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IRS Notice: qualified expenses used against the taxpayers Paycheck Protection Program (PPP) loan, will not be deductible expenses

This notice provides guidance regarding the deductibility for Federal income tax purposes of certain otherwise deductible expenses incurred in a taxpayer’s trade or business when the taxpayer receives a loan (covered loan) pursuant to the Paycheck Protection Program under section 7(a)(36) of the Small Business Act (15

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Coming next week: Get My Payment shows Economic Impact Payment date, helps with direct deposit

To help everyone check on the status of their payments, the IRS is building a second new tool expected to be available for use by April 17. Get My Payment will provide people with the status of their payment, including the date their payment is scheduled to

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IRS News Release – 20 Percent Deduction of Qualified Income

On August 8, 2018, the IRS issued proposed regulations related to the Qualified Business Deduction (Section 199A) which allows for pass-through businesses and sole proprietorships to deduct 20% of their “qualified business income”. Section 199A is complex with many varying facets and limitations to the deduction, including

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What is AMT?

You may not know about the Alternative Minimum Tax because you’ve never had to pay it before. But if you have had to pay it, you may have wondered what in the world it is for and how it is figured. The AMT is an income tax imposed at

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IRS Offers Various Options to Pay Your Tax Bill

If you owe federal tax, the IRS offers many ways to pay. Make sure you pay by the April 18 deadline, even if you get an extension of time to file your 2015 tax return.  Here are some of the ways to pay your tax: Use Direct

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Hours & Location

While our staff continues to maintain office hours during this pandemic, our office building is closed to outside visitors until further notice. Please call or e-mail during our regular office hours, and we will be happy to assist you.
Mon-Th 8:30 am - 5:00 pm
(closed 12 - 1 pm for lunch)
Fri 8:30 am - 12:00 pm
Open all day Fridays during tax season:
Jan. – Apr. 16 and Sept. – Oct. 16
4004 Gateway Dr Ste 180
Colleyville, TX 76034
(817) 545-1277