Henry & Peters, PC

07/22/2026

Friendly summer hours reminder ☀️

Henry & Peters offices will be closing at noon on Fridays through July 31 as part of our summer schedule.

Office Hours:
Monday–Thursday: 8 AM–5 PM
Friday: 8 AM–12 PM

07/22/2026

Giving back is an important part of who we are.

A big thank you to Chloe, Michelle, and Jenna from our Frisco office for volunteering at Seven Loaves Food Pantry in North Plano.

07/21/2026

Rising home values are leaving some homeowners with large gains when they sell. But that doesn’t necessarily mean a large tax bill. If you sell your principal residence and meet certain requirements, you can exclude up to $250,000 of gain ($500,000 for joint filers). Gain that exceeds the exclusion or doesn’t qualify for it, however, is subject to long-term capital gains tax (or short-term capital gains tax if you haven’t owned the home for more than a year). It also could be subject to the net investment income tax if your income is over a certain amount. Contact us before putting your home on the market. We can help you estimate the tax impact and discuss possible planning opportunities.

https://www.henrypeters.com/when-the-sale-of-an-appreciated-home-triggers-taxes-and-when-it-doesnt/

07/17/2026

Do you operate a side gig in addition to your regular job? The way the IRS classifies that activity can have a significant impact on your taxes.

If the IRS treats the activity as a hobby, you’re required to report the income but can’t deduct most related expenses. If it’s treated as a business, you can generally deduct ordinary and necessary expenses — even if that results in a net tax loss. The IRS considers several factors when evaluating profit motive, including how you operate the activity, the time you invest, and your history of profits and losses.

If your side business isn’t yet profitable, contact us to discuss your situation. We can suggest strategies to help strengthen your position.
https://www.henrypeters.com/dont-let-the-irs-treat-your-sideline-as-a-hobby/

07/17/2026

Congratulations to our newly promoted Supervisors!

Join us in celebrating Laci, Whitney, Leah, Jose, and Alexandra on this well-deserved achievement.

07/17/2026

Now hiring in Tyler, TX!

Henry & Peters is looking for a Front Office Administrative Support staff member to join our team. If you're organized, professional, and enjoy creating a welcoming experience for clients while being part of a collaborative office team, we'd love to hear from you.

This role is perfect for someone with administrative or customer service experience who takes pride in staying organized, communicating effectively, and helping a team succeed. We offer competitive pay, great benefits, work-life balance, and the opportunity to grow with one of Texas' most respected public accounting firms.

Ready to make a difference? Apply today:

Front Office Administrative Support Tyler, Texas Join Henry & Peters, one of Texas' most respected public accounting firms, in our Tyler office. We are seeking a friendly, administrative professional who enjoys delivering exceptional customer service, creating great first impressions, and suppor...

07/16/2026

Congratulations to Colton Eldridge, Karleigh Foster, and Jenny London on their well-earned promotions to Manager!

We’re excited to see them continue to grow in their new roles and help lead our team into the future.

Congratulations on this well-deserved achievement! 👏

07/13/2026

Congratulations to TXCPA East Texas on being named the Outstanding Medium Chapter at the TXCPA Annual Meeting in San Antonio.

This recognition reflects an incredible year of impact through education, outreach, scholarships, support for future CPAs, and community service. We’re especially proud of Henry & Peters team members Kevan Kirksey, Jeni, and Ginny for their involvement and continued commitment to TXCPA East Texas. Kevan, a Partner in our Tyler office, also served as the chapter’s Immediate Past President.

Congratulations to the entire chapter on this well-deserved honor.

07/13/2026

Mergers and acquisitions provide growth opportunities. But they also introduce accounting challenges after the deal closes. Under U.S. Generally Accepted Accounting Principles, the buyer must determine the cash-equivalent purchase price and then allocate it to the acquired assets and liabilities based on their fair values. The process is more complicated when a deal includes noncash terms (such as earnouts) and intangible assets that aren’t reported on the seller’s balance sheet (such as goodwill).

Contact us for help navigating the accounting rules for business combinations and other post-deal reporting requirements.
https://www.henrypeters.com/accounting-for-business-combinations/