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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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Footnotes appear at the end of a company’s audited financial statements. These disclosures provide insight into account balances, accounting practices and potential risk factors — knowledge that’s vital to making well-informed lending and investing decisions. Here are examples of key risk factors that you might unearth by reading between the lines in a company’s footnotes.

As a society, we are becoming increasingly aware of phishing scammers—thieves who conspire to steal credit cards or private financial information. In this article, Maxwell Locke & Ritter focuses on a more sophisticated trend involving fake company invoices, and how we can help you fend off sophisticated cyber-scams.

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If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2021 income tax return? It depends.

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Businesses that sell tangible personal property may face additional state filing requirements in the future, thanks to a recent statement issued by the Multistate Tax Commission. The MTC’s revised guidance considers changes in how business is done in the digital economy, and it specifies a myriad of online activities that may now create income tax nexus.

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How much can your employees contribute to 401(k) plans this year? How much will your business be able to deduct for business meals, driving expenses and equipment in 2022? Here are the answers to these and other questions about tax inflation adjusted amounts and other changes affecting businesses.

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If you own a vacation home in Austin, the tax treatment can be complex. Here are a few key items to consider. 

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The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses in Austin. Current tax law and IRS rules make the benefit even better than it was in the past.

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We are pleased to announce that Blaine Martin, Diana Garcia Mil, and Kate Williams are new partners in our firm.

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The Build Back Better Act is one step closer to becoming law as it passed the U.S. House of Representatives on November 19th. It includes numerous provisions related to areas ranging from health care, climate change and immigration to education, social programs and, of course, taxes.

The Tax Cuts and Jobs Act (TCJA) significantly increased the standard deduction amount beginning in 2018. Fewer people claim itemized deductions as a result, and the timing of these deductions is now more important for some of those taxpayers who still do. Depending on your personal situation and the outcome of pending tax legislation, you may want to accelerate, or possibly even defer, deductible expenses in 2021.

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