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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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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.

You may want to accelerate, or possibly even defer, deductible business expenses in 2021, depending on your specific situation and the potential impact of pending tax legislation on 2022 tax rates.

2021 has been another unpredictable and memorable year.  With all of the changes and proposed legislation to come, we have outlined a few 2021 year-end tax planning strategies for investors and individuals with estate and gift planning needs.

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Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs? Under current tax law, these expenses aren’t deductible through 2025 if they’re considered investment expenses for the production of income. But they’re deductible if they’re considered trade or business expenses.

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The rules for deducting personal casualty losses on a tax return have changed through 2025, but you may still be able to claim a deduction if an event qualifies as a federally declared disaster.

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The long-anticipated tax proposals from the Ways and Means Committee in the House of Representatives were released on Monday, September 13, 2021. We have included some highlights from these proposals.

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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