A letter or phone call from the Internal Revenue Service is one thing that brings an immediate blood-pressure jolt to almost any business owner or individual in Texas. Though IRS issues such as audits or collection activities are very serious matters, it is important to ensure you are actually … [Read more...] about Scams using power of the IRS are still prevalent and spreading
Some Texas farmers may need to worry about estate tax planning
Individuals who live in Texas don't face a state-levied estate tax, but that doesn't mean that estate transactions are without tax burdens. This is especially true for estates that are valued at high dollar amounts. This includes farms. The current exemption on estate taxes at the federal level … [Read more...] about Some Texas farmers may need to worry about estate tax planning
Internet tax law: Could your bandwidth increase your tax burden?
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?
Effective tax administration: Even cities aren’t immune to audits
There's a reason that business owners and individuals in Texas and across the country dread the prospect of an Internal Revenue Service audit. The power of the IRS is impressive --and possibly frightening, depending on your situation. A case in another state illustrates the fact that even cities are … [Read more...] about Effective tax administration: Even cities aren’t immune to audits
Weekend-long state tax change saves consumers money
Residents across Texas may be excited to hear that the annual state sales tax holiday will be returning in 2014. It's not often that tax news comes with the opportunity for savings, which makes the weekend-long state tax change a bit of positive financial news for many families. As with previous … [Read more...] about Weekend-long state tax change saves consumers money
Could stock sales be part of estate tax planning?
Estate taxes come from various levels, and only relatively large estate holders usually have to worry about federal estate taxes. For one set of heirs, changes in stock pricing between the death of a billionaire and the date of estate valuation could mean huge savings on estate taxes. Sales of the … [Read more...] about Could stock sales be part of estate tax planning?