Hill Country Primo Tax

Hill Country Primo Tax Helping individuals and families to solve money problems and creating generational wealth strategies

Just because the deadline to file 2023 taxes is far away in April, you shouldn't procrastinate.  Most Americans are due ...
01/05/2024

Just because the deadline to file 2023 taxes is far away in April, you shouldn't procrastinate. Most Americans are due a refund check. You may be one.

When we remember the reason for the season, we realize what a gift Christmas really is.
12/25/2023

When we remember the reason for the season, we realize what a gift Christmas really is.

Happy 4th of July!  🇺🇸❤️🎆
07/04/2023

Happy 4th of July! 🇺🇸❤️🎆

Great learning experience with Texas Society of Enrolled Agents in San Antonio!
06/04/2023

Great learning experience with Texas Society of Enrolled Agents in San Antonio!

More taxpayers will be receiving Form 1099-K from 2023.Not sure what you need to do when you receive a FORM 1099-K?  Con...
04/28/2023

More taxpayers will be receiving Form 1099-K from 2023.

Not sure what you need to do when you receive a FORM 1099-K? Connect to our tax professional so we can help you.

A tax scam is designed to illegally obtain money from taxpayers. These scams can take many different forms, but all are ...
04/24/2023

A tax scam is designed to illegally obtain money from taxpayers. These scams can take many different forms, but all are aimed at defrauding the taxpayer of their hard-earned money. A scammer may pose as an IRS representative, or they may use phishing emails or fake websites to try and collect personal information. They may also promise unrealistic tax refunds in exchange for a fee.

Connect to a tax professional to represent you if you receive a letter from the IRS so you don’t have to worry about scams.

Are you a resident in Texas?  If so, you won’t pay any state taxes on income in Texas, including if it’s earned from inv...
04/18/2023

Are you a resident in Texas? If so, you won’t pay any state taxes on income in Texas, including if it’s earned from investments or a retirement plan. But there is a trade-off: The state’s average property and sales tax rates are among the highest in the U.S.

• Property tax: 1.68 percent of a home’s assessed value (average)

• Sales tax: 8.2 percent (average combined state and local)

Texas residents do not file returns for state income taxes. The deadline for filing 2022 federal tax returns is April 18, 2023. For help estimating your annual income taxes, message / call for a free consultation with our tax professional.

Need more time to get your tax records organized? Request a free tax extension. Estimate and pay what you owe by April 1...
04/17/2023

Need more time to get your tax records organized? Request a free tax extension. Estimate and pay what you owe by April 18 and file your tax return by October 16.

Beginning January 1, 2023, eligible vehicles may qualify for a tax credit of up to $7,500. The amount of the credit depe...
04/12/2023

Beginning January 1, 2023, eligible vehicles may qualify for a tax credit of up to $7,500. The amount of the credit depends on when the eligible new clean vehicle is placed in service and whether the vehicle meets certain requirements for a full or partial credit.

The IRS also added a credit for used clean vehicles, which can equal 30% percent of the sale price up to a maximum credit of $4,000.

Want to know more about the vehicle tax credit? Connect to us for a free tax consultation. You still have time before the due date to get all the eligible credits to lower your tax liability.

Tax withholding – what it is and how it affects your take-home pay.  Message to schedule a free tax consultation to get ...
04/05/2023

Tax withholding – what it is and how it affects your take-home pay. Message to schedule a free tax consultation to get an estimate for your paycheck withholding.

The IRS tax code has over 150 penalties that apply to late filing, late payment, filing an inaccurate return, or other n...
03/24/2023

The IRS tax code has over 150 penalties that apply to late filing, late payment, filing an inaccurate return, or other non-compliant behavior.

The failure to pay and estimated tax penalties are the trickiest to compute.

The estimated tax penalty is becoming much more common these days as more workers set out on their own in the gig economy.

Taxpayers who believe they may qualify for penalty abatement need to understand the reasons and the procedures for abatement. The worst thing a taxpayer can do is not to ask.

When in doubt, ask for relief.

Keep researching, or ask us for help!

Many taxpayers are asking about the energy efficient home improvement qualifications.  Hope this Publication helps! http...
03/02/2023

Many taxpayers are asking about the energy efficient home improvement qualifications. Hope this Publication helps!

https://www.irs.gov/pub/taxpros/fs-2022-40.pdf

Feel free to message us if you have any questions regarding your income tax matters.

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Liberty Hill, TX

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