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Updated by kftaxacc-p-c on Jun 26, 2020
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KF Tax & Accounting, P.C.

Qualities a Certified Public Accountant Must Have

Certified Public Accountants (CPAs) in tax accounting firms in Texas and other areas hold a vital role in maintaining the financial health of a particular organization. They must possess the right set of skills and sufficient knowledge in their field.

Thus, we have listed some qualities that any CPA or provider of accounting and bookkeeping services must have:

Understanding State and Federal Income Taxes

The income tax system in the United States is pretty straightforward—a certain percentage is applied to your taxable income based on the law. However, it can also be really confusing, especially when you have to deal with both the federal and state collect taxes. In some cases, even the local government imposes income tax on its constituents.

What to Know About Form 1099-NEC

In light of the Internal Revenue System reviving the old form 1099-NEC to report all nonemployee compensation, we at KF Tax & Accounting, P.C, one of the leading tax accounting firms in Texas, has created the following explainer.

Quick note: Form 1099-NEC replaces 1099-MISC for reporting payments

Received a Backup Withholding Notice? Here's What to Do

For small fledgling business owners, balancing daily operations and other matters such as payroll processing and tax filing is hard enough, and with a notice on top, this can quickly turn into a nightmare.

As one of the leading tax accounting firms in Texas, we’ve compiled a guide so you will know where to start when you receive a notice, particularly backup withholding notices.

E-Filing? Check Your Eligibility First

E-filing is an IRS-recommended method of filing your taxes, which makes use of tax preparation software to do so. Like anything that uses the Internet, the biggest benefit of e-filing is similar—convenience at the comfort of your home. However, while there are different e-filing systems that IRS has partnered with, it does not endorse one as better than the other.

What Exactly Happens When You Miss Tax Payments?

As a taxpayer, you know that delaying and not paying taxes can only get you in precarious situations. However, our experience as one of the leading tax accounting firms in Texas at KF Tax & Accounting, P.C. has taught us that it’s common for many taxpayers to be unaware of the exact consequences this brings.

Top Reasons Why Some Fall Behind their Taxes

Falling behind your taxes is one of the scariest experiences you can encounter as a taxpayer; only second to getting the heavier collection sanctions of liens, levies, or seizures.

As a provider of tax services in Round Rock, Texas, we at KF Tax & Accounting, P.C., have provided solutions to various tax problems—most of which are due to the following reasons:

Owe the IRS? Start Here

Owing the IRS is more common than you think. And settling your debt, as with most IRS problems, can be easy, too, once you learn where to start.

Most Common Tax Problems and Their Remedies (Part 1)

Whether you are a seasoned filer or a newbie, you are bound to bump into problems along the way. As one of the leading tax accounting firms in Texas, trust us when we say that we’ve encountered them all from our clients.

Most Common Tax Problems and Their Remedies (Part 2)

Tax is complicated, no doubt about it. So, you would need every guide and resource you can get your hands on to make sure you’re paying your taxes right and you know what options to explore should you have tax troubles.