Announcing Mandy Thiebaud as Newest Firm Shareholder
Dallas, TX – We are proud to announce Mandy Thiebaud as the firm’s newest shareholder and the change of the firm name to Patten Thiebaud LLC.
Dallas, TX – We are proud to announce Mandy Thiebaud as the firm’s newest shareholder and the change of the firm name to Patten Thiebaud LLC.
Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks (especially if you own a pass-through entity). But you also must look out for your own financial future.
Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018?
A Refresher on Major Tax Law Changes for Small-Business Owners Return to Blog The dawning of 2019 means the 2018 income tax filing season will
Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider:
Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why does this matter? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive losses generally are deductible only against passive income, with the excess being carried forward.
If your estate plan includes one or more trusts, review them in light of income taxes. For trusts, the income threshold is very low for triggering the: Top income tax rate of 39.6%,
Top long-term capital gains rate of 20%, and Net investment income tax (NIIT) of 3.8%.
Mark Patten, CPA and Mandy Thiebaud, CPA of McKinnon Patten & Associates discuss with Old Capital Podcast how earned income and passive income are treated by the IRS, capitalizing versus expensing replacements & repairs, and why owning real estate is more than just a return on your investment.
Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government an interest-free loan for close to a year, which isn’t the best use of your money.