12 02, 2025

Review and Correct Your 1099s NOW!

It's sometime in February and you realize the Form 1099 you received is in error. In fact, it overstates your income by several thousand dollars. What should you do? Gather your facts. Put yourself in the shoes of the vendor, bank or investment company representative. Gather evidence they will need to support your claim to correct

6 02, 2025

Contractor versus Employee: What’s the Difference?

As informational tax forms start flowing in, you are reminded to review the forms and determine the correctness of the form. One of the keys is whether your employer (or contractor) sends you the correct form. Getting it wrong could cost you plenty in the way of Social Security, Medicare taxes, and other employment-related taxes.

17 01, 2025

HydroPro Solutions Recognized as One of Austin’s Fastest Growing Companies!

We are excited to share that our client HydroPro Solutions has been honored by the Austin Business Journal as one of the 40 Fastest Growing Companies in Austin. This prestigious recognition highlights HydroPro’s dedication to revolutionizing the water and wastewater utility sectors with advanced technologies and forward-thinking solutions. HydroPro specializes in: Metering Water Line

15 01, 2025

Attorneys: When Should You Call a CPA for Litigation Support?

In the majority of legal proceedings, money and finances play a prominent role.  Even in cases in which the primary objective is to confront a wrongdoer or put an end to a harmful action, most lawsuits will involve some type of monetary compensation.  When they do, having an experienced CPA on your side is paramount

19 12, 2024

Gone Phishing?

Each year the IRS publishes the top dozen tax scams it encounters over the prior year. One of them that makes an all too common appearance on their list is the phishing scam. Here is what you need to know. Phishing requires bait Phishing is the act of creating a fake e-mail or website that

17 12, 2024

Forensic Accounting 101: Investigating Irregularities and Identifying Red Flags

Every day, individuals and businesses engage in financial misconduct.  This is as true in major cities like Austin as it is in rural areas throughout the country, and it may be something as simple as hiding assets during a divorce or as complex as engaging in a large-scale money laundering scheme.  Whatever the scope, these

16 12, 2024

Why Proper Accounting Controls Are Critical to Your Business

As a business owner, you have invested a considerable amount of time, money, and energy into creating and managing a successful enterprise. Why jeopardize everything you worked so hard to build by dropping the ball when it comes to your financial recordkeeping?  Having a comprehensive framework of internal accounting controls in place is critical to

16 12, 2024

An Ounce of Prevention: Business Partner Separation Case Study

When you and your business partner first started laying the groundwork for your future enterprise, you likely never envisioned a time when the two of you would be parting ways. However, because 70% of all business partnerships fail, it is critical to have a contingency plan in place in case things go south.  Like any

12 12, 2024

Court halts BOI reporting; AICPA urges preparedness

Court halts BOI reporting; AICPA urges preparedness A federal district court, finding that the Corporate Transparency Act (CTA) is likely unconstitutional, issued an order Tuesday prohibiting the enforcement of the CTA and the beneficial ownership information (BOI) reporting rule in the CTA’s accompanying regulations. The injunction, which according to the court should apply nationally, was

5 12, 2024

Tax Shifting Ideas to Reduce Your Bill to Uncle Sam

Is there a taxable income reduction idea you can use? Many tax experts talk about shifting your tax burden from one year to the next. While in theory it may make sense, how can you make it work for you in practice? The concept Since the tax code is complex in its construction, there are