Tag Archives: taxes

Resources for Tax & Accounting During COVID-19

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Burton McCumber & Longoria, LLP, presents a webinar May 20 at 10 a.m. on resources for tax and accounting for businesses. Topics include: Funding status for the Payment Protection Program Applicability of PPP to non-profits PPE tax considerations Families First Coronavirus Relief Act payroll credits The CARES Act and employee retention credits and deferral of payroll taxes Extended tax deadlines Changes to net operating loss rules Changes to retirement plan…

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Tax Strategies to Consider When Selling a Business

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Baby boomers own 2.3 million businesses, according to Project Equity. This nonprofit organization predicts that six out of 10 owners plan to sell their businesses within the next decade. If you’re among this number or a younger-generation owner thinking of selling a business, keep these seven tax considerations in mind. 1. Negotiate everything for the sale of a sole proprietorship If your business is a sole proprietorship, a sale is…

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10 Things to Do to Close Out Your Year

During the holiday season, it’s all too easy to focus on sales to customers (for many businesses this is the peak selling season) and spending time with family and friends. However, taking some time to address certain business matters can help make 2019 an even better year and help you start the new year off right. In the final days of December, here are some actions that can help you…

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Employer Incentives

Free seminar on employer incentives covers topics such as: Americans with Disabilities Act: Common questions posed by employers Work Opportunity Tax Credits Federal Bonding Program State and federal resources available for businesses that hire persons with disabilities State Vocational Rehabilitation Services For more information, call 956-368-5200, ext. 4307, or 956-346-7538. Registration is available online.

Tax Rules for Deducting Interest Payments

It’s common for businesses to borrow money for various reasons … to start up, expand to new locations, buy equipment, launch a marketing campaign. But borrowing usually isn’t without cost: interest payments. To the extent interest payments are tax deductible, they reduce the cost of borrowing. But tax rules on deductibility can be confusing. Business interest is broadly interpreted Business interest is treated differently than other types of interest. For…

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Tax Made Easy: Business with Pleasure

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Attend this Tax Made Easy for Small Businesses workshop to learn: Difference between business vs. pleasure Guidelines for claiming business expenses How vacations can be tax deductible Get answers to all of your tax questions at the end of the workshop by a tax expert. Presenter for the event is entrepreneur Christopher Wycoco. Register online or by contacting the chamber.

Tax Made Easy: Home Office Deductions

Tax Made Easy for Small Businesses workshop includes: What is considered a home office Difference between exclusive and regular use Limitations to the deduction Attendees can also get answers to all of their tax questions at the end of the workshop from tax expert Christopher Wycoco. No cost to attend with RSVP. Registration is available online and also by contacting the Brownsville Chamber.

Tax Tips for Small Businesses

tax tips

Topics include small business tax forms and deadlines, and methods on filing and paying taxes. Attendees also learn personal verses business expenses and more. The free session is presented by tax experts at CAS CPA, LLC in McAllen. “It’s tax time again, and many business owners may have concerns over their small business taxes. Minimizing tax liabilities and taking advantage of tax incentives are vitally crucial to business success, especially…

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VITA Assists With Free Tax Returns

The VITA program will be at STC until March 8 to assist with tax returns.

The Volunteer Income Tax Assistance program is currently offering free income tax service at South Texas College. VITA works in cooperation with United Way of South Texas and the Internal Revenue Service. The program offers free tax assistance to people who make approximately $55,000 or less. The VITA office is open from 11 a.m. – 5 p.m. until March 8 at the Pecan campus portable building #27B on the west side of…

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