Tis the season of giving gifts and putting a smile on the faces of those you care for. If you are thinking of giving a substantial monetary gift, you should be aware of the tax implications beforehand.
Up … Read More
Congratulations on your bonus! As 2019 comes to a close, many employees will be receiving a supplemental wage or cash bonus at year-end. Before you start thinking about what you are going to spend it on i.e. holiday gifts, there … Read More
As 2019 has entered its final two months, most taxpayers have already filed their 2018 income tax returns. Those taxpayers residing in Harris County and surrounding counties were given until January 31, 2020 to file their 2018 returns, due to … Read More
Over half of the month of May is behind us and for many of you, that means it has been over a month since you thought about the filing of your 2018 federal income tax return. For those of you … Read More
Have you ever asked the age of a young child whose fifth birthday is in his rear view mirror? Because that child eagerly looks forward to attaining the age of 6 years old, she may tell you she is 5 … Read More
When Congress passed the Tax Cuts and Jobs Act (“TCJA”) in late 2017, it dramatically reduced the income tax rates paid by corporations to a flat rate of 21%. In an attempt to equalize those non-corporate taxpayers, Congress enacted new … Read More
If you have ever heard of the Alternative Minimum Tax (AMT), you know it has been a major issue for decades. Many taxpayers found themselves paying a substantial alternative minimum tax, despite legitimate deductions that would ordinarily subject them to … Read More
When it was almost “That Time of Year” in December of 2017, my partner Rebecca McElroy posted a blog immediately after Congress passed the Tax Cuts and Jobs Act (“TCJA”). Her blog (linked below) had charts illustrating the tax rates … Read More
With the end of January, “that time of year” can mean many things to each of us. Those “New Year Resolutions” are hopefully still in operation. Houston’s swing in temperatures leads to head colds. The federal government still remains partially … Read More
Tax Season is Upon Us, Don’t Fret – You’ve Got This!
It’s that time of year again…as the end of January rolls around it seems all of us are striving to maintain our New Year’s Resolutions, keep up with Houston’s swing in temperatures without getting sick, and begin to dreadfully think … Read More