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     Tax & Financial Services  

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Individual tax returns can be very complex depending on source of income.  Income falls under three categories.  Active income which is earned income (wages).   Portfolio income which is dividends, interest, and sale of stock.  Passive income which is  rental real estate, business income that you don't materially participate.  The sources of income have different tax challenges.   We can help navigate and create a positive outcome. 

Partnerships and PLLC

Partnerships are created with a minimum of two or more people agree to start a business together.  Another way is a partnership by default.  This happens when two or more people create an LLC.   Exception: Married couples that are residence of a community property state (Texas) can choose between a partnership or disregarded entity. If partnership, each partner will receive a schedule K-1 which provides a break down of income, losses, and deductions.


Corporations can be taxed in two different ways.  C-Corporation are taxed at the corporate level with  a flat tax rate of 21%.  S-Corporations are taxed at the individual rate.  Individual stockholders will receive a schedule K-1.  The K-1 provides a breakdown income, losses, and deductions.

Additional Services: 

All inclusive Payroll includes processing, direct deposit, quarterly, and annual reporting for a monthly flat rate. (restrictions apply)

Bookkeeping- Includes Quickbooks Online and setup

Financial News

Elon Musk trying to make Twitter profitable.

Job Cuts

Twitter employees have been bracing for layoffs ever since Musk took over and fired the top executive team, including Chief Executive Officer Parag Agrawal. Over the weekend,...

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Treasury says I-Bonds with 9.62% may not be processed by deadline

Some investors aiming to secure an attractive 9.62% interest rate on Series I Savings Bonds before a Friday purchase deadline are reporting having trouble doing business on TreasuryDirect.gov, the website where the government sells the securities.

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EV Tax Credit Expansion 

First and foremost, for EVs placed into service after December 31, 2022, the Inflation Reduction Act extends the up to $7,500 EV tax credit for 10 years—until December 2032

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Student Loan Forgiveness

As the federal government fights with states and other groups over its expansive student loan debt forgiveness plan, the Education Department said Tuesday that it would make permanent some temporary changes to a program that makes it easier

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Greg T. Dunavant, MSA

Greg T. Dunavant founded the company in 1997 to provide tax preparation, payroll, and other accounting services. He earned his Bachelor of Science in Accounting and a Master of Science in Accounting with a focus in taxation.