Texas Tax Talk

Texas Tax Talk

Category Archives: Tax Planning

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Top Ten Tax Mistakes for Restaurant Owners

Posted in Tax Planning
If you are thinking about getting into the restaurant business there are a multitude of issues that you need to consider. One of the most important is taxes.  By this I mean, doing the appropriate advanced planning and also running the business properly. Here is my top ten list of mistakes restaurant owners make: Employee… Continue Reading

Opportunity for Retroactive 2012 Gift from IRA to Charity: But You Must Act Before February 1, 2013

Posted in Tax Planning, Uncategorized
The American Taxpayer Relief Act of 2012 (“TRA 2012”), passed by Congress and signed into law by the President on January 2, 2013, prevents many of the tax hikes that were scheduled to go into effect in 2013 and avoids the “fiscal cliff”.  The TRA 2012 also retroactively extends the IRA Charitable Rollover which expired… Continue Reading

Act Now to Avoid Paying More Tax

Posted in Tax Planning
My colleague at Looper Reed, Jason Luter, wrote a great article about the implications of the fiscal cliff on executive compensation and planning opportunities, I have copied it below:   ACT NOW TO AVOID PAYING MORE TAXES By Jason Luter, Looper Reed & McGraw One of the implications of the so-called “fiscal cliff” is higher income taxes… Continue Reading

Can I deduct my losses from Hurricane Sandy?

Posted in Tax Planning
Not surpisingly, the IRS has announced  that  areas affected by Hurricane Sandy in Connecticut, New Jersey and New York will receive tax relief. This generally means delayed filing and payment deadlines.  However, people should also be aware that if they have suffered personal losses  – a tax deduction is available for those losses from fires, storms, car accidents, and similar… Continue Reading