The Taxsmiths

The Taxsmiths Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from The Taxsmiths, Tax preparation service, 945 Stockton Drive Suite 3120, Allen, TX.

A lot of small Texas businesses assume "no revenue" means "no filing required" with the Texas Comptroller — that's not q...
08/14/2026

A lot of small Texas businesses assume "no revenue" means "no filing required" with the Texas Comptroller — that's not quite right. We put together a quick breakdown of what's actually required.

Comment "FRANCHISE" below or check the graphic for the details.

08/14/2026

A lot of small Texas business owners assume they're too small to worry about the Texas franchise tax. Free guide in the comments to help you check your status.

A lot of small Texas business owners assume they're too small to worry about the Texas franchise tax — and sometimes tha...
08/14/2026

A lot of small Texas business owners assume they're too small to worry about the Texas franchise tax — and sometimes that's true, but not always for the reason they think.

Every taxable entity formed or doing business in Texas (LLCs, corporations, partnerships, etc.) is required to file a Franchise Tax report each year, even if you owe $0. If your total revenue is under the "no tax due" threshold, you may not owe anything, but you may still need to file a No Tax Due Report (or the appropriate information report) to stay in good standing.

Skipping the filing entirely — because you assumed no revenue meant no requirement — is one of the more common ways a small Texas business ends up with forfeited entity status without realizing it.

Do you know whether your business actually filed something with the Texas Comptroller this year, even if you owed nothing?

Section 179 and bonus depreciation both let you write off business purchases faster — but they're not interchangeable. W...
08/13/2026

Section 179 and bonus depreciation both let you write off business purchases faster — but they're not interchangeable. We broke down the key differences so you know which tool fits which situation.

Swipe through 👉 free, no strings attached.

08/13/2026

If you bought equipment or a vehicle for your business this year, you likely have two ways to write it off immediately. Free guide in the comments to help you use them the right way.

If you bought equipment, machinery, or a business vehicle this year, you likely have two ways to write it off immediatel...
08/13/2026

If you bought equipment, machinery, or a business vehicle this year, you likely have two ways to write it off immediately instead of depreciating it over several years: Section 179 expensing or bonus depreciation. They overlap, but they're not the same tool.

Section 179 lets you choose which assets and how much to expense, but it's capped by your business's taxable income (you can't create a loss with it) and has an annual dollar limit. Bonus depreciation currently allows a much larger, simpler write-off and isn't limited by taxable income — but you don't get to pick and choose asset-by-asset the way you can with Section 179.

Using them in the wrong order, or on the wrong assets, can leave money on the table.

Did you know these were two separate elections, or did you assume they were the same thing?

If you pay contractors $600+ this year, you'll need a W-9 on file before you can issue their 1099 in January. We put tog...
08/12/2026

If you pay contractors $600+ this year, you'll need a W-9 on file before you can issue their 1099 in January. We put together a simple checklist to help you get ahead of it now instead of scrambling later.

Swipe through 👉 free, no strings attached.

08/12/2026

If you pay a contractor $600 or more this year, you'll need a completed W-9 before you can issue their 1099 in January. Free checklist in the comments to help you get ahead of it.

If you pay any contractor, freelancer, or vendor $600 or more this year, you'll need to issue them a 1099-NEC in January...
08/12/2026

If you pay any contractor, freelancer, or vendor $600 or more this year, you'll need to issue them a 1099-NEC in January — and you can't do that without a completed W-9 on file first.

The mistake we see every year: business owners wait until January to start chasing down W-9s, right when everyone's hardest to reach and the deadline is looming.

The fix is simple — collect a W-9 before you pay a new contractor for the first time, not after. If you're not sure who you still need one from, now (not December) is the time to check.

Do you have W-9s on file for everyone you've paid $600+ so far this year?

If you're self-employed and pay for your own health insurance, there's a deduction worth knowing well — but it comes wit...
08/11/2026

If you're self-employed and pay for your own health insurance, there's a deduction worth knowing well — but it comes with a few rules people miss. We broke down who qualifies and how it works.

Swipe through 👉 free, no strings attached.

Address

945 Stockton Drive Suite 3120
Allen, TX
75013

Alerts

Be the first to know and let us send you an email when The Taxsmiths posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share