Month: May 2016

North Texas Immigrant Leaders to be Honored at 2016 Immigrant Journey Awards

Now in its fifth year, the Immigrant Journey Awards recognize the most important contributions from the immigrant community to the civic and economic vitality [...]

Millions Of Taxpayers Will Have A Longer Wait For Tax Refunds Next Year

It’s no secret that tax refund fraud is big business for scammers. The Internal Revenue Service (IRS) estimates it paid $3.1 billion in identity theft [...]

Reasonable Compensation For C Corporation Shareholder-Employees: How Much Is Too Much?

If you decide to set up your business as a C corporation, you have two primary ways of extracting  value from the business on an ongoing basis: you can [...]

Labor Dept Publishes New Overtime and Exempt Status Rules

The U.S. Department of Labor has finalized sweeping changes to the Fair Labor Standards Act (FLSA) overtime rules, extending protections to millions U.S. [...]

Tesla Model X Should Be Eligible For $25,000 Tax Deduction

In addition to state and federal tax credits, the Tesla Model X may be eligible for up to a $25,000 tax deduction known as the “Hummer Tax [...]

Lost your EIN letter – Get a copy of EIN verification letter 147C from the IRS

If you’re a small business owner, you have probably applied for an EIN from the Internal Revenue Service. This number is used when you file tax returns, and [...]

Reducing IRS Penalties

Each year the IRS assesses over 40 million penalties against taxpayers. Of the total number of assessed penalties over 5 million of them are eventually abated [...]

The 5 Biggest Tax Differences Between an LLC and Corporation

Among the many decisions you need to make when launching a business is selecting a business structure. If you do nothing, your business, by default, is [...]

Cleaning Up the Mess Left by DIY Tax Software

More and more taxpayers are turning towards do-it-yourself tax software to prepare and file business and individual income tax returns. With every passing [...]

Tips for Green Card Holders and Immigrants Who are Filing a US Tax Return

Our goal here, on this page, is to provide you with an overview of the tax system here in the United States. So let's start with some basic concepts, get a [...]