Our team is waiting for you! Don't lose any part of your wealth to taxation that you don't have to give up. Our services help you manage your current assets and plan for your retirement and your estate with minimal tax liabilities.
* Retirement Planning
* Investment Strategies
* Tax Planning
* Estate Planning
* Life Insurance
* General Financial Planning
If you have questions or would like to discuss any of these services further, please call our office @ 817-430-3000
2. Fill in your name, town/city, and email address. Select NEXT
3. Scroll down to boxes 7,8 and 9 to fill out the nominees:
#7 Bookkeeping - Meagan Smith with Chandler & Knowles CPAs
#8 Certified Public Accountant - Kristina Knowles with Chandler & Knowles CPAs
#9 Certified Public Accountant Firm - Chandler & Knowles CPAs
4. When finished, select NEXT to review your nominations, then select NEXT again to finalize your results. You must select DONE to submit your nomination.
Nominations close July 2nd at midnight. We are grateful to be your CPA firm of choice!
Did You Miss It?
June's webinar discussed powerful tax strategies to optimize your real estate investments. If you missed the live webinar, click on the button below to watch the recording.
Leveraging Real Estate: Smart Tax Moves and Innovative Funding
We’re excited to welcome Derrick Williams to our team as a new Tax Accountant! Derrick is a proud graduate of Southern University and A&M College, a distinguished HBCU located in Baton Rouge, Louisiana. He brings over 20 years of accounting experience. With credentials including CPA, CFS, ABA, and RTRP, Derrick is well-equipped to guide clients through even the most complex tax situations.
Outside of the office, Derrick enjoys spending time outdoors (just not fishing!), hitting the gym, and playing basketball. A loyal New Orleans Saints fan, he brings energy and dedication to everything he does. Fun fact: He’s never peeled an orange!
Is Your Side Hustle a Business or a Hobby?
As side gigs and freelancing become more common, understanding whether your income is from a business or a hobby is important for taxes. The IRS treats them differently, and getting it wrong could cost you.
Business: Profit is the Goal
If you’re working with the intention of making a profit, your side hustle is likely a business.
You can deduct business expenses like supplies and marketing.
Income from your business must be reported on Schedule C.
Hobby: Fun, Not Profit
If you’re pursuing an activity for enjoyment without a clear profit motive, it’s probably a hobby.
You report hobby income, but you can't deduct expenses (unless you itemize deductions on Schedule A).
Why It Matters:
Business = More deductions and lower taxable income.
Hobby = Higher taxable income, no expense deductions.
Not sure how to classify your side hustle? Contact us for guidance and tax planning!
You have questions and we have answers!
It is essential to invest time in addressing strategic consulting and tax planning year-round. Call today to schedule your meeting!
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