by Lawhorn Team Professional | Aug 15, 2019 | Advice, Business Practices, Tax
The new tax laws in the US and the subsequent tax code changes have caused much concern, confusion, and have even caused some to experience unwarranted tax penalties. With the massive overhaul of the tax codes and IRS guidance that has taken place over the past 24...
by Lawhorn Team Professional | Aug 9, 2019 | Advice, Business Practices, Miscellaneous
We hear a lot about the ‘cloud’ and have begun to frequently refer to our workplace data and storage as ‘the cloud.’ The term has become our metaphor for the Internet, and it is a blend of where we house our work and the processes of our work from software, to drives,...
by Lawhorn Team Professional | Apr 30, 2019 | Advice, Business Practices, Financial Planning, Tax
On most accounts, there has never been a better time to take the leap towards entrepreneurship in America. After all, there are have been several new initiatives that were part of the Tax Cut and Jobs Act of 2018 that helped introduce a single and flat corporate tax...
by Lawhorn Team Professional | Apr 17, 2019 | Advice, Tax
As we settle into April, it may be that you received notice that your accountant filed a personal tax extension on your behalf. But, what does this mean for you and why would your accountant do that? There are many reasons for filing an extension and, don’t worry, are...
by Lawhorn Team Professional | Mar 14, 2019 | Advice, Business Practices, Tax
Accountants are often asked the difference between tax preparers, such as H&R Block, Jackson Hewitt, and Liberty Tax Services, and Certified Public Accountants (CPAs) during tax time in the US. These roles are often seen as similar when it comes to tax...
by Lawhorn Team Professional | Feb 26, 2019 | Advice, Business Practices, Financial Planning, Tax
Once all of the steps are completed in the framework of the FASB Accounting Standard concerning the Revenue from Contracts with Customers, then businesses can completely recognize the revenue. This final step recognizes revenue when or as the performance obligations...