Posts Tagged Texas

Sales and Use Tax: Hurricane Harvey Tax Relief Measures Discussed

Businesses not required to report their sales and use taxes electronically (less than $50,000 paid in preceding state fiscal year) are granted an automatic 30-day extension to file the August monthly report, normally due September 20, and the third quarter report, normally due October 20, provided they…

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Tax Relief for Victims of Hurricane Harvey in Texas

The IRS announced that affected taxpayers in Texas will receive tax relief with extended upcoming filing deadlines for extended tax returns and estimated tax payments, and penalties associated with payroll deposits. Individuals who reside or have a business in Aransas, Bee, Brazoria, Calhoun, Chambers, Fort Bend, Galveston,…

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Sales and Use Tax: Local Rate Changes for Fourth Quarter 2016

The following Texas local sales and use tax rate changes take effect October 1, 2016. Adopted City Tax Dish (Denton County) adopted a 2% city sales tax rate, resulting in a combined (state, county, city, transit, and special purpose district) tax rate of 8.25%. City Tax Rate…

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Texas Disaster Relief Notice (June 22, 2016)

Disaster relief: Presidentially declared disaster area: Texas: Severe storms and flooding Victims of the severe storms and flooding that took place beginning on May 26, 2016 in parts of Texas may qualify for tax relief from the Internal Revenue Service. The President has declared that a major…

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Tax Relief Provided for Victims of Severe Storms, Tornadoes, Straight-Line Winds and Flooding in Texas

Victims of severe storms, tornadoes, straight-line winds and flooding that took place beginning on October 22, 2015 in parts of Texas may qualify for tax relief from the IRS. The president has declared the counties of Bastrop, Brazoria, Caldwell, Comal, Galveston, Guadalupe, Hardin, Harris, Hays, Hidalgo, Liberty,…

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IRS Issues Guidance on Employer 401(k) plan Rollovers to Roth IRA Accounts

The Internal Revenue Service has issued guidance for employers whose 401(k) plans offer Roth IRA accounts for the rules governing rollovers by participants younger than retirement age. The key part of the IRS guidelines explains that any rollover made before a participant reaches age 59½ must be…

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The Entrepreneur’s Corner – Taking You and Your Business to a New Level in 2014

The energy is in the air….2014 is the year of prosperity for Entrepreneurs!   If you have a business or have been thinking about starting your own business this is the year to make it happen.  Don’t wait one minute longer!! Take the next step and make the change…

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3 Things to Monitor in 2014 for your Tax Planning

As we begin the New Year, there are three priority areas that are critical to monitor and keep abreast of: The Affordable Care Act; the Defense of Marriage Act; and IRS activity. While these are areas of interest that many businesses are already familiar with, 2014 is…

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