Tax planning should start today and continue year round.
Tax planning involves structuring your financial situation in the most beneficial, legal manner to maximize profit and reduce your tax liability. Click the button below to read more about our tax planning services.
The fear of owing the IRS is real. However, this government agency will generally allow you to set up a payment plan if you cannot pay the full amount. Also, they do charge interest equal to the federal short-term rate plus three percent. Additionally, the IRS invokes penalties based on the amount owed. Be aware; they do frown upon multiple years of owing taxes and usually want you to figure it out by next year's tax time. The IRS does offer special long-term payment plans for those with higher tax bills.
Tax Extensions Important Dates
April 18, 2022
If you are planning to file for an extension, now is the time to do so before the April 18th deadline.
An extension of time to file your return does not grant you any extension of time to pay your taxes.
You should estimate and pay any owed taxes by your regular deadline to avoid possible penalties.
April 18, 2022
- Deadline for individual tax returns & trust and estate
- Deadline to request six-month automatic extension for individuals & trust and estate
May 15, 2022
- Texas Franchise Tax
Real Estate Accountants & CPAs
Being a real estate professional can be one of the most rewarding (both personally and financially) of enterprises. However, the ups and downs of the market, the meticulous record keeping, and the tedious financial management tasks can drain all of the enjoyment out of your business which, if not approached and handled properly, can limit your potential for financial success. If you are working in real estate, having a reputable CPA for real estate can be one of your strongest assets, providing you with economic stability while helping you grow your business.
We put together a list of common questions our clients have contacted us throughout the year. We are here for you year round, not only at tax time. Asking these small questions, could save you down the road.
Have you checked out our informative video library? We have compiled several educational videos to make it easy for you to view the latest and most accurate information. Click the link below.
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