ML&RPC

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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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.

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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.

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The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules.

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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