Prevent Identity Theft with an IP PIN
Prevent Identity Theft with an IP PIN Identity theft is at an all-time high with how digital the world has become. To protect yourself within IRS, we highly recommend obtaining an Identity Protection Pin (IP PIN). This six-digit code is now considered best practice for safeguarding your tax return against identity theft. An IP […]
Tax-Loss Harvesting
If investments you sold in 2019 lost money, you may find some solace in the IRS tax code. You can deduct certain losses from your taxable income called tax-loss harvesting when you understand the rules. Here they are briefly: TERMS DEFINED For starters, the IRS has separate tax rates for long-term investments […]
Trusts and Taxes
Ever wonder why people put some or all of their assets into trusts? Some affluent financial consumers use trusts for their estate tax advantages, but anyone can benefit from the privacy and control a trust can offer. Heres what you need to know. TWO BASIC TYPES There are dozens of different types of trusts, but […]
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Working Capital & Your Company
Its one thing to be thrifty if you own your own business, but youll need to open your company wallet if you want to grow your business. Here are some ways to find the working capital youll need. LOOK AHEAD You monitor your receivables regularly to make sure you have enough to reimburse for supplies, […]
Is FIRE Right for You?
A relatively old idea with a new name is gaining increased interest among Millennials. Proponents of FIRE Financial Independence, Retire Early work toward early retirement by reducing spending during their working lives to build the funds needed for future financial freedom. While this austere, strict saving philosophy may not be for everyone, some […]
Tax Issues in Divorce
Divorce is emotionally painful, and it can also hurt financially. From splitting retirement and other assets to negotiating child and spousal support, there are tax and financial landmines that forethought and planning can help you avoid. RETIREMENT ASSETS Retirement plans are often a source of disagreement in divorces. When proper procedures are followed, the transfer […]
Rental Income Taxes
Homeowners in Boerne and New Braunfels may want to consider lowering their tax liability through renting their home to visitors staying in town for popular local festivals. One of our newest tax staff accountants wrote an article for the Boerne Business Monthly on rental income tax. We are very happy to have Mark as part […]
Are Your Lines of Communication Open?
Did you have a chance to read our mangers article in the Boerne Business Monthly in between school shopping? Valerie wrote an educational article in the August 2017 issue on transactions you may be considering and should be communicating with your accountant. Below is an excerpt from the article. Whether your tax filings are completed […]