Austin Legal Blog

When you are building a commercial space or residential property in Texas, you expect that the construction company, contractor or other parties will provide a quality product. Unfortunately, that is not always the case. In fact, you may learn that there are defects and issues with the construction project that could cost you both time and money. 

Upon discovering a construction defect, you may attempt to have the contractor, builder or construction company fix it. If asking the responsible party to fix the problem is not effective, it may be necessary to seek legal recourse. Disputes over construction projects and contracts can be complex, but you do not have to navigate them on your own. 

The end of the year tends to be a flurry of closing out the books, managing holiday staffing and panicking about the New Year. Most businesses have already dealt changes in the new tax plan, but there are several useful tips from financial experts that can enable owners to enter the new year with a running start.

1. Go through your books: Look at how your company did this year and measure the crunched numbers against what you expected going in. Also, check with your accountant to make sure that you have all the necessary information for them to start working taxes.
2. Spend money: It may be possible to spend more money on the business to maximize your deductions. It can be as simple as paying bills before the end of the year, buying equipment or stocking up on office supplies.
3. Defer income: It may be smart to defer income until after January 1 if it keeps you in a lower tax bracket.
4. Check inventory: Owners may be able to claim additional deductions if the market value of the inventory is down.
5. Look at a retirement plan: This is another great way to lower one's tax obligations. If possible, up your usual amount to the legal maximum to shield that money. If you do not have one, there is still time.
6. Donate to charity: It is the holidays, so it is the season for giving. Pick non-profits recognized by the IRS in order to best claim that deduction. It need not be cash - it may be possible to reduce inventory while claiming fair market value.

The Internal Revenue Service recently released its annual report on criminal enforcement in fiscal 2018, which ended September 30. The announcement touted that the Criminal Investigation team is using “cutting-edge technology combined with sophisticated investigative work.”

Moving forward, the organization pointed to data analytics as the driving force for identifying areas of non-compliance. The IRS’s CI is also branching out despite the reduction in staff size to under 2,100, which is the lowest it has been since the early 1970s.

After a loved one dies, you have many important matters to resolve. These may be welcome distractions, but after a while, you may simply want to step away from your time of grief and move forward with your life. However, you are not entirely free to do this until probate is over.

The process of probate is the legal closing of your loved one's estate. This necessary legal procedure verifies your loved one's ownership of the assets and the identity of the heirs. It is also time for your loved one's creditors to receive payment for any debt the estate owes. Because there are typically many entities involved, probate can take a considerable amount of time.