Tax Law

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...

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...

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...

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...

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...

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...

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...

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...

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...

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?...