Thomas Hawbaker CPA PLLC

05/15/2026

Surprising: “It worked before” won’t save you. The IRS is winning cases against engineered tax setups made only to cut taxes. Avoid penalties—get a reality check on your plan and ensure it has real business purpose. Find out how we can help.

Is your tax strategy built on solid business purpose? Learn why the IRS is cracking down on overly creative tax plans and how to protect your Texas business.

05/15/2026

Expats: For 2026 you can exclude up to $132,900 of foreign earned income — a big tax win — but here’s the catch: the FEIE is “stacked” and can push your remaining income into higher brackets. Want to know when FEIE vs. Foreign Tax Credit is smarter for you? Find out.

Maximize your 2025-2026 tax savings with the Foreign Earned Income Exclusion. Expert advice on Section 911, housing deductions, and expat tax planning.

05/15/2026

Clarity sells—make it easy for clients to say yes.

05/14/2026

Overcharged by COVID-era IRS penalties? A new court says many deadlines were extended through May 2023—so you might be owed a refund. Deadline to protect your claim: July 10, 2026. We can file a protective refund claim for you. Find out if you qualify.

Paid IRS penalties between 2020 and 2023? Midlothian CPA Tom Hawbaker explains how to claim a COVID-era tax penalty refund before the 2026 deadline hits.

05/13/2026

Small change, big impact: the penny costs more to make than it’s worth. Its phase-out will change cash rounding, pricing and cash flow for small businesses. Curious how to protect profits? Find out.

The U.S. penny is being phased out. Discover how this shift impacts cash flow, pricing strategies, and digital payments for your Midlothian small business.

05/13/2026

Self-awareness is your greatest advantage.

05/12/2026

If you invested in a Qualified Opportunity Fund (QOF) using deferred capital gains, pay attention: the law requires that deferred gains be included in income no later than December 31, 2026. That deadline is real, unavoidable unless Congress or the IRS provides relief, and it can mean a large, unexpected tax bill even if your fund hasn’t paid you a dime.

05/12/2026

Even if you think your taxes are carefully completed, your business can get hit with unexpected tax bills, denied deductions, and IRS penalties. Tossing tax documents too soon makes it harder to challenge these risks.

Without records to substantiate your claimed income, expenses, or credits, you risk losing those deductions and credits during an audit, which can lead to owing back taxes plus interest and penalties.

Our team can help you get organized, set up a recordkeeping system, and stay ready for tax season and beyond. Let’s talk before you start cleaning out your files.

05/12/2026

Smart investing can come with even smarter tax benefits.

05/11/2026

Section 529 plans are a powerful financial tool designed to encourage saving for future education costs in a tax-advantaged manner.

05/11/2026

Show up and do the work—success often hides there.