What is a HIPAA release?
February 9, 2010
HIPAA (the Health Insurance Portability and Accountability Act of 1996) requires health care providers to be very careful how they release health care information. All health care providers are required to make reasonable efforts to limit the release of protected health information to the minimum necessary to accomplish the intended purpose of the particular disclosure or request for disclosure. More »
What is a sole proprietorship?
December 30, 2009
A sole proprietorship is the common and form of business. Most small businesses begin as sole proprietorship, and many family-run businesses continue to use this form. In a sole proprietorship, a single individual engages in a business activity. There is no formal paperwork required by the state of Texas in order to start or form a sole proprietorship. More »
City Council Reappoints Peterson
December 18, 2009
The Bryan City Council reappointed Chris Peterson to a position on the Board of Directors of the Research Valley Partnership. Peterson will continue to serve on the Board until June 2011, when he will be eligible for reappointment. Currently, he holds the position of Treasurer for the RVP. More »
Chris Peterson ends Bryan Business Council tenure
December 17, 2009
On December 14, 2009, Chris Peterson presided over his last official meeting of the Bryan Business Council. Peterson was appointed by the Bryan City Council to the post in January 2004, and served the maximum term of 6 years, including the last 2 years as President of the BBC. More »
How to form an LLC in Texas
August 15, 2009
Many companies in Texas choose to use a limited liability company (or LLC) for their business. LLCs are great small business entities because they provide limited liability while also providing flexibility for taxing purposes. More »
Peterson named Treasurer of RVP
May 27, 2009
Chris Peterson was named the Treasurer of the Board of Directors for the Research Valley Partnership. More »
College Station's Draft Comprehensive Plan
May 23, 2009
The City of College Station has come out with a draft of their Comprehensive Plan. More »
Collect your invoices quick or you won't get paid
April 16, 2009
A recent study revealed that bill more than 60 days past due can collected about 89% of the time. However, that number drops to 67% after 6 months, and to 45% after 1 year. More »
College Station's New Zero Rise Floodplain Ordinance Taking Shape
April 7, 2009
The City of College Station has come out with a draft zero rise floodplain ordinance. More »
2009 First Time Home Buyer Tax Credit
March 10, 2009
There is a new tax credit available for first time home buyers. The tax credit is $8,000 and does not have to be repaid. More »
College Station's Draft Tree Preservation Ordinance
March 10, 2009
On March 26, 2009, the College Station City Council is going to consider a tree preservation ordinance that has been in the works for some time. This ordinance will affect both developers and homeowners, so it is something that all should be aware of. More »
Peterson named to RVIC Board
April 5, 2008
Chris Peterson, a partner with Swearingen, Peterson & Benn, LLC, was recently appointed to the Advisory Council for the Research Valley Innovation Center, a business incubator formed by the Research Valley Partnership. More »
IRS Small Business Guide is available online now
April 2, 2008
The Small Business Resource Guide 2008, a one stop source for all the information a small business owner needs to comply with federal tax laws, is now available on IRS.gov. More »
EPA issues new regulation on lead-based paint
April 1, 2008
The Environmental Protection Agency has come out with a new lead-based paint rule that will affect the building and remodeling industry. More »
Texas Vehicle Exemption for Personal Vehicle Used in Business
March 25, 2008
Don't ignore April 1 deadline for exempting your vehicle from taxation. You already know you aren't required to pay property tax on your personally owned vehicle that you also use for business purposes. But do you know how your local appraisal district is handling this exemption? More »
Business Mileage Rates Increase for 2008
March 24, 2008
Beginning Jan. 1, the 2008 optional standard mileage rate for business use of a car (including vans, pickups or panel trucks) is 50.5 cents per mile. The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. More »
Like Kind Exchanges (1031 Exchanges)
March 24, 2008
The IRS recently came out with a new fact sheet answering some of the most common questions involving like-kind exchanges. The new fact sheet can be found below or by clicking this link. More »
New service from the IRS -- verifying Social Security information and identities
August 29, 2007
The IRS now has a website that allows employers to verify social security numbers and match them to the correct names. More »
What changes were made to the minimum wage law?
July 11, 2007
The Fair Labor Standards Act increases the federal minimum wage in three steps: More »
Are limited liability partnerships really required to have insurance?
June 18, 2007
Absolutely yes! The San Antonio Court of Appeals recently concluded that individual LLP partners were personally liable on a commercial lease because the LLP failed to comply with the requirement that it carry insurance covering errors, omissions, negligence, incompetence, or malfeasance. More »
I sold my home for a profit. Do I have to pay taxes on that?
June 9, 2007
If you sell your home, you may be able to exclude from income any gain (the amount of your profit) up to a limit of $250,000 ($500,000 on a joint return in most cases). More »
How do we report taxes for a small business owned by my husband and I?
June 6, 2007
Legislation signed last week simplifies reporting for husband and wife owned businesses. The new law, effective for tax years beginning after Dec. 31, 2006, allows a husband and wife who file a joint return to elect to report income or losses in proportion to their interest in the business and not as a partnership. More »
What can I depreciate in my business?
June 1, 2007
In general, if business property is expected to last more than one year, the entire cost cannot be deducted as a business expense in the year you place it into service. It must be depreciated over the property's useful life (as defined by the Internal Revenue Code). More »
What is the plan for growth and development on the east side of College Station, Texas?
June 1, 2007
Since we are located in College Station, Texas, we get asked this question a bunch. College Station, which is home to Texas A&M University, is booming. This surge in jobs, residents and development has led to a myriad of traffic problems not previously seen here. However, there has been a plan proposed by a traffic consultant hired by the City. The plan extensively changes traffic patterns in east College Station, and will lay the groundwork for future subdivision and retail development in that area of town. The report can be found by clicking here. More »
How often do I have to pay my employees?
May 31, 2007
The Texas Payday Law ("Texas Payment of Wages Act") governs how and when employees of private employers get paid. Executives and professionals (like lawyers or doctors) must be paid at least once per month (i.e. monthly). All other employees must be paid at least twice per month. More »
I just started a business. What does it mean that I have to pick an "accounting year" and "accounting method?"
May 30, 2007
This is often confusing for folks who are just starting a business. The IRS website helps explain the different options available: "All taxpayers - including small businesses - must report income and expenses on an annual basis. More »
Can I collect a real estate commission?
May 22, 2007
In Texas, only a licensed real estate agent or a licensed attorney can collect a real estate commission. Chapter 1101 of the Texas Occupations Code specifies as follows: More »
Where should I go for tax return preparation?
May 16, 2007
We use a certified public accountant in our local area who commonly deals with small business owners. However, there is no right or wrong answer to this question. The IRS website does offer some very practical tips on choosing a tax preparer. More »
How do I get my homestead exemption on my new home?
November 2, 2006
Certain types of property will qualify for an extra Texas property tax rebate called the homestead exemption. Basically, the homestead exemption allows you to pay less in taxes on your home than you would normally be entitled. More »
I lost my social security card. How do I get another one?
November 1, 2006
You can replace your Social Security card for free if it is lost or stolen. However, you are limited to three replacement cards in a year and 10 during your lifetime. Legal name changes and other exceptions do not count toward these limits. More »
What should I do if some steals my identity?
October 29, 2006
Here are some practical steps for you to take if you become a victim of identity theft. More »
Social Security cost of living increases announced
October 29, 2006
The Social Security Administration announced that social security and SSI recipients will have a 3.3% increase in their benefits. This increase is a cost of living adjustment. If you receive social security or SSI, you will see a slight increase in your checks. More »
How can I obtain a credit report?
October 27, 2006
You can contact one the 3 major credit reporting agencies. More »
How can I protect myself from identity theft?
October 26, 2006
Identity Theft is now a big issue and is becoming more common everyday. The following are some common sense steps to protect yourself from someone stealing your identity and hurting your credit or your finances. More »
