When a loved one passes away, there are many things to take care of, including filing their final federal income tax return. This may seem like a daunting task, but it is important to understand the process and the deadlines involved. In this article, we will discuss everything you need to know about the final…
TX-LW Blogs
Can evidence of past misconduct toward an estate prove undue influence?
Questions of undue influence can be difficult to prove in Texas, particularly when it comes to a deceased’s estate. But did you know that evidence of past misconduct toward the decedent may be able to help establish undue influence? In this blog post, we will discuss the complexities of proving undue influence in Texas and…
What If a Texas Will Is Inconsistent with Itself?
Drafting a will is an important step for any Texas resident, as it helps to ensure that your estate and assets are distributed according to your wishes after you pass away. But what happens if your will is inconsistent with itself? In this blog post, we will explore the implications of an inconsistent or ambiguous…
Sole Proprietorship vs LLC: Which is Right for Your Business?
Starting a business is a big decision, and choosing the right business entity is a critical step in that process. Two of the most common business structures are sole proprietorships and limited liability companies (LLCs). There are a number of pros and cons associated with each type. This article will help you understand the differences……
Loss on the Decline in Value of Cryptocurrency
Cryptocurrencies, a type of digital asset, can be a valuable source of tax losses. In fact, harvesting tax losses at or near the end of the year is a well-recognized tax planning strategy. This entails selling crypto positions that have sustained losses and immediately buying them back. This is not available for other assets, such……
Tax Court Review of IRS SS-8 Employment Determination
The IRS has the power to make a number of important determinations, including determining the employment status of workers for purposes of employment taxes. This type of determination can have a significant impact on a worker’s ability to receive unemployment benefits, participate in retirement plans, and more. The IRS often determines that workers are employees,……
The IRS’s Bank Deposit Analysis
When conducting an audit involving income tax returns, the IRS will almost always check for unreported income. The IRS has specific procedures for conducting this type of income verification. This often involves a bank deposit analysis by the IRS agent. This type of analysis can be used to identify unreported income, but it can also……
IRS Records in the Digital Age
Small business taxpayers often pay more to the IRS because of one thing. Paper. The IRS still relies on paper records. It wants you to e-file your tax return, but what is the first thing the IRS agent will ask you for at the start of the audit? You guessed it. A paper copy of……
A Dedicated Probate Court in Montgomery County?
As the population of Montgomery County continues to grow, so does the need for efficient and effective courts to manage the increasing number of cases. To address this, State Representative Will Metcalf has filed House Bill 1436, aimed at converting Montgomery County at Law No. 2 into a probate court. What Is a Dedicated Probate…