Dare I Suggest a Positive Change to Tax Law?
Nearing the tail end of my 13th tax season, I have written numerous articles for the Victoria Advocate covering a wide variety of topics. Many of the articles have focused on taxes, the IRS, and tax law. Few, if any, have been complimentary of the tax code, the practicality of the tax system, or the […]
Financial Prep for Storm Season
If you live anywhere along the Gulf Coast, from Texas across to Florida, keeping an eye on storm forecasts is practically a summer routine. Every year, folks across our region stock up on bottled water, check generator batteries, and make sure window shutters are ready to go. While most of us have our physical prep […]
Small Business Accounting
Throughout my personal life and professional career, I have come to know many proud, hardworking small business owners. The first individual that comes to mind is my father. Although he is retired now, he was once the owner of small-scale fuel and propane distribution company. I vividly remember, even from my youth, how many phone […]
Withholding Review
Most taxpayers see April 15th as the finish line. The tax return is finally filed; the stress fades and taxes are out of mind. At least until next year. But from a CPA’s perspective, May is an advantageous time to make an important tax move to adjust your federal withholding. In May you finally have […]
Out Of Pocket
I have been both out-of-pocket from the office and reached my out-of-pocket over the last few months, having had a baby in late January. Same phrase, same cause, different meanings. Whether you are expecting to have an expensive medical procedure or not, it may be helpful to know the meaning of the second phrase, an […]
“Trump Accounts”: What to Know About the New Savings Accounts for Kids
The One Big Beautiful Bill Act (OBBBA), enacted last summer, introduced a range of tax and investment changes for CPAs, investment advisors, and individual investors. One change you may be hearing more about is the creation of so-called “Trump Accounts” for children’s savings. With several established options already available for saving for minors, it’s natural […]
Tax Season Survival Guide, Part 2: Smart Moves After You File
Now that you have accurately filed your tax return, the next step is to make the most of the outcome of your return. Whether you are receiving a refund or facing an amount due, here is how to use that outcome as a strategic financial planning opportunity. If You are Getting a Refund A refund […]
Tax Season Survival Guide, Part 1: Common Filing Mistakes
Tax season is in full swing and while most are focused on meeting the April 15th Tax Day deadline, it is important to note that accuracy also plays a role in meeting that deadline. Filing errors can cause taxpayers to experience their refund being delayed, unnecessary IRS notices and even penalties. Here are some common […]
Estate Planning for the Family Ranch – Part 2 of 2
For families who have held their land for generations, one question looms heavy: how do we keep the family farm or ranch alive and intact for the ones who come after us? This second article of a two-part series explores a range of contemporary estate planning tools that can help preserve both land and legacy. […]
Estate Planning for the Family Ranch – Part 1 of 2
Many years ago, I spoke at the State Fair of Texas with Dr. Red Duke, a Korean War veteran and legendary figure in medicine. Widely considered the best trauma surgeon in the world, Dr. Duke was the first physician to respond to President JFK following his assassination and immediately after, led the lifesaving surgery of […]