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...
It may seem a bit counterintuitive to Texas residents to think someone may not want an inheritance left for them. But this situation arises from time to time with estates all over the country. The reasons for declining an inheritance may differ, but the necessary...
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...
If you've decided that a shed is the perfect addition to your existing property in Texas, you likely want to purchase the materials and get the construction underway. Unfortunately, it's not that simple. You may need to apply for a building permit with your local...
When you start shopping for a house in Texas, the law requires sellers to disclose information about the house's history, flaws and defects. This could include mold in the ceiling, leaky plumbing or drug activity in the home. If your seller isn't 100% truthful about...
Many people hear about estate planning and assume that they need to have access to large investments, mansions, and financial wealth to put such a plan together. However, estate plans are effective tools for Texas residents no matter how much personal wealth they have...
Not everyone may be happy with the directives in a will. Heirs left nothing or otherwise disappointed could decide to contest the will. Anyone planning to contest the will in Texas probate court should understand that disappointment won't likely be enough to overturn...
Leasing your Texas home can be an effective way to defray the cost of owning it. Although the tenant has control of the property, you can set limits on how he or she can use it. Furthermore, you retain the right to transfer ownership of the property at any time before...
Young and aspiring entrepreneurs in Texas often make the leap from working for others to working for themselves. While this can be the thrill of a lifetime, staying confident in yourself and learning from others is key to your success. The following covers a few tips...
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...
