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Beneficial Ownership Information (BOI)
The Corporate Transparency Act, (CTA), signed into law on January 1, 2021, expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the US.

Tax Relief for Taxpayers Impacted by Severe Texas Storms
On May 28th, 2024, the IRS announced tax relief for individuals and businesses in certain Texas counties that have been affected by the recent severe storms, straight-line winds, tornadoes, and flooding that began on April 26, 2024.

Preparing for the 2024 Tax Season
Tax Season has officially commenced! As of Monday, January 29th, the IRS began accepting tax returns for the 2023 Tax Year.

2024 Standard Mileage Rates
As of December 15th, 2023, the IRS issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. (Notice 2024-08).

Inflation Adjustments for 2024
As the end of 2023 calendar year grows near, many individuals begin to reflect on this past year in efforts to prepare for the 2024 New Year.

2023 Year End Tax Planning Tips
As the end of another year quickly approaches, let’s reflect on some important tax tips that can help reduce a potential tax liability for some taxpayers.

Beneficial Ownership Information Reporting Requirement
The Corporate Transparency Act (“CTA”) was enacted into law as part of the National Defense Act for Fiscal Year 2021.

Texas’ $18 Billion Dollar Property Tax Reform Package
On July 22, 2023, Texas Governor Greg Abbott signed off on a $18 billion dollar property tax reform package for the State of Texas.

Beneficial Ownership Information Reporting
It is no secret that the primary objective of FinCEN is to continuously protect our nation’s financial systems against criminal money laundering activities through extensive financial intelligence and reporting.

Standard Mileage Rates Increase for 2023
On Thursday, December 9th, 2022, the IRS issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes (Notice 2022-234).

Individual Year End Tax Planning
As we wrap up 2022, it’s important to take a closer look at your tax plans and discuss steps that can be taken to reduce taxes and help you save for your future.

Inflation Adjustments for 2023
As the end of 2022 grows near, many individuals begin to reflect on this past year in efforts to prepare for the 2023 New Year.

IRS Late Filing Penalty Relief
With continued efforts to support taxpayers who were affected by the pandemic, the IRS announced on August 24, 2022, that it will provide penalty relief to most individual and business taxpayers who filed a delinquent 2019 or 2020 tax return due to the Covid pandemic.

A Deeper Understanding of the Inflation Reduction Act of 2022
In continuation of our previous newsletter regarding the Inflation Reduction Act (IRA) of 2022, we wanted to provide you with additional details regarding the recently passed bill, known as the IRA, which was signed into law on August 16th, 2022.

The Inflation Reduction Act of 2022
After numerous weeks of grueling negotiations between Senate Democrats and their constituents, the Inflation Reduction Act of 2022 was passed through the Senate on Sunday, August 6, 2022.

Revisiting the Employee Retention Credit
Back in March of 2021, our firm released a newsletter article explaining the advantages of the Employee Retention Credit, Changes to the PPP Loans, and the Stimulus bill that was passed.

Breaking Down Foreign Bank Account Reporting (“FBAR”)
Our newsletters tend to focus on domestic tax filing, so we wanted to dedicate a Foreign Bank Account Reporting (“FBAR”) article to Americans living abroad or U.S. filers with non-U.S. accounts.

Should I File a Gift Tax Return?
In the heat of tax season, we tend to focus only on the returns we have filed in the past while overlooking the possibility of needing to file any other forms.

Revised Standard Mileage Rates
On Thursday, June 9th, 2022, the IRS Announced an increase in the optional standard mileage rates for 2022. (Notice 2022-03)

IRS Letters & Notices
With another tax season behind us, most taxpayers have set aside their tax filing responsibilities until next year.

Estate Planning
Why it’s important

 

Newsletter Archive

Professional Organizations:

AICPA
American Institute of Certified Public Accountants home page.

Silver Fox Advisors
A select group of successful senior executives and entrepreneurs offering years of experience and advice to help build small and mid-size businesses… profitably.

Catalyst Financial
Factoring Texas One Company At A Time home page.

3545 Consulting
National Technology & Business Solutions

R.A. White Architects
Architectural Services Company

Accounting Software Providers:

Quickbooks

     

Sage 50

Sage Software

Other Sites of Interest:

Google Maps
Maps, directions, and travel guide.

Houston Business Journal
Business information and news of the community.

Certified Public Accountants and Consultants