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AustinTaxCPAs
- Jun 21
- 4 min
Stock Options: Statutory Stock Options - ISOs & ESPPs (Part I)
📈 Stock Option: What Is It? The right of an employee, but not an obligation, to buy shares of their employing company stock at a...
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AustinTaxCPAs
- May 25
- 1 min
Charitable Deductions Only Allowed If Taxpayer Meets Strict Substantiation Requirements
Taxpayers may deduct charitable contributions made during the tax years (§ 170(a)(1). Hooray! However, deductions are only allowed if the...
4 views0 comments
AustinTaxCPAs
- Mar 22
- 1 min
April 15 (18th) Tax Deadline Update
A quick note about the April 15, 2022 tax deadline: The official IRS deadline is April 18, 2022, due to a holiday in Washington DC on...
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AustinTaxCPAs
- Mar 1
- 2 min
Filing an Extension: Things to Know
What is it? Filing an extension moves the due date of your return from April 15 to October 15. Extensions are automatically granted by...
37 views0 comments
AustinTaxCPAs
- Jan 28
- 2 min
Meal & Entertainment Deductions: 2021 & 2022 Edition
Congress and their infinite wisdom have left taxpayers with a different set of meals & entertainment rules for pre-2018, 2018-2020,...
67 views0 comments
AustinTaxCPAs
- Jan 25
- 3 min
The IRS Is In Very Rough Shape
The Most Serious Problems Encountered by Taxpayers in 2021 Were Exacerbated by the COVID-19 Pandemic, But They Resulted From Longstanding...
8 views0 comments
AustinTaxCPAs
- Jan 25
- 1 min
Things To Know: Like-Kind Exchanges (§1031 Exchange)
A sale + reinvestment does not qualify You need to exchange one property for another property. This is generally done through a...
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AustinTaxCPAs
- Jan 12
- 1 min
Sample Common Business Forms
IRS EIN Letter/ Form SS-4 Texas Webfile Letter Texas Filing Evidence Sample Operating Agreement
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AustinTaxCPAs
- Dec 6, 2021
- 3 min
Hobby Loss Exposure (IRC §183)
Why does this matter? IRC §183 says that activities not engaged in for-profit receive less beneficial tax treatment than a business with...
29 views0 comments
AustinTaxCPAs
- Nov 30, 2021
- 1 min
The Laws of Tax Planning
Stolen from the Great Peter J Reilly, CPA 1) It Is What It Is. Deal With It. The tax code is illogical. 2) Sometimes It's Better To Just...
5 views0 comments
AustinTaxCPAs
- Nov 9, 2021
- 1 min
COVID Retirement Distribution (2020 Only): How To Qualify
CARES Act CARES Act relief, you qualify for a coronavirus-related distribution if you, your spouse, or your dependent is diagnosed with...
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AustinTaxCPAs
- Aug 3, 2021
- 3 min
Our Partnership With Xpitax
One of the most challenging aspects of owning a CPA firm is hiring from a historically tight and competitive labor market. It creates a...
64 views0 comments
AustinTaxCPAs
- Jul 28, 2021
- 2 min
New For 2021: Advance of Child Tax Credit
From July - December, the IRS is sending taxpayers an advance of their 2021 Child Tax Credit in the form of check or direct deposit What...
41 views0 comments
AustinTaxCPAs
- Jun 10, 2021
- 1 min
Installment Sales - 7 Things to Know
1. Cannot use method if a “dealer" ***A dealer is someone in the business of buy and selling something, so a house-flipper can’t do...
18 views0 comments
AustinTaxCPAs
- Apr 22, 2021
- 2 min
Self-Employed Sick and Family Leave Credits
Paid sick and family leave is available to self-employed individuals. You receive sick pay from the government in the form of a reduced...
34 views0 comments
AustinTaxCPAs
- Mar 31, 2021
- 1 min
A Tax Season Unlike Any Other
There has been a lot going on in the tax world! The IRS has extended the 2020 filing deadline for all taxpayers to May 17, 2021, partly...
26 views0 comments