Vacek, Kiecke & Colmenero, LLP

08/19/2020

Some good news from the IRS. Interest to be paid on refunds. See the details in the attached article. 😀

The Internal Revenue Service and the Treasury plan to send interest payments averaging $18 to approximately 13.9 million taxpayers.

04/15/2020

If you're self-employed, this news from the SBA regarding guidance for the Paycheck Protection Plan is very welcome. Check out the interim final rule and get your application filed with your banker.

The US Small Business Administration issued guidance for independent contractors, sole proprietors and others with self-employment income to apply for forgivable loans under the $349 billion Paycheck Protection Program.

03/26/2020

For your morning reading, here is a good article that describes the tax aspects of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It includes information about the individual stimulus payments, small business loans and the tax provisions.

Please note that the information contained in this post is provided solely for the general interest of clients and friends of Vacek, Kiecke & Colmenero, LLP (VKC) and the firm’s attorneys and certified public accountants.. This information should not be relied upon or construed as legal advice and is not a substitute for obtaining legal advice from an attorney licensed in your jurisdiction. VKC assumes no liability for any errors or omissions in the content of this post. The use of this post is not intended to and does not establish an attorney-client relationship. Please do not send us confidential information via e-mail without first obtaining permission to do so from one of our attorneys or certified public accountants.

Congress has agreed in principle to a $2 trillion relief package. What tax benefits does it offer individuals and businesses?

02/24/2020

Excellent advice for parents of minors. If god forbid something should happen to to both or either of you, these steps will save your children and family tremendously.

Should you take them to protect your kids?

10/30/2019

VKC attorneys Chi Reece, Brian Shepherd and Rudy Colmenero attending tonight’s reception honoring the Judges, Staff, and Clerks of the Travis County Probate Court. 👨‍⚖️⚖️

07/10/2018

If you receive a call from someone claiming that they are with the IRS and that you owe money, we can assure you, it is definitely a scam. Do not offer any personal information and certainly do not pay any money. You can contact the Treasury Department at this link to report the call. https://www.treasury.gov/tigta/contact_report_scam.shtml

05/22/2018

If you have the available resources, fully contributing to your company’s 401(k) is one of your best tax saving strategies. Especially if you have a company matching policy available.

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05/21/2018

This is a real brief synopsis (we assure you, there is way more to it than this) but here are some of the winners and losers under the new tax bill. We're just waiting for the IRS to issue some regulations for us to interpret.

Due to the tax reform passed in December, many taxpayers will be seeing tax changes in their 2018 tax return. Some changes are positive and some negative, and it is important to keep as updated as possible with the ever-changing tax environment ...

01/19/2017

Here are some benefits that are not subject to tax. Some are pretty obvious but it's worth taking a quick look at.

Gross income is defined at 26 USC §61 as "all income from whatever source derived." The Tax Code goes on to exclude a number of items. Here are 50 sources of money and benefits that aren't taxable for federal income tax purposes.

01/03/2017

Start the new year off with this resolution.

As we swing into the new year, it's easy to forget about taxes and tax planning. But here's the first thing taxpayers should do in 2017.

10/23/2016