Howard, LLP

Updates from the financial front

You don’t have to sit in a conference room to benefit from our team’s business and financial insights. In this section, link to the latest news from and about our firm.

Years of Service Celebration: Meet Debbie!

Today we have another team member milestone- Debbie is celebrating one year at Howard! As a Supervising Senior on our Tax team, Debbie has greatly contributed to our firm just in her first year here. Wherever she sees that firm processes can be improved, she speaks up and gives input so that we all have […]

Howard Parents Group

Being a working professional and a parent is much easier said than done. Building a career for yourself takes years of education, work, persistence, and a willingness to continually learn. Things change when a professional enters parenthood. Being a parent requires a new kind of mental, emotional, and physical energy, but it’s also a huge […]

Remote Employees’ Transportation and Travel to the Office: Taxable or Nontaxable?

Many businesses are now allowing employees great flexibility to choose their work location. A common work arrangement allows an employee to regularly work remotely (e.g., from their personal residence) and to work in the employer’s office as needed. Employers are asking whether the expenses incurred by the remote employee to travel to the office can […]

Years of Service Celebration: Meet Josh!

Recently, Tax Partner Josh celebrated his one-year anniversary with Howard! As our newest Partner, Josh brings a unique expertise to the table in international tax. He’s widely respected in the Texas tax community, and we feel lucky to have him on our team. Aside from his wealth of knowledge, Josh has proven to be thoughtful, […]

Years of Service Celebration: Meet Otis!

Today we have an extra special team member anniversary – Administrative Assistant Otis is celebrating 30 YEARS with Howard! Otis plays a unique role here, doing banking, running an array of errands, filing dozens of tax files at a time, making late-night post office runs for tax deadlines, and doing anything he can to take […]

Years of Service Celebration: Meet Cameron!

We’re thrilled to celebrate another team member anniversary today because it’s Cameron’s one-year with the firm! Cameron is a Howard Tax Specialist commonly described as a rockstar and a sincere and genuine person. Get to know more about Cameron’s passions inside and outside of accounting with some Q&A below!   What’s your ‘and?’ (What are […]

Years of Service Celebration: Meet Rebecca!

Happy June! With a new month comes more team member milestones to celebrate. Today we have the pleasure of honoring Rebecca’s one-year anniversary with Howard! An audit analyst who started as a Howard intern, Rebecca is a genuine friend and co-worker known for investing in the people around her. Learn more about her with some […]

The Howard Heart of Texas Conference Room: The Backstory

Amid all of the unknowns of 2020, our Howard Partners made the decision that we would move into a new office space. Their goal was to give us more room to grow as a firm, all while fostering community and teamwork. As more changes have surfaced throughout 2021 and 2022, we’ve made the new office […]

The Future of the Audit in 5 Predictions

Technology is taking auditors into the 22nd century. While auditors are beginning to explore the possibilities afforded by technology, including predictive analytics and the cloud, expectations are changing quickly. Soon, investors and regulators alike will expect auditors to be experts in technology and all the ways it can enhance the audit process. At the same […]

Years of Service Celebration: Meet Drew!

At the Howard office, we’re lucky to be greeted by the smiling faces of our Admin Team each and every morning. Administrative Specialist Drew is one of those team members that puts everyone in a good mood and consistently brings a positive energy to the office.. Today is Drew’s one-year anniversary with the firm, so […]

Inflation: What’s the Buzz About?

INFLATION IS HERE – WHAT NOW?   Inflation vs. Inflationary Pressure Concerns about the elevated inflationary environment continue to persist. There are numerous contributing factors such as a rapid increase in wages, energy prices and an imbalanced global supply chain with demand vs. supply for many goods and services far from equilibrium. To better understand […]

Years of Service Celebration: Meet Tammy!

It’s no secret that, without our fabulous team members, what we do would not be possible. The time and energy each person puts in to giving our clients the absolute best service is highly appreciated and never goes unnoticed. To recognize our team’s contributions in the office and honor their passions outside of work, we’ll […]

Treasury and IRS Release Final LIBOR Transition Regulations

On December 30, 2021, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations addressing the principal tax implications of modifications to debt instruments, derivatives and certain other contracts related to the planned elimination of certain interbank offered rates (IBORs). The final regulations were published in the Federal Register on […]

Seven Technology Industry Predictions for 2022

The technology industry, along with the rest of the world, is struggling with global supply chain disruption, material scarcity, rising transportation costs, unpredictable shutdowns, and an industry-wide labor shortage. Though tech is in high demand, a string of recent events has diminished trust in tech corporations. Calls for tech companies to be more transparent are […]

2021 Year-End Tax Planning for Individuals

As we approach year end, now is the time for individuals, business owners, and family offices to review their 2021 and 2022 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations. Areas potentially impacted by proposed tax legislation still in play should be reviewed, as well as applicable opportunities and relief granted […]

2021 CRYPTOCURRENCY MARKET: YEAR IN REVIEW

Interest in and adoption of cryptocurrency (“crypto”) has been at an all-time high in 2021. In the past year, there have been a number of new, game-changing developments in the space which we will summarize in this piece. In addition to a market update, we will also highlight the most common audit, tax, and advisory […]

2021 Q3 tax calendar: key deadlines for businesses and other employers

Although you might want to enjoy the lazy days of summer, be careful not to miss these third quarter 2021 tax deadlines. Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines […]

Is an S corporation the best choice of entity for your business?

Are you thinking about launching a business with some partners and wondering what type of entity to form? An S corporation may be the most suitable form of business for your new venture. Here’s an explanation of the reasons why. The biggest advantage of an S corporation over a partnership is that as S corporation […]

Howard Made The List: 24th Top North Texas Accounting Firm

Howard, LLP recently ranked as the 24th largest North Texas accounting firm in Dallas Business Journal’s Book of Lists published on March 12, 2021. The publication’s listing included 25 local accounting firms ranked according to the total number of local CPAs. This year’s ranking is a testament to our firm’s commitment to the success and […]

Announcement of New Managing Partner Tim Pike

Howard, LLP is pleased to announce Tim Pike has been unanimously elected by his fellow partners to serve as Managing Partner, effective January 1, 2021, at the conclusion of current Managing Partner Gary Kroll’s term. “I am highly honored to be selected as Howard’s next Managing Partner leading, serving and supporting a talented, client-focused, and […]

A brand 40 years in the making

We’re proud to announce that in 2021 we will be celebrating 40 years of meaningful client relationships. From the start, we listened closely to our clients and made it personal, and that is something that is as true today as it was in our beginnings. After all, there’s nothing more personal than finances (perhaps that’s […]

2021 Howard Promotions

As a sign of our firm’s growth, we are excited to announce the promotions of several team members effective today.  Their dedication and commitment to the firm has been outstanding and invaluable, and we are honored to have them as part of our team. These promotions recognize the contributions each of them has made to […]

New law doubles business meal deductions and makes favorable PPP loan changes

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), which also includes other laws within it. Business meal deduction increased The new law […]

The Howard Spreadsheet: 2020 Annual Update

As we reflect on 2020, there were many significant items to note.  We welcome the opportunity to be your trusted advisors, and we look forward to the conversations we may have as a result of the information shared in our annual update. Howard aims to share valuable insight that can help you prepare for the […]

Easiest way to survive an IRS audit is to get ready in advance

IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should fare well. In fiscal year 2019, the IRS audited approximately 0.4% of individuals. Businesses, large corporations and high-income individuals are more likely […]

Factoring fraud risk into a business valuation

Business value is a function of risk and return. This is why, when appraising companies, valuation experts are always on the lookout for fraud risks. Although valuations typically aren’t designed to unearth dishonest behavior, experts may expand the scope of their engagement if they spot something suspicious — particularly if they believe financial statements are […]

New office. Same trusted advisors.

A brand almost 40 years in the making. In our almost four decades of service we’ve grown from a one-man operation to a company of more than 70 professionals providing a full suite of financial services. To more closely reflect the value we provide our clients, we’re happy to announce we are moving to a […]

Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill.

The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines that otherwise would have fallen on or after April 1, 2020, and before July 15. Retroactive COVID-19 business relief The Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed earlier […]

As Featured in Toggle…Chris Barnes, Accountable in IT and elsewhere.

Though Lean Six Sigma is more common in manufacturing than in professional services, Chris Barnes believes the collaborative effort to reduce waste and unknowns can apply at the North Texas regional accounting and advisory firm, Howard, LLP. Learn more: Chris Barnes, Howard LLP – ToggleMAG.  

Paycheck Protection Program Loan Forgiveness

Clients and Friends! Today we bring you some additional considerations surrounding the Paycheck Protection Program (PPP). In one of our previous communications, we discussed this program, where payroll, benefits, interest, and other costs, and may be forgiven.  When applying for the loan, the business were required to certify that the loan was necessary to support […]

17th Annual Economic Update hosted by Howard, LLP

On Tuesday, April 21, 2020, Dr. Mark G. Dotzour presented during the 17th Annual Economic Update hosted by Howard, LLP. He presented “The Economic Outlook for Investors and Business Decision Makers After the Storm” of which he gave his take on the many impacts of COVID-19 and economic outlook of the United States. Dr. Mark […]

CARES Act: Provisions Summary

Friends and Clients! The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), Congress’s substantial stimulus package, was signed into law on March 27, 2020.  We highlighted the Paycheck Protection Program in last week’s News update (howard-cpas.com/news/cares-act-paycheck-protection-program).  Below is a brief summary of the other provisions in the CARES Act that we believe will […]

CARES Act: Paycheck Protection Program

On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act).  Here is a brief summary of one of the provisions, Paycheck Protection Program. These loans are administered through the Small Business Administration (SBA) through June 30, 2020.  The loans may be forgiven if borrowers maintain their payroll during […]

An important update from Howard, LLP

March 23, 2020 To our valued clients and friends: We would like to take this opportunity to update you on the status of various services we provide in context to new requirements regarding COVID-19.  We hope you and your family are staying healthy and well during this unusual time in our history.  Our hearts go […]

Can business owners reduce tax by using an S corporation?

Do you conduct your business as a sole proprietorship or as a wholly owned limited liability company (LLC)? If so, you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by using an S corporation. Self-employment tax basics The self-employment tax is imposed on 92.35% of […]

Howard Announces Tax Partners

Howard, LLP congratulates Sarah Hancock, Leisha Gardner and Holly Watkins on their recent promotion to Tax Partner. meet our new tax partners Sarah Hancock: Sarah joined the firm in July 2014 as a member of the tax team with over 20 years of tax experience. She has worked with many types of industries and companies, ranging […]

Howard Insights: 2019 Annual Update

We welcome the opportunity to be your trusted advisors, and we look forward to the conversations we may have as a result of the information shared in our annual update. Howard aims to share valuable insight that can help you prepare for the months ahead on your personal returns, as well as in businesses. Learn […]

Which entity is most suitable for your new or existing business?

The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations paid up to 35%. The TCJA also cut individual income tax rates, which apply to sole proprietorships and pass-through entities, […]

DOL expands retirement plan options for smaller businesses

The U.S. Department of Labor (DOL) has released a final rule which should make it easier for smaller businesses to provide retirement plans to their employees. According to the DOL, the rule will enable more small and midsize unrelated businesses to join forces in multiple employer plans (MEPs) that provide their employees a defined contribution […]

Why do companies restate financial results?

Every year, research firm Audit Analytics publishes a study about financial restatement trends. Many of these amendments were due to minor technical issues, however. Any time a company restates its financial results, it raises a red flag and prompts stakeholders to dig deeper. Reasons for restatement The Financial Accounting Standards Board (FASB) defines a restatement as […]

16th Annual Economic Luncheon hosted by Howard, LLP

On Thursday, May 9, 2019 at the Royal Oaks Country Club in Dallas, Texas, Dr. Mark G. Dotzour presented his annual economic update during the 16th Annual Economic Luncheon hosted by Howard, LLP. He presented “The Economic Outlook for Investors and Business Decision Makers” of which he gave his take on the economic outlook of […]

Howard Made The List: 19th Top North Texas Accounting Firm

Howard, LLP was recently ranked as the 19th largest North Texas accounting firm in Dallas Business Journal’s Book of Lists published on April 5, 2019. The publication’s listing included 25 local accounting firms ranked according to the total number of local accounting professionals.

Evaluating your audit committee

Under the Sarbanes-Oxley Act, the audit committee — not management or the full board of directors — is directly responsible for appointing, compensating and overseeing external auditors. Periodically, it’s a good idea to assess the effectiveness of your audit committee by performing a self-evaluation. Here are reasons to conduct a self-evaluation, along with some common […]

2019 Tax Calendar

To help you make sure you don’t miss any important 2019 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them.

IRS provides QBI deduction guidance in the nick of time

When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as individual […]

Howard Insights: Partnership Representatives to Replace Tax Matters Partners

The IRS has continuously had its budget cut and is struggling to keep up with public demand.  It’s not uncommon to be on hold for over an hour when trying to speak with a live person at the IRS.  Thus, the Centralized Partnership Audit Regime was enacted to assess and collect tax at the partnership […]

Federal Government Shutdown Creates Tax Filing Uncertainty

The IRS has announced that it will begin accepting paper and electronic tax returns for the 2018 tax year on January 28, but much remains to be seen about how the ongoing shutdown of the federal government will affect this year’s filings. Although the Trump administration has stated that the IRS will pay refunds during […]

Howard Insights: 2018 Annual Update

We welcome the opportunity to be your trusted advisors, and we look forward to the conversations we may have as a result of the information shared in our annual update. Howard aims to share valuable insight that can help you prepare for the months ahead on your personal returns, as well as in businesses so […]

What do the 2019 cost-of-living adjustments mean for you?

Dallas, Texas, November 2018 – The IRS has announced its 2019 cost-of-living adjustments to tax items that might affect you. Many of the amounts increased to account for inflation, but some remained at 2018 levels. As you implement 2018 year-end tax planning strategies, be sure to take these 2019 adjustments into account in your planning. Bear […]

Howard Insights: Issuing 1099-Misc Forms

Dallas, Texas, November 2018 – Virtually every business will make payments to a non-employee that requires a 1099-Misc form be issued after year end.  Has your business made payments for legal services, consulting, accounting, design, rent, maintenance or cleaning to name a few?  These payments may very well require 1099-Misc forms and information return reporting […]