Happy and excited to receive a big tax refund check, think again… That’s because receiving a big tax refund is actually a bad thing… A big tax refund indicates you are paying too much in taxes…. The # 1 mistake which most taxpayers make is overpaying taxes. A big tax refund signals unplannedRead more about Happy to receive a big tax refund, think again…[…]
Are you looking for payroll tax services in Texas? Payroll Services in Texas Below is some useful payroll state tax information in Texas. New hire /employee reporting requirements in the state of Texas Within 20 days of employment, employers need to report new hire : ENHR Operations Center P.O. Box 149224 Austin, TX 78714-9224Read more about Are you looking for payroll services in Texas?[…]
How much does it cost to set up an LLC in Texas? An LLC is a limited liability company similar to a private limited company that can be established in the United States. LLC is a hybrid type of an entity that has characteristics of a corporation and also has pass-through taxation similar to partnershipsRead more about How much does it cost to setup an LLC in Texas?[…]
How to form an LLC in Texas? Below are list of steps to form an LLC in Texas. Name availability of your LLC: As per State of Texas Laws, the LLC must contain the words “LLC”, “Limited Liability Company” or “Limited company”. They may be abbreviated as “LTD”. We highly recommend that you pickRead more about How to form an LLC in texas ?[…]
Advantages of filing taxes online Advantages of filing taxes online There are many advantages of filing your taxes online. Greater accuracy : One of the biggest advantages of filing your taxes online is greater accuracy. Most of the software used currently by tax professionals are advanced, allowing them to focus more on finding those taxRead more about Advantages of filing taxes online[…]
Advantages of S corporation S Corporation A business may elect to be an S Corporation (S Corp) by filing form 2553. This will provide additional tax benefits for the S Corporation as there is no taxation at the corporate level. All profits and losses will pass through at the shareholder level. Restrictions on S Corporation The followingRead more about Advantages of S corporation[…]
Five tax credits for a bigger 2017 refund Tax credits help reduce the amount of tax you owe. A refundable tax credit allows you to reduce your overall tax liability and it can also result in a refund. Child Tax credit: You are eligible to receive up to $1,000 on your tax return. YouRead more about Five tax credits for a bigger 2017 refund[…]
10 Business tax deductions not to miss this tax season 1)Business Startup expenses – Startup expenses that are up to $5,000 can qualify for a valid business deduction. This can be taken as a business deduction the same year. This covers legal and company formation fees paid in connection with creating/ acquiring another business. If costs exceed $5,000,Read more about 10 Business tax deductions not to miss this tax season (2017 tax year)[…]
What is your consulting practice worth today? Overview of consulting businesses Consulting businesses are knowledge-based businesses. Today, there are many consulting firms in niche industries eg: healthcare, government, information technology, human resources etc. Consulting companies are service-based businesses. Therefore, they may be relatively easier to value as compared to other product based businesses. They also have relativelyRead more about What is your consulting practice worth today?[…]
Who can you claim as a dependent on your tax return? This is the most important question on every taxpayer’s mind at the time of tax filing. So, below are few basic rules for adding dependents on your tax returns : There are 2 types of dependents who may be claimed on your taxRead more about Who can you claim as a dependent on your tax return?[…]
