Estate Tax – Gift Tax – Trust Tax – CPA Accountant Houston You are the executor (administrator) of a will You are in the process of writing or updating your will You are setting up your estate and trust It doesn’t matter whether you think the federal estate tax will be minimal or whether you have an estate tax return form… Read More

  Houston CPA – IRS Casualty Loss Deduction- Impacted by Hurricane Harvey The following counties have been designated as federal disaster areas: Aransas, Bee, Brazoria, Calhoun, Chambers, Fort Bend, Galveston, Goliad, Harris, Jackson, Kleberg, Liberty, Matagorda, Nueces, Refugio, San Patricio, Victoria, and Wharton. If you are resident of the aforementioned counties and have experienced a loss due to… Read More

Houston 2017 due dates for 2016 Tax Extension Returns Fast Approaching Over 10 million taxpayers apply for a tax extension every year. While a tax return extension for the 2016 tax filing deadline gives Form 1040 filers an additional six months to get their tax forms and filings together, they still need to complete their 2016 tax return by the extended tax deadline.… Read More

Small Business – CPA Accountant Houston – 2016 IRS Federal Tax Return     Sean K. Butler, CPA, LLC, a Houston accountant, provides a full array of accounting and tax services for professional small businesses. He will help sort through your liabilities, assets, and deductions such as self-employed business expenses, small business deductions, small business write-offs, and small business revenue. Specializing… Read More

Tax Planning What does the term “tax planning” mean to you? Does it mean saving your receipts and keeping track of your expenses and income? Or is much more than that? The answer is yes. It is much more than just keeping track of your income and expenses. Tax planning is the practice of effectively… Read More

  Oil and Gas Accounting: Tax Depletion What is oil and gas tax depletion? Depletion is “the process of associating the capital costs of finding and producing minerals with the production of the minerals.” Uh huh….so what does that mean? Oil & Gas Accounting rules say that you must capitalize all of the costs incurred to… Read More

  Texas Franchise Tax Business taxes are not only costly to growing businesses, but as with other taxes, have a tendency to be confusing.  Take for instance Texas Franchise Tax. The most common understanding of the word, “franchise,” is a business who buys the right to use the branding, systems, proprietary knowledge, processes, and the… Read More

Requesting IRS Penalty Abatement CPA Firm Houston It is safe to assume that most taxpayers dislike paying taxes and hate paying IRS penalties, especially when the penalties seem unjust. While penalties can also seem arbitrary to taxpayers, IRS policy is clear and deliberate on their reason for existence: to deter taxpayer noncompliance, not to generate… Read More

  1099 Reporting for Attorneys Most attorneys know that Forms 1099 are issued in January for the prior year with a copy sent to the IRS, but many attorneys are not familiar with their 1099 reporting requirements. Contingent fee attorneys are most at risk when it comes to penalties and tax issues related to failure… Read More

  What is a 1099 and who must send Form 1099 to others? There are two cases: Businesses. You must report payments to others for services. “Nominee” amounts. If you are named as receiving income, but part of the income belongs to another, you are a nominee. You must send Form 1099 to the other… Read More