Medical Billing
Mar
27

Texas Comptroller Delays Implementation of New Policy Regarding the Taxability of Medical Billing Services Until After 2021 Legislative Session Last week, the Texas Comptroller issued an important memo regarding the taxation of medical billing services. The memo is dated March 19, 2020 and follows up on a prior memo dated November 19, 2019, which had...
Three Opportunities to Consider Given the Current Market Environment
Mar
05

The current market environment could provide an opportunity to refinance your mortgage, rebalance your portfolio, or relook at your excess cash.   Some of you may have read our market update last week concerning the developing coronavirus situation. While the impact of its effects remains unknown, rest assured that we will continue to monitor...
Medical Billing
Feb
27

Update:  Texas Comptroller Delays Implementation of New Policy Regarding the Taxability of Medical Billing Services Until After 2021 Legislative Session.  Read more. The Texas Comptroller has issued guidance stating, as of April 1, 2020, medical billing services will be subject to sales and use tax, falling under the definition of taxable...
Market Update - Coronavirus
Feb
26

At the time of this writing, the Centers for Disease Control (CDC) warned that Coronavirus (COVID-19) is likely to spread in the U.S. Right now, companies and the analysts that follow them are trying to figure out the implications of Coronavirus and the impact it will have on their businesses. Companies producing and selling products in China have indicated...
FBAR
Feb
10

Taxpayers With Undisclosed Foreign Accounts and Activities Beware: The IRS and Other Taxing Authorities Are Coordinating Efforts to Tackle International Tax Evasion U.S. citizens, resident aliens and certain nonresident aliens are required to report worldwide income from all sources, including foreign accounts, and pay taxes on income from those accounts...
Taxation of Cryptocurrency
Feb
06

The IRS recently issued new cryptocurrency guidance and is intensifying its efforts to identify taxpayers who bought or sold cryptocurrency and didn’t report it on their tax return.  The following is a brief overview of the clarifications made. What is the tax treatment of Cryptocurrency transactions? For tax purposes, cryptocurrency is treated...
SECURE Act Update 2
Jan
15

The SECURE Act is the largest change to corporate retirement plan laws since the Pension Protection act of 2006, so if you are a business owner, help operate your company’s retirement plan or a CPA there are a lot of changes to be aware of. The change to retirement plans generally fits one of three themes, which is how this article will be organized....
Secure Act Update 1
Jan
09

Non-Spouse Beneficiaries The Act does away with the ability to “stretch” required minimum distributions (“RMDs”) over their lifetime.  This is not retroactive, so it will not affect beneficiary IRAs already in existence, only those created on or after 1/1/2020.  This means that starting this year, beneficiaries who inherit IRA monies will now...
Hindsight Is 20/20. Foresight Isn’t.
Dec
10

The year 2019 served up many examples of the unpredictability of markets. Interest rates that US policy makers expected to rise fell instead. American consumers’ confidence weakened as the year began,1 and news headlines broadcast fears of an economic slowdown. But investors who moved onto the sidelines may have missed the gains in the US stock...
Timing Isn't Everything
Nov
20

Over the course of the holidays, it’s not unusual for the stock market to be a topic of conversation at a dinner party or other social gatherings. A friend or relative might ask about which investments are good at the moment. The lure of getting in at the right time or avoiding the next downturn may tempt even disciplined, long-term investors. The...