Before you close this year's tax file there is still some work to do. If the IRS or state revenue department selects your return for review, you will need to be prepared. Here is what you need to do now: Keep a copy of your Form 1040 indefinitely. Do not toss or destroy any of your

Building and maintaining a successful business is a complex and challenging process.  From navigating partnerships and negotiating contracts to interacting with shareholders, customers, and vendors, there is always room for conflict to arise.  When business disputes escalate beyond the point of negotiation, forensic accounting often plays a key role in uncovering the truth and

Here are some of the common causes Wondering why your tax return is not finished? The delay can often come from one or two items that were overlooked and are needed to complete your tax return. Here are some of the most common: Missing statements. This includes all W-2s and 1099s, including any related to

Here are seven tax topics that seem innocent but can cause problems if not handled correctly.   1. Gambling winnings. If you receive a tax form at a casino for your winnings, that information is sent to the tax authorities. Since the form typically only contains the amount you won, save copies and records of any

If you own a business, either wholly or in partnership, it is safe to assume that at some point in time you will need to obtain a business valuation.  Whether you plan to sell your Austin company, seek funding from lenders or investors, or expand its offerings through a strategic merger or acquisition, understanding the

No Austin business is completely safe from financial crime. Regardless of their size or industry, companies fall prey to fraud and embezzlement every day.  This type of illegal activity can potentially cripple an enterprise from the inside out, causing damage in the form of financial losses (both direct and as the result of legal

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

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.

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

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