According to the IRS, when someone gives another person money and does not receive full consideration in return, they are making a gift. Full consideration is the fair amount of compensation that would otherwise be paid if the parties were not related. Gifts are considered income to the recipient and are subject to taxation. A … Read more
If it turns out you owe the IRS but cannot pay your taxes all at once when due, you may request an IRS Installment Agreement (or payment plan) to pay your debt over time. What Are My Options? Depending on how much you owe and your financial situation, there are several common types of IRS … Read more
Anyone who hires a lawyer is more likely than not going to incur attorney fees. The reason why the lawyer is hired however, be it for a child custody case or to write a patent, will affect the treatment of these expenses. This is because not all attorney fees are treated equally, as some of … Read more
We constantly clean up our living spaces, our lifestyles, and even our way of thinking. However, people tend to overlook their computers as items that require routine cleaning. If you have ever found yourself dealing with a lagging computer or unable to locate an important file, consider taking time to get digitally organized. With a … Read more
You may be able to handle your own bookkeeping when you first start your business, but over time, your business will grow and you might find yourself asking, is it time to hire a bookkeeper? There are a number of indicators that suggest it is time to consider finding assistance: When bookkeeping is taking too … Read more
Like every organization, ADKF has a set of core values. However, what sets us apart is that we choose to uphold these beliefs in everything we do, specifically our dedication to service. Through the relationships we build with our non-profit 501(c)(3) clients, we are able to service not only the client, but the community they … Read more
Gas prices rising over the past year have caused many people to limit the use of their vehicles in an attempt to keep more money in their pockets and less in their gas tanks. But for the people who find it necessary to use their vehicle regularly, a break may be coming their way. The … Read more
Introducing Jay Garcia, one of our latest employees to receive his CPA license and be promoted to tax manager! Jay received his Bachelor of Accounting from the University of Texas at San Antonio and contrary to this degree path, Jay was interested in becoming an archeologist! To further explore this passion, he added a second … Read more
Leading up to busy season we thought, in order to better the community, we must continue to better ourselves! With numerous trainings scheduled and an eager staff, we felt confident, prepared, and excited walking into the new year! In December, our audit department attended a training course to resharpen their skills and update their knowledge … Read more
To our ADKF family, As we leap into 2023, we would like to take this opportunity to thank you all for filling 2022 with milestone accomplishments and unforgettable memories! The success of ADKF is based on the relationships we have built and maintained over the years, and we really wouldnt be where we are today … Read more