For Texas residents who own property in multiple countries, the foreign tax credit helps to reduce the double tax burden of foreign source income. There are many rules for the foreign tax credit, including how foreign taxes qualify or the qualifying tests. Qualifying...
How to prepare your business for an IRS audit
In Texas, getting audited by the IRS often seems like a nightmare, but if you're a business owner, it's something that you should prepare yourself for. The good news is that there are steps you can take to make the process as smooth as possible. What is an IRS audit?...
Income tax differences when moving state to state
Every state and local jurisdiction has a unique collection of tax laws. In some states, the income taxes are more expensive, and in others, there are no income taxes at all. People who move from Texas to another state need to get a good idea of how taxes are...
The Earned Income Tax Credit (EITC) has expanded
It's almost tax time again, and you may not want to leave money on the table. Residents of Austin and other nearby areas of Texas may want to learn about recent changes to the tax law for 2022. These changes will make more Americans eligible for the Earned Income Tax...
