2024 Tax Deadlines
Click to read a quick list of important dates and deadlines for the 2024 tax year including payment deadlines, report filings, etc.
Tax Tips
A Comprehensive Guide to Deductible Business Expenses: Unlocking Tax Savings
Introduction Understanding deductible business expenses is crucial for maximizing tax savings and boosting profitability as a business owner. By effectively identifying and categorizing deductible expenses, you can reduce your taxable income and potentially save a significant amount on taxes. In this blog post, we will explore the concept of deductible business expenses, highlight common categories, …
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Should I collect sales tax in Texas?
Did you recently start a business selling products or providing services in Texas? You may need to collect sales tax from your customers. Read this article to see if what you sell or provide is subject to sales tax in Texas.
What is a mega backdoor Roth and how can I contribute to one?
A mega backdoor Roth IRA is a strategy that allows individuals to contribute additional after-tax funds to their 401(k) plan beyond the regular annual contribution limits, Read here to see how to perform this contribution.
Why high net worth individuals should stop attempting a backdoor Roth like they used to
The averaging rule is an IRS rule that applies to any conversion of Traditional IRA funds to a Roth IRA. This means taxpayers can no longer perform the backdoor Roth like they have been in the past.
How to qualify as a real estate professional on your tax return
If you own rental property or are involved in real estate investments, you may be able to take advantage of the tax benefits associated with being a real estate professional. However, in order to qualify as a real estate professional under IRS rules, you must meet certain requirements. In this article, we will discuss the …
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QCD – if you are approaching retirement age, stop donating to charity
Qualified charitable distributions are a way for people over the age of 70.5 to donate to charity in a tax efficient way. Making charitable donations efficiently in a tax efficient way means you can save more for personal use or even just donate more to the charity of your choosing. Here’s how it’s done and …
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Did I accidentally work on Donald Trump’s Personal Tax Return?
If you’ve seen any major news outlet in the past week I’m sure you’ve seen the buzz about Donald Trump being asked to release copies of his personal tax return to the public. It has now become public that the CPA firm – BKM Sowan Horan LLP was the preparer of the former president’s tax …
Did I accidentally work on Donald Trump’s Personal Tax Return? Read More »
2023 Tax Deadlines
Click to read a quick list of important dates and deadlines for the 2022 tax year including payment deadlines, report filings, etc.
How to make an Estimated Tax Payment to the IRS
Click to read the quick step by step on how to make your estimated tax payment to the IRS online. Refer back to this page each time you need to make an estimated payment.