P. O. Box 19715
Houston, Tx 77224-9715

(713) 621-4700
info@glocpas.com

Indra Nooyi, Former Chairman and CEO, PepsicoThis article was originally published in Fortune Fortune magazine, April 30, 2008, and can be found at https://archive.fortune.com/galleries/2008/fortune/0804/gallery.bestadvice.fortune/7.html Emphasis added. “My father was an absolutely wonderful human being. From him I learned to always assume positive intent. Whatever anybody says or does, assume positive intent. You will be amazed

Read More

You Can Have Tax-Free PPP Money AND Tax Credits from the Employee Retention Credit The CARES Act, enacted on March 27, 2020, prohibited you from getting both Paycheck Protection Program (PPP) money and tax credits from the Employee Retention Credit (ERC); you had to choose one benefit or the other. Now, thanks to the new

Read More

The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. Below are brief summaries of the key aspects of the tax provisions in ARPA. Provisions Affecting Individuals Recovery rebate credits

Read More

The Coronavirus has wrecked the economy and the impact on small business has been enormous. Congress is trying to help. The Republican National Hispanic Assembly is pleased to present GLO’s Carl Glaw who has been sifting through the legislation and will share what he has learned about how your business can benefit and maybe even

Read More

The IRS recently issued new cryptocurrency guidance and is hot on your trail if you bought and sold cryptocurrency and didn’t report it on your tax return. Here are the tax basics. You’ll treat cryptocurrency as property for tax purposes: If you receive bitcoin in exchange for your services, then your income is the fair

Read More

If you are self-employed, you have much to think about as you enter your senior years, and that includes retirement savings and Medicare. Here a few thoughts that will help. Keep Making Retirement Account Contributions, and Make Extra “Catch-up” Contributions Too Self-employed individuals who are age 50 and older as of the applicable year-end can

Read More

The Tax Cuts and Jobs Act (TCJA) likely requires that you rethink the tax strategies you were using on your vacant land investments. And the TCJA changes may be such that you have to rethink vacant land as an investment, at least for the years impacted by the TCJA. Overview The vacant lot and unproductive

Read More

The new individual coverage HRA (ICHRA) has much to offer a small business (businesses with fewer than 50 employees). In this client letter, we give you nine insights into the new ICHRA. Insight 1. Application of the Class Size Rule The class size requirement applies only if you (a) offer a traditional group health plan

Read More

When you get busy with your business, it’s easy to forget about your retirement accounts and medical coverages and plans. But year-end is approaching, and now’s the time to take action. Here are the six strategies that you can implement before the end of the year. Five of the strategies increase your tax deductions, and

Read More

If you are thinking of getting married or divorced, you need to consider December 31, 2019, in your tax planning. Here’s another planning question: Do you give money to family or friends (other than your children who are subject to the kiddie tax)? If so, you need to consider the zero-taxes planning strategy. And now,

Read More