When you think of accountants, what do you imagine? Perhaps you see an office filled with men wearing suspenders and visors, sitting behind their large wooden desks as they discuss tax law and type away at their adding machines. At ADKF, youll find a team of tight-knit, dedicated professionals eager to stay at the top … Read more
Rental properties require regular repairs and maintenance, and occasional rehabilitation. It can be confusing to determine how these costs will be treated for income tax purposes. Thats what were here for! Let us provide you a brief overview of the tax concepts a property owner should be aware of when considering the tax impact of … Read more
SEC WHISTLEBLOWER REWARDS Last April, The Securities and Exchange Commission (SEC) awarded more than $27 million to an individual whistleblower who alerted the agency to industry misconduct and provided critical investigative leads that advanced the investigation. This action saved the taxpayers millions of dollars. The SEC awarded $120 million to whistleblowers in 2019 alone. Since … Read more
Late on Friday, August 28th the Internal Revenue Service (IRS) issued guidance on the payroll tax deferral that was ordered by President Trump in a presidential memorandum on August 8th. Companies are left with little time to decide whether they are going to opt in and allow eligible workers to defer payroll taxes on wages … Read more
We want to welcome and introduce our newest ADKF Family Members, Tax Interns: Hannah Nelson and Diego Hernandez; Audit Senior, Ana Otero; and Administration: Yesenia Leonel and Yvonne Stout. TAX INTERNS Hannah Nelson is at ADKF on her second internship. Her first internship as Tax Administrative Intern was cut short due to COVID-19. However, during … Read more
SEC WHISTLEBLOWER REWARDS Last April, The Securities and Exchange Commission (SEC) awarded more than $27 million to an individual whistleblower who alerted the agency to industry misconduct and provided critical investigative leads that advanced the investigation. This action saved the taxpayers millions of dollars. The SEC awarded $120 million to whistleblowers in 2019 alone. Since … Read more
Every year the Internal Revenue Service (IRS) releases its list of the top tax scams called the “Dirty Dozen.” As you would expect, this year’s scams are related to the Coronavirus pandemic and Economic Impact Payments. “Tax scams tend to rise during tax season or during time of crisis, and scam artists are using (the … Read more
QUESTION: I was an unemployed graphic designer, but now I’m working as a freelancer from home. What expenses can I deduct? ANSWER: Transitioning from unemployed to self-employed changes the way you file taxes. There are many deductions that could apply to your situation, from home office space, supplies and equipment to retirement contributions and health … Read more
Audit Partner, Susan Valdez, chose to pursue accounting after her first accounting class because she thought “accounting made sense.” As a military spouse, she started back to college at the University of Maryland, European Division. During her Accounting 101 class she realized she wanted to become a Certified Public Accountant (CPA.) By the time she … Read more
As originally posted in the Boerne Business Monthly, September 2020. Have you ever wondered how the deals on NBC’s hit series Shark Tank work out? As a professional who works with businesses every day, I’ve been drawn to the show and others like it. It’s easier than you’d think, to get pulled into the pitch. … Read more