The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you.

graphic with "COVID-19 Relief Law" and coins and dollar bill

Here are some of the highlights of the Consolidated Appropriations Act, which also contains two other laws: the COVID-related Tax Relief Act (COVIDTRA) and the Taxpayer Certainty and Disaster Tax Relief Act (TCDTR).


Continue Reading What You Need to Know About the COVID-19 Relief Law

Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back once again with Kristin Ryan, an Audit Senior Manager and one of the faces of the PKF Texas Employee Benefit Plan team. Kristen, welcome back to the Playbook.

Kristin: Thanks for having me.

Jen: So, we’ve had a webinar on it, you’ve done some Entrepreneur’s Playbooks on it, but there’s so much to cover between the SECURE Act and the CARES Act. What else do our folks need to know?


Continue Reading More on the SECURE Act and CARES Act

Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back once again with Matt Goldston, a Director in our Entrepreneurial Advisory Services team. Matt, welcome back to the Playbook.

Matt: Thank you, Jen, I appreciate it.

Jen: So, I know we call it the EAS team, I know the EAS team has been working with bankers and our clients on the various intricacies of the Paycheck Protection Plan or “PPP.” How have you been working with banks on PPP-related items?


Continue Reading Navigating Through PPP Loan Forgiveness

Deemed as a riveting presentation from a CFO and SEC registrant attendee, PKF Texas hosted its last Zoom webinar of the year with the SEC niche team, “What’s Next for 2021: Accounting and SEC Reporting Updates,” on December 3, 2020. Audit Director, Chip Schweiger, CPA, CGMA, moderated a panel consisting of speakers:

  • Valerie Frey, CPA,

thumbnail image of a PKF Texas white paper about the November 18 PPP Loan ruling impacting tax planningThe IRS released new ruling and guidance on November 18, 2020 for businesses who received a Paycheck Protection Program (PPP) Loan, Revenue Ruling 2020-27 and Revenue Procedure 2020-51, which clarifies the tax deductibility of expenses related to loans that have not been forgiven.

The PKF Texas team wants to share with you a special

The PKF Texas not-for-profit team hosted its next Zoom webinar, “Forging Ahead: Planning Your Fundraising and Investment for 2021.” Once again, PKF Texas Audit Senior Manager, Nicole Riley, CPA, CFE, moderated a panel, which included Ryan McCauley, Regional Director of Foundation & Institutional Advisory, Northern Trust; and Sara Wise, Senior Consultant, Mission Advancement.

Thumbnail image spotlighting Nicole Riley, Ryan McCauley and Sara Wise for PKF Texas' Zoom webinar “Forging Ahead: Planning Your Fundraising and Investment for 2021"

With 2021

Is your business closing? Unfortunately, the COVID-19 pandemic has forced many to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met.

a sign sitting behind a window with the red words "closed," image used for blog post about business closing during COVID-19 pandemic

Of course, a business must file a final income tax return and some other related forms for the year it closes. The type of return to be filed depends on the type of business you have.

Here’s a rundown of the basic requirements.


Continue Reading The Tax Responsibilities of Your Business Closing

The city of Houston is known for being a giving city, but how has the COVID-19 pandemic affected fundraising for not-for-profit organizations? PKF Texas is a proud sponsor of the Houston Business Journal’s upcoming live philanthropy webinar, and we invite you to join us on Tuesday, October 27, 2020, from 2:00 – 3:00 p.m. for

It would be an understatement to say 2020 has been challenging. Leaders of not-for-profits still standing are justified in having anxiety and worrying about strained budgets and their ability to deliver on their organization’s promises during a pandemic, financial crisis and time of social and political upheaval.

green and yellow paper forming a speech bubble with an ellipses; image used for blog post about easing not-for-profit staffers' anxiety

Staffers are likely to be just as concerned about the future of your organization and its constituents. Understandably given the current high unemployment rate, many are also worried about their own job security. Now more than ever, you need to be as open and transparent as possible.


Continue Reading How to Help Ease Your Not-for-Profit’s Staffers’ Anxiety

If you’re finally done filing last year’s return, you might wonder: Which tax records can you toss once you’re done?

files and books of paper stacked across a shelf; image used for blog post about keeping tax records or throwing them away

October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) Now is a good time to go through old tax records and see what you can discard.


Continue Reading Keep Tax Records or Throw Them Away?