annie and woman at frost bank tax lunch provided by afairchild pc

Tax Lunch With Frost Bank

FROST Bank hosted a tax lunch (Thursday, Nov 15th) with Annie Fairchild CPA as the guest speaker. 90 people joined us to learn how the new tax law will impact them in 2018. (see picture of Karen Hunt, Frost Bank Coppell, Market President and Annie Fairchild)

8 Reasons to Attend the Last Tax Seminar

8 Reasons to Attend the Last Tax Seminar LINK to Invitation There are many reasons for you to be at our FREE tax seminar. Read below to see the best reasons to attend. Click the link above for the flyer invitation with links to RSVP. You missed the previous seminar Learn how the IRS views “reasonable compensation” and how it …

Two tax law changes that may affect your business’s 401(k) plan

When you think about recent tax law changes and your business, you’re probably thinking about the new 20% pass-through deduction for qualified business income or the enhancements to depreciation-related breaks. Or you may be contemplating the reduction or elimination of certain business expense deductions. But there are also a couple of recent tax law changes that you need to be …

Choosing the best business entity structure post-TCJA

For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C corporations were taxed at rates as high as 35%. The TCJA also reduced individual income tax rates, which apply to sole proprietorships and pass-through entities, including partnerships, S corporations, and, …

Assessing the S corp

The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses are eligible – and, with the new 21% flat income tax rate that now applies to C corporations, S corps may not be quite as attractive as they once were. Tax comparison The …

Do you qualify for the home office deduction?

Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office deduction may still be available to you. Home-related expenses Homeowners know that they can claim itemized deductions for property …

7 Reasons to Attend our Tax Seminar

Link to Invitation There are many reasons for you to be at our FREE tax seminar. Read below to see the best reasons to attend. Click the link above for the flyer invitation with links to RSVP. 1. Learn tax planning tips for maximizing your 199A credit that MUST be taken by the end of 2018 2. Learn how your …

An FLP can save tax in a family business succession

One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start transferring ownership is long before the owner is ready to give up control of the business. A family limited partnership (FLP) can help owners enjoy the tax benefits of …

Can you deduct business travel when it’s combined with a vacation?

At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might not be eligible for the deduction you’re expecting. General rules Business travel expenses are potentially deductible …

IRS Audit Techniques Guides provide clues to what may come up if your business is audited

IRS examiners use Audit Techniques Guides (ATGs) to prepare for audits — and so can small business owners. Many ATGs target specific industries, such as construction. Others address issues that frequently arise in audits, such as executive compensation and fringe benefits. These publications can provide valuable insights into issues that might surface if your business is audited. What do ATGs …