1900 West Loop South, Suite 1150
Houston, TX 77027

(713) 557–0561
cglaw@glocpa.com

29Jan

They’re holding it hostage…

Take a stance today! As many of you know Linda and I were totally wiped out. We were part of the “no notice” flooding by the army corp of engineers barker/addicts dam release. We are in city council District G. There are 11 in total. This district produces 45% of total city county and schools

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01Jan

Tax Reduction Series–January

Tax Reform: Will Section 199A Phase In or Phase Out Your 20 Percent Deduction? If your pass-through business is an in-favor business and it qualifies for tax reform’s new 20 percent tax deduction on qualified business income, you benefit at all times, including being above, below, or in the expanded wage and property phase-in range.

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01Jan

Tax-Saving Tips-January

January 2018 Tax Reform Provides New 20% Deduction The new 2018 Section 199A tax deduction that you can claim on your IRS Form 1040 is a big deal. There are many rules (all new, of course), but your odds as a business owner of benefiting from this new deduction are excellent. Rejoice if you operate

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20Dec

Tax-Saving Tips-December

Home Office with More Than One Business The office-in-the-home deduction produces good-to-excellent tax savings by turning personal house expenses into business deductions. Additionally, it enables you to deduct big vehicle expenses by eliminating nondeductible commuting mileage. But to qualify for the home-office deduction, you must use the office exclusively for the business or businesses for

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20Dec

Tax Reduction Series–December

In a recent issue of the Tax Reduction Letter, we explained how to keep IRS “temporary work location” rules from destroying your business mileage deductions.   In this new issue of the Tax Reduction Letter we’ll demystify the IRS’s complicated “metropolitan area” rules that also impact your business mileage deductions.   Leave it to the

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20Dec

Business Mileage: Beware of IRS Assertions of Metropolitan Area

Business Mileage: Beware of IRS Assertions of Metropolitan Area The IRS has ruled that you “may deduct daily transportation expenses incurred in going between your residence and a temporary work location outside the metropolitan area where you live and normally work.” In this favorable ruling, you find two possible impediments: Temporary work location Metropolitan area

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05Dec

Tax Reduction Series–November

In this Issue: Key Tax Facts and Scenarios Entertainment Tax Deductions Look Fishy John Henry is engaged in an IRS audit, and he has a big problem with his entertainment deductions. John’s first visit with the IRS was unsatisfactory. He did not have any proof of his entertainment costs. The auditor allowed him to return read more

03Dec

Tax-Saving Tips-November

Using Children’s IRAs to Pay for College If your child has earned income (maybe from working in your business), you may want to consider establishing an IRA for your child. The IRA funds can, in turn, be used to help pay your child’s college expenses. When your child withdraws money from an IRA, tax law

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