Insights

PPP Loan Forgiveness and State Tax Implications

February 18, 2021

The federal tax implications of PPP loan forgiveness are straightforward: businesses that have received PPP loan forgiveness can now exclude the forgiven amounts from income and deduct all the expenses paid using the PPP loan.

New Tax Credits for Retirement Plans

February 12, 2021

Recent legislative and executive actions have created new ways to help small and mid-sized employers with delivering more effective and efficient retirement plan solutions for their employees.

How Stimulus Payments and Recovery Rebate Credit May Impact your 2020 Tax Return

January 28, 2021

Taxpayers have a great deal of questions on how those payments will impact their tax return and what will happen if they have not received them yet.

IP PIN Now Available to All Taxpayers

January 14, 2021

Taxpayers can take advantage of a program to help ensure tax returns fraudulently filed using their social security number are not processed.

Employee Retention Tax Credit and Some Other Last-Minute Tax Changes in the Consolidated Appropriations Act

January 6, 2021

In continuing with our look at the Consolidated Appropriations Act (CAA) that was passed the other week, we wanted to bring attention to another area that may be relevant to many taxpayers.

Covid Relief Bill Changes Deductibility of Meals to 100% for 2021 & 2022

January 4, 2021

The new COVID-19 relief bill contains provisions that incentivize businesses in the coming year to spend on business meals.

PPP Expense Deductibility and the $900 Billion Covid-19 Relief Bill

December 28, 2020

Although the PPP Loan Forgiveness is a huge subsidy for many businesses during this hard time, it does come with a few downsides.

COVID-19 Tax Relief Things to Remember

December 11, 2020

In this article, we wanted to take the time to go through the main aspects of this legislation that will impact taxpayers and businesses most going into the 2020 tax reporting season.

Is the IRS Starting an Upturn in Enforcement?

November 10, 2020

Recent budgetary increases at the IRS signal an effort to restore and increase the agency's enforcement.

Election Year Tax Planning: What to Know?

November 4, 2020

The two major party candidates have vastly different tax proposals, with one keeping things as we know it from the recent tax law changes and the other wanting to change the approach taken since the Tax Cuts and Jobs Act (TCJA).

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Hext Financial Group
972.644.7112
5001 Spring Valley Rd., Suite 850W, Dallas TX 75244
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