Many Texas residents strive to set aside at least some money each year for future purposes, including retirement. If you contribute to an individual retirement account, you may wonder whether your contributions are tax deductible pursuant to applicable tax law. In...
Tax Law
What types of audits does the IRS perform?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Mar 30, 2021 | Tax Law
Bring up the word audit, and many Texas residents' minds jump to picturing an IRS agent at their front door. This isn't always the case. Rather, there are various types of audits that the IRS can perform, and understanding what these are can help to put your mind at...
Will the IRS audit more taxpayers in 2021?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Mar 17, 2021 | Tax Law
It's unlikely that the IRS will audit more taxpayers in 2021 because audits are trending downwards since 2010. In 2010, the IRS audited about 0.9% of tax returns, and in 2019, the IRS audited around 0.4% of tax returns. Whether you live in Texas or another state, you...
What are the 2021 tax rates for mileage deductions?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Dec 31, 2020 | Tax Law
If you meet certain qualifications, you may be able to deduct your transportation expenses when you file your taxes in Texas. To ensure that the rates are accurate, the mileage rates are adjusted slightly each year. Here are the mileage rates for 2021. How much can...
Payroll tax deferral goes into effect and some questions arise
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Sep 14, 2020 | Tax Law
Not everyone who works looks at the itemized breakdown of taxes and withholdings on their paychecks. Many will likely notice when their weekly payment amount increases or decreases, though. Workers in Texas might wonder why their paychecks appeared to reflect a raise...
Be aware of 2020’s biggest tax scams
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Jul 28, 2020 | Tax Law
Unfortunately, many unscrupulous operators seek to take advantage of others when it comes to tax time. The pandemic of 2020 has created some additional issues that make it easier for scammers to target Americans. It's important for the people of Texas to be aware of...
Freelancers can face their taxes come tax time
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Jul 6, 2020 | Tax Law
Those who freelance in the Austin, Texas, area can benefit from knowing more about taxes. If they earn more than $600 from independent work, they are officially considered a business by the IRS. People who have been freelancing for years as well as those new to...
When it can help to hire a tax attorney
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Jan 10, 2020 | Tax Law
Roughly 14 million people in Texas and throughout America owe back taxes to the IRS. This may result in a tax audit, financial penalties or even criminal charges being levied against a taxpayer depending on the circumstances of his or her case. Individuals who are...
Texas Supreme Court Clarifies Age Discrimination Law
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Sep 6, 2019 | Tax Law
A south Texas school district secretary attempted to file an age discrimination claim earlier this summer, claiming that she was fired due to her age. However, the replacement employee was actually older by four years than the secretary herself. The secretary was...
Alt Coin Taxation (Part 1): Is Bitcoin or Crypton Coin Taxable? By John Ferguson
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Sep 6, 2019 | Tax Law
History. Alt coin, sometimes called crypto coin or currency, remained in relative obscurity until Bitcoin's meteoric rise in price in 2017. This rise in Bitcoin price brought everything about Bitcoin and other alt coins into the public eye. The IRS was slightly ahead...