The Lawhorn Ledger
Financial Insights and Business Strategy
Straight from The Lion’s Mouth
Meet Jessica Seyler
While she won't admit to being the "live wire" of the group, Jessica has an insatiably magnetic personality, making her a great point of contact for Lawhorn CPA's clients. When interfacing with clients and helping solve their business problems, Jessica Seyler has an...
Adding a Private Foundation to an Estate Plan
Private foundations have grown in popularity in recent years and go hand-in-hand with estate planning. For individuals who are charity driven, adding a private foundation to an estate plan can be a rewarding experience on several levels. Not only will creating a...
Tax-Free Ways to Save for College
Finding tax-free ways to save for college is a big deal for a large portion of the population, and for good reason. Obtaining a college education is one of the best ways for your dependents to secure a better job and a better life. However, despite different attempts...
Supreme Court Rules States Can Collect Online Sales Tax
In a 5-4 decision on Thursday, June 21, the Supreme Court ruled that states can collect online sales tax—discarding the court’s longstanding rule that states cannot require companies without a physical presence to collect sales taxes. The decision reverses decades of...
New Home Equity Tax Loophole Approved by IRS
If you're slightly confused regarding how the Tax Cuts and Jobs Act affects your personal tax strategy, you're not alone. One of the primary causes for confusion is the disconnect between lawmakers and the IRS. Even though the new law drastically changes tax law, it...
New Tax Laws Open Cash Method of Accounting for More Businesses
Business owners are now reviewing the repercussions of the Tax Cuts and Jobs Act of 2017 or are planning to do so soon. Learning about how these changes will affect your business is an important step to take now in strategic business and tax planning for the years to...
Surviving an IRS Tax Audit
There are few events that cause a business owner or individual to cringe more than receiving a dreaded IRS tax audit notice in the mail. For those lucky enough to have never been through a tax audit before, a quick tax audit definition is in order. Essentially, an IRS...
BEWARE: New Tax Scams in 2018
The tax season is upon us once again, and with it comes the emergence of tax schemes both old and new. New tax scams in 2018 are as numerous and innovate as in previous years. Tax refund scams are so numerous, that the Internal Revenue Service issues an annual list of...
Tax Cuts and Jobs Act: Major Change to Entertainment and Meal Deductions for Businesses
With its effect being immediate and unanswered questions lingering, the Tax Cuts and Jobs Act largely eliminates the deduction for entertainment expenses, and businesses should incorporate this change without delay. Under the prior law, taxpayers were able to deduct...
How Would a Government Shutdown Affect Your 2017 Taxes?
With the recent government shutdown and the opening of the 2018 tax season coming soon, did you wonder how that would affect the filing your 2017 taxes? Maybe, or maybe not. Thing is, a government shutdown would affect the IRS and its plan for tax filing season. ...
Small Business Relief from Effects of Coronavirus Resources
The novel coronavirus (COVID-19) has shaken industries and economies across the world. If you’re like many small business owners right now, you are probably sitting in your home worrying non-stop about how your small business will make it through this crisis. The...
COVID-19 Updates to Business
Lawhorn CPA Group’s top priority is the safety and well-being of our clients and team professionals. With the new “safer at home” order in effect, please know that our business is considered essential, and we will remain open and working. However after careful review...
Annuity Investment 101
Annuity investments are a growing trend with financially savvy individuals who worry that Social Security and company pension plans won't be enough to fully support their retirement fully. Fears that social security will one day run out coupled with the overall...
COVID-19 + Tax Season: What to Expect
If you have access to the outside world at all, you are probably fully aware of the coronavirus that has been sweeping the world. In an effort to keep you informed, we’ve gathered some information on what this could mean for this tax filing season and what we’re...