Have you Filed your BOI? The Deadline is Quickly Approaching! Contact us TODAY if you Need us to Help. (713) 878-4357 In accordance with the Corporate Transparency Act – which went into effect on January 1, 2024 – many business entities are required to file a Beneficial Owner Information (BOI) report with the Financial Crimes […]
Inside the Loophole – November 2024 – Have You Filed Your BOI? Read More »
Building a Strong Culture A strong company culture will improve a company’s business reputation among customers and stakeholders, including employees. Though difficult to quantify and predict, a strong company culture can lead to better employee retention and productivity. There is an established formula to improving a company’s culture that is simple enough for any business
Inside the Loophole – September 2024 – Leadership and Company Culture Read More »
Education Savings Plan Planning and saving for higher education can be daunting for many families given the rising cost of college. According to The College Board, the average per year cost of an in-state public university is $28,840. That’s more than $100,000 for a typical four-year education. However, there are tools available to families that
Inside the Loophole – Education Savings and Planning – August 2024 Read More »
How to Start a Business No two businesses follow the exact same path from start to launch. However, the following steps are important considerations when determining how to start a business: Developing a business concept Performing market and competitor analysis Securing funding for the business Choosing an entity structure Establishing bank accounts for the business
Inside the Loophole – Starting a Business – June 2024 Read More »
If you’ve entered early retirement, drawing from retirement accounts such as IRAs, 401(k)s or 403(b)s may be your best option to maintain a steady income. However, there are tax and penalty considerations to be aware of before making early withdrawals. We’ll present those considerations here, along with a tax planning technique that can minimize early
Understanding Early Retirement Distributions and Substantially Equal Periodic Payments Read More »
As businesses expand their operations and workforce, they may rely on a combination of employees and independent contractors to carry out day-to-day tasks. And depending on how workers are classified, their relationship to the business is treated differently. Taxation is also handled differently, so it’s important for companies to classify their workers appropriately. Unsure of
Employee or Independent Contractor: Determining Worker Status and Taxation Rules Read More »
Divorce and Taxes: Alimony and Tax Implications Divorce is a challenge for the vast majority of couples, and it’s made more complex by financial entanglement and the presence of dependents. When a marriage is dissolved, assets must be allocated, finances must be separated, and support payments – either alimony, child support or both – must
Divorce and Taxes: Tax and Alimony Considerations Read More »
For frequent donors, charitable contributions can quickly add up to sizable deductions, but the rules can be complex – like most tax rules. There are qualifications to consider – concerning the type of donation and type of receiving organization – as well as giving limits. When itemizing deductions at the end of the tax year,
Charitable Contributions: How to Deduct and What Qualifies Read More »
Thinking about starting a business? There is plenty to do before you can open your doors to customers, and finding a good bookkeeping service and tax professional is at the top of the list. A lot of the pre-launch tasks for starting a business require extensive forecasting and planning. It’s a lot for a new
Starting a Business: A Comprehensive Planning Checklist Read More »
Real Estate Professionals: Qualifying for Passive and Investment Tax Benefits Real estate investment is a popular vehicle for wealth building, but unless a taxpayer qualifies as a “real estate professional,” there are additional tax liabilities to consider. As such, it’s worth it for people working in real estate to determine whether they qualify under the
Real Estate Professionals: Maximizing Tax Benefits Read More »
