Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able to time controllable medical expenses to your tax advantage. The Tax Cuts and Jobs Act (TCJA) could make bunching such expenses into… Continue Reading
Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, capital gains, employment and other taxes. But if you receive restricted stock awards, you might have a tax-saving opportunity in the form of the Section… Continue Reading
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, this week’s host, and I’m here today with Danielle Supkis Cheek, a director on our Entrepreneurial Advisory Services Team. Welcome back to the Playbook, Danielle. Danielle: Thank you. Jen: So our Entrepreneurial Advisory Services Team tends to work with startups quite a bit, and… Continue Reading
If your business has made repairs to tangible property, such as buildings, machinery, equipment and vehicles, you may be eligible for a deduction on your 2014 income tax return. But you must make sure they were truly “repairs,” and not actually “improvements.” Why? Costs incurred to improve tangible property must be depreciated over a period… Continue Reading
If you’ve cashed in some big gains this year, consider looking for unrealized losses in your portfolio and selling those investments before year end to offset your gains. This can reduce your 2014 tax liability. But if you want to minimize the impact on your asset allocation, keep in mind the wash sale rule. It… Continue Reading
On Wednesday, January 23rd, PKF Texas and Regions Bank hosted an International Business Forum. During the Forum moderated by Russ Capper, panelists Hector Escobar, Frank Landreneau, Steve Recobs and Joe Ringer discussed what companies need to know if they are doing or want to do business internationally. Below are key takeaways from each panelist. Part… Continue Reading
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