In Texas, it is essential to understand the complexities and challenges of filing taxes for a deceased individual. Specific laws and regulations apply to the filing process, and the following key points can provide insight into navigating the process. Filing deadline...
Tax Law
Tax-related changes to be aware of after getting divorced
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | May 31, 2023 | Tax Law
The divorce process can cause lots of changes for formerly married adults in Texas. These changes can involve last names, financial accounts and living situations. The divorce process can also modify how you prepare and file your taxes. Your filing status Before...
Can my parents claim me on their tax return?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | May 16, 2023 | Tax Law
Texas adults can be claimed as dependents on their parents' federal taxes at any age if they meet specific criteria. They may also be claimed on another person's taxes but can only be claimed once. Adults claimed on parents’ taxes An adult can be claimed on their...
Tax deed sales process in Texas
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | May 2, 2023 | Tax Law
A tax deed is a legal document granting property ownership to a Texas county if the owner fails to pay the property taxes. For the document to be issued, the county places a tax lien on properties with unpaid taxes on January 1st of each year. Then, the county can...
A brief look at like-kind property trades
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Mar 20, 2023 | Tax Law
Trading property of a similar kind for business purposes between people is common among Texans. The advantage of making a like-kind trade is that you do not have to pay capital gains taxes. However, there are a few things to consider. The properties do not have to be...
How certain life events affect how you do your taxes
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Feb 2, 2023 | Tax Law
Life events can significantly impact the way you do your taxes and the amount of taxes you owe. Texas residents do their taxes differently based on their marital status or other stages in life. Understanding how tax law works can help you manage your tax burden and...
Understanding regressive, proportional and progressive taxes
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Nov 23, 2022 | Tax Law
An unfortunate aspect of living in Texas (or anywhere, really) is having to deal with all the myriad forms of taxation. From annual taxes like federal income tax to daily taxes like sales tax, the government finds numerous ways to take its cut. Navigating tax law and...
Opting for tax avoidance plans
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Nov 8, 2022 | Tax Law
A tax bill could put an undue burden on residents of Texas, leaving some to wonder how they may reduce their tax bills. Federal law defines legal ways to reduce their obligations. Such tax avoidance steps do not involve anything illegal since the law provides for...
Penalties imposed by the IRS for filing or paying federal taxes late
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Oct 26, 2022 | Tax Law
Each year, from January to mid-April, people across Texas prepare to file their annual taxes. However, for many reasons, not everyone can get their tax return mailed or filed before April 15th. Fortunately, the IRS allows late payers and filers to qualify for...
Do nonprofits pay taxes in Texas?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Sep 28, 2022 | Tax Law
The more knowledgeable Texas resident might know that nonprofits don’t have to pay taxes. While this is true, there are certain requirements that nonprofits have to meet, as well as other terms and conditions that apply. Why don’t nonprofits have to pay taxes?...