easy to forget or miss important tax deadlines.
Now that the annual tax deadlines are amongst us, it is important to ensure that your tax filing process goes smooth and stress-free.
It’s that time, April is coming up fast and many people start stressing. Let’s go back to the basics to better understand W-2’s so you don’t have to worry about the word, Deadline.