KLSM CPA Firm PLLC 

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Accounting, Tax and Fraud Tips to protect your business

Posted on October 16, 2019 at 10:35 PM

Join KLSM CPA Firm, as we partner with the Small Business Expo to offer a FREE webinar on November 7, 2019 entitled, Protecting Your Business: An Accounting, Tax and Fraud Perspective. During this webinar we will cover the topics above and much more to help you protect your business. Don't wait until, the webinar is sold out...

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What to do when you can't pay your IRS tax bill

Posted on September 2, 2019 at 6:35 PM

Have you received a letter from the IRS? Do you owe back taxes? Stop your panicking! On this week's episode, we posted a short video that explains exactly what you need to do when you can't pay your taxes. Watch and Listen to the episode onYouTube: https://youtu.be/om-k64jlktc



2019 Tax Filing Season

Posted on January 8, 2019 at 11:25 PM

The Internal Revenue Service announced that the nation's Tax Filing Season will begin on Monday, January 28, 2019. Additionally, Tax refunds will go out, despite the government shutdown.

Can I employ my child to work in my business?

Posted on October 7, 2018 at 10:50 PM
General rule: According to Texas labor laws it is illegal to employ a child under age 14 except under specific circumstances. Exception: When a business is owned and operated by a parent or legal custodian, they may employ their own children at any age to work as long as the work is non-hazardous AND child works under the parent or custodian's direct supervision. Rules: 1. The child must be an actual employee and work real hours 2. The child must be treated as any other employee (i.... Read Full Post »

Reminder: 1099 Filing Deadline January 31, 2018

Posted on January 3, 2018 at 6:25 PM

This is a friendly reminder that this year's filing deadline for issuing 1099's is January 31, 2018. Now is a good time to get your books up to date and identify who will need a Form 1099. Don't wait until the last minute!

  • Do you or your business need to file a 1099? Generally, a 1099-MISC should be issued to any individual or entity paid $600 or more for nonemployee compensation, rent, prizes, awards and other types of income...
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5 Tax Tips for the 2016 Filing Season

Posted on December 27, 2016 at 9:00 AM
1. Locate a Tax Professional 2. Get Organized - Request or obtain a tax organizer from your tax professional to help organize your receipts for the 2016 filing season. 3. Charity - If you plan on making a charitable contribution, be sure to give to an qualified 501(c)(3) on or before December 31, 2016 and obtain a donation letter. 4. Major life changes - Notify your tax professional of any major life changes such as getting married, having children, moving for a job, purchasing a house or goi... Read Full Post »