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Resources

Accounting, Tax & Finance Articles

Welcome to our Resources section, where you will find articles on accounting, tax, and finance for businesses and individuals, as well as resources to aid in business financial planning across a variety of industries we serve. Please contact us for personalized advice in accounting and finance. Maxwell Locke & Ritter is here to offer trusted guidance.

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Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples.

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When liquidation is imminent, the liquidation basis of accounting may be used. Here are the factors that go into a going concern assessment.

The new lease standard is intended to account for all lease obligations on financial statements. As you’d expect, implementing the new lease standard changes how we think about and account for individual leases. Learn more about ML&R’s partnership with LeaseCrunch and how this solution can help your business.

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These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted. Fortunately, established rules that generally apply to the deductibility of business costs provide business taxpayers launching a website with some guidance as to the proper treatment of the costs.

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A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax on your gain through a “like-kind” or Section 1031 exchange.

If you are a high-earning small business owner or self-employed individual, a 401(k) or traditional profit-sharing plan alone might not be the best for your money. We explore how a cash balance plan can be a great addition to your retirement strategy, offering larger tax deductions and accelerated retirement savings.

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The Inflation Reduction Act’s Clean Vehicle Credit might alter the timing of purchasing a new or used qualifying electric vehicle. Learn why.

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The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late due to the COVID-19 pandemic. Find out if you might qualify.

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Maxwell Locke & Ritter is excited to announce that we have once again been honored as a 2022 Best of the Best Firm by INSIDE Public Accounting. ML&R is the only Austin-based firm on this year’s list.

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The best plan for your business will depend on what you want to accomplish and how much flexibility you need. These are 401(k) plans, SEP IRAs, and SIMPLE IRAs.

Advice from Industry Experts

Our team includes specialists who have a proven track record of helping their clients reach their financial goals. For audit services, tax preparation, transaction advisory, IT security & compliance, wealth management, and 401(k) plan management, we can help answer your questions and get you on the right track.

Contact us today to see how we can help you reach your financial goals.

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