When the IRS reviews your tax return, the type of audit you face often shapes your experience. While the IRS operates across the country, including in Texas, federal rules guide the process. Most reviews fall into a few categories, but two of the most common are...
You may want a power of attorney to keep your business running if you cannot act. That step can bring peace of mind. You may also worry about giving up too much control. Texas law draws a clear line between your business rules and your power of attorney, which helps...
When you build a business in Austin, you likely focus on growth, customers, and revenue. At some point, you may also think about your exit. If you formed an S-corporation early on, you might now wonder whether converting to a C-corporation before a sale will help or...
Financial powers of attorney to protect people during extended emergencies. When the person is incapable of paying their bills or managing their resources due to a medical emergency, financial power of attorney can be helpful. The agent or attorney-in-fact named in...
Buying real estate comes with a degree of risk. Property owners never know when they may have to invest substantially in repairs. They have to commit themselves to making mortgage payments even if they lose their jobs or face major medical hardships. They are also...
Most working adults do not need to worry much about federal income tax obligations. They file paperwork with their employers that allows for automatic deductions from their paychecks. Their employers pay estimated taxes to the Internal Revenue Service (IRS) and state...
Many people think that power of attorney documents are only for older adults or those facing serious health issues, but in reality, every adult—no matter how young—should have them drafted, stored safely and updated whenever necessary. Once a person turns eighteen,...
Falling behind on taxes is one of the most serious challenges a business can face, whether it operates as an S-Corporation or a C-Corporation. Unpaid taxes can trigger penalties, interest and even personal liability for certain debts under specific circumstances. ...
If you're starting a business, choosing the right structure matters. Two common types are S-Corporations and C-Corporations. While they share some features, they differ in how ownership works—and those rules can affect your business strategy. S-Corp ownership limits...
A power of attorney (POA) grants someone you trust the legal authority to make decisions on your behalf. But how long does that authority last if the document doesn't specify an expiration date? Under Texas law, the answer is fairly straightforward. Understanding the...
