Tax Law Changes

Understanding the intricacies of federal and state tax law often comes with a chance to reduce tax burdens, sometimes by a substantial amount. While individuals and even businesses can't be expected to keep up with ever-changing laws, it is important to understand some of the more important issues … [Read more...] about Texas tax law loophole beneficial for farmers

In a 2013 report from the Tax Foundation, Texas fell from a top-ten list of best states for business tax climates for the first time. In this year's report, the state regained its top-ten status by coming in at number ten. In explaining the reason for last year's drop, an economist from the Tax … [Read more...] about Texas is a top state when it comes to business taxes

For many residents of Texas, keeping good track of sales tax paid throughout the year usually results in a reduction of federal income tax burden. With the tax law that allows for a sales tax deduction on federal returns in question, however, residents don't know if they'll be able to take advantage … [Read more...] about Extension on tax law for sales tax deduction still in question

Texas enjoyed an 8 percent revenue growth in the first half of 2014, which is almost double the national average. While growth is good for the state, it also puts resource requirements on state funded programs such as health and education. According to a senior economist with the Dallas Fed, those … [Read more...] about Texas growth may spark state tax law changes

The Texas legislature is currently considering regulation of so-called dark money, and those regulations could change how nonprofits with political agendas or interests do business. According to reports, the regulation may be approved by the Texas Ethics Commission by the end of the year. The … [Read more...] about Texas law change could impact politically active nonprofits

Many Texas residents and business owners may not realize that internet taxation is a possibility. That's because during the past 16 years, Congress has banned an Internet access tax temporarily on three separate occasions. The tax law repeatedly came up for a vote, though, so there was a chance the … [Read more...] about Internet tax law: Could your bandwidth increase your tax burden?