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Annual Inflation Adjustments for 2022
As the end of 2021 grows near, many Americans around the country are looking forward to welcoming 2022 New Year.  As of Wednesday November 10th, the IRS released their annual inflation adjustments for the 2022 tax year, including tax rate schedules, tax tables and cost-of-living adjustments.

The Future of IRS Service Levels
It isn’t a surprise to know that dealing with the IRS is never a walk in the park.  From long hold times while on the phone, to disconnected and unanswered calls, many taxpayers & CPAs alike have expressed their frustration with the current IRS service levels this past tax season.

Be Aware of Late Filing & Payment Penalty IRS Notices
Reminiscing back to February 11th of this year, the State of Texas witnessed a blistering winter storm like never before. The last thing on taxpayers’ mind was that of a tax deadline.

Increased Tax Audits are on the Horizon
On May 28, 2021, Biden announced his plans to seek $6 trillion in federal spending for the 2022 fiscal year to invest in the country’s deteriorating infrastructure and economic reform.

Obamacare Survived Again
On June 17, 2021, The U.S. Supreme Court issued a 7-2 ruling that keeps the Affordable Care Act (ACA) alive.

2021 Advanced Child Tax Credit Payments
Starting in July, millions of families across the U.S. will be eligible to receive advanced payments from the 2021 child tax credit thanks to the American Rescue Act, which was signed into law in March 2021.

Should You File Protective Claim For A Refund For 2017?
The Supreme Court has agreed to hear the court case California v. Texas regarding the constitutionality of the Affordable Care Act, now that the individual mandate has been eliminated. If the Affordable Care Act is declared unconstitutional, then federal income taxes paid based on this and its associated legislation may be declared refundable.

The American Rescue Plan Act of 2021
On March 11th, 2021, President Biden signed into law the American Rescue Plan Act, one of the largest stimulus packages ever approved.

Employee Retention Credit, Changes to PPP & the New Stimulus Bill
As many Americans across the nation ponder over the day when the world can return to normalcy again, millions of Americans and businesses alike continue to struggle with the devastating effects of the Corona virus pandemic.

IRS Extends Upcoming Deadlines
Victims of this month’s winter storm in Texas have more time to file their federal taxes.

Paycheck Protection Program – Round 2
The second round for the SBA – Paycheck Protection Program has arrived for business owners. Business owners who did not apply for a PPP loan the first time around, are now eligible to apply, along with second time borrowers who need the additional assistance.

Standard Mileage Rates Decrease for 2021
The IRS has issued the standard mileage rates for 2021 (Notice IR 2020-279).

Consolidated Appropriations Act, 2021
The U.S. Senate and House of Representatives have passed a $900 billion COVID-19 relief bill.

Paycheck Protection Program: Gearing Up for Round 2
The Paycheck Protection Program ended August 8th, and the SBA concluded its acceptance of PPP applications.

Inflation Adjustments for 2021
As the end of 2020 grows near, many Americans around the country are planning for the 2021 New Year.  As of October 26th, the IRS released their annual inflation adjustments for the 2021 tax year.

IRS Collection Notices
The Internal Revenue Service is kicking it back into gear as we enter the last few months of the year after encountering the same difficulties that we all have been facing throughout this year’s pandemic.

Year End Tax Planning
2020 has brought its fair share of economic and financial struggles across the globe due to the Covid-19 pandemic forcing many individuals and business owners alike to re-evaluate their financial situation and how they operate their businesses moving forward.

 

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:

MapQuest
Maps, directions, and travel guide.

Houston Business Journal
Business information and news of the community.

Certified Public Accountants and Consultants