Meet our Team – David Arnow

David became a member of the RBC team in 2022 when he began his career in accounting as an intern in the Audit Department. He previously worked as a

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How Do You Move Transactions from Your Bank into QuickBooks Online?

Manual transaction entry doesn’t make sense anymore – not when QuickBooks Online makes the process of importing them from your bank so easy. If you enter them on your

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Things to Consider When Starting a Business

When you are starting a business there are several possible business entity types that need be considered to make sure you get started off on the right foot and

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Mid-Year Tax Planning Checklist

Waiting until after the close of the tax year to worry about your taxes can result in missed opportunities that could have reduced your tax liability or provided financial

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Research Credit Available as a Payroll Tax Credit Doubled by the Inflation Reduction Act

The Inflation Reduction Act that President Biden signed into law in August of 2022, has a provision that could benefit many small business startups, allowing them to potentially double

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Employee or Independent Contractor – A Primer for Employers and Employees

It is not uncommon for employers to misclassify employees as independent contractors, either to intentionally avoid their withholding and tax responsibilities or because they are not aware of the

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Tax Changes Coming After 2025

By now, you have probably gotten used to the provisions in the Tax Cuts and Jobs Act (TCJA) that became effective January 1, 2018. But don’t forget most of

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New Employee Onboarding Best Practices: Factors to Consider for Success

According to one recent study, replacing an employee who has left your business can cost between 50% to 60% of that person’s salary. This is why it’s virtually always

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Seasonal Summer Employees Can Provide Tax Benefit

Summer is upon us, which signals the need for seasonal employees to fill in for workers who are on vacation during the busy months ahead and even for some

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Meet our Team – Dominique Hatzenbuehler

Dominique joined RBC in 2022 and has over ten years of experience in accounting, where her work has previously focused on the construction and scrap industries. She is currently

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RBC Recognized Among the Top 50 Construction Accounting Firms

Ridout Barrett & Co. (RBC), a Central and South Texas accounting firm, has been recognized as among The Top 50 Construction Accounting Firms™. This honor was awarded by Construction

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Meet our Team – Yesenia Reyes

Since joining the firm in 2022, Yesenia has been a valuable CAS Associate, specializing in bookkeeping, tax, and payroll. With over a decade of experience in the accounting field

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5 Ways QuickBooks Online Can Make You More Profitable

QuickBooks Online is really good at a lot of things. It helps you create and manage contact records and sales forms. It can keep you apprised of your online

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Procrastinating on Filing Your Taxes?

 If you have been procrastinating about filing your 2022 tax return or have not filed other prior year returns, you should consider the consequences, including the penalties, interest, and

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Is an SBA(7) Loan Right for Your Business?

It’s safe to say that the millions upon millions of small and mid-sized businesses operating right now are the true foundation of the United States economy. But whether you’re

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Did You Get a Letter from the IRS? Don’t Panic.

Now that most tax refunds are deposited directly into taxpayers’ bank accounts, the dream of opening your mailbox and finding an IRS refund check is all but a thing

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RBC Announces New Partner

San Antonio, TX – The local accounting firm of Ridout Barrett & Co., PC (RBC) is pleased to announce the promotion of Patty Wetz, CPA, to the firm’s Partner

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How CPAs Help Construction Firms Obtain and Maintain Bonding

By John Moore, CPA, CFE Construction firms need to obtain bonds to secure contracts and demonstrate financial responsibility to their clients. In this competitive industry, it’s essential to have

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Meet Our Team: John Moore, CPA, CFE

John joined the RBC team in 2022 serving as an audit senior. John established his professional accounting career in 1997, becoming a certified CPA in 2009. With his position

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5 Things You Should Do Every Time You Open QuickBooks

Usually when people talk about habits, they’re trying to find ways to break bad ones. Sometimes it’s difficult to even trace them back to how they got started. They’ve

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Tax Consequences of Crowdfunding

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. Several sites host money-raising projects for fees generally ranging from 5 to 9%, including

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Warning Signs That You Should STOP Managing Your Own Books  

On the one hand, it’s almost a prerequisite for entrepreneurs of all types to have that “can-do spirit.” That sense that nobody else sees things quite like they do

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When Can You Dump Old Tax Records?

Taxpayers often question how long records must be kept and the amount of time IRS has to audit a return after it is filed. It all depends on the

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Want to Improve Your Cash Flow? Shorten the Amount of Time it Takes to Get Paid

To say that things are uncertain right now when it comes to the economy is, in all probability, a bit of an understatement. Inflation is at levels we haven’t

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Roundup of Individual Tax Changes For 2023

Two recently passed pieces of tax legislation have brought about several tax changes for 2023 that may affect you. The legislation includes the Inflation Reduction Act and the Secure

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Don’t Get Hit with IRS Underpayment Penalties

Under federal law, taxpayers must pay taxes during the year as they earn or receive income, or they can find themselves falling victim to substantial underpayment penalties. Even worse,

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Meet Our Team – Amber Haeberle, CPA

Amber became part of RBC in 2022 and brings over seven years of experience to her role of Audit Manager. She specializes in work within the construction and not-for-profit

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The New Lease Accounting Impact on Construction Industry

By John Moore, CPA, CFE In 2019, the Financial Accounting Standards Board (FASB) implemented ASC 842, a new lease accounting standard. The new standard requires companies to account for

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It’s Not Too Late for an IRA Contribution

Most of the time an expense that may be tax deductible needs to be paid by the end of the year for which the expense will be claimed. However,

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Don’t Ignore Household Employee Payroll Tax Rules

If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that

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Haven’t Filed Tax Returns for Multiple Years? Here’s What You Need to Do Next

You’d be hard-pressed to find someone who actually enjoys the process of filing taxes. Having said that, it’s absolutely something that you’re supposed to do like clockwork every single

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Are You Worried You Won’t Have Enough Money Saved for Retirement?

All of us dream of one day being able to retire – to finally be able to relax and enjoy the lifestyle we worked so hard for. However, you’ll

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Are You an S Corporation Stockholder? Are You Taking Reasonable Compensation in the Form of Wages?

S corporation compensation requirements are often misunderstood and abused by owner-shareholders. An S corporation is a type of business structure in which the business does not pay income tax

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Be On the Outlook for Tax Reporting Forms

With tax season upon us, documents reporting income, sales and other items needed for your 2022 tax return should have arrived or will be arriving soon. Be on the

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What You Need to Know About Converting an S Corp to a C Corp

The type of business that you’re running has major implications in virtually all areas of your operations, especially when it comes to federal taxes. An S Corporation (or S

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Married? Know Your Filing Options

Married taxpayers generally have the option to file a joint tax return or separate returns, a filing status commonly referred to as married filing separate (MFS). If you are

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Jeremy Crow Earns the Certified Construction Industry Financial Professional (CCIFP) Designation

Jeremy Crow is now among the most highly qualified construction financial professionals in the industry, having recently earned the Certified Construction Industry Financial Professional (CCIFP) designation. According to the

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Wonder What a Tax Deduction Is Worth?

Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward

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Start Off on the Right Foot for the 2023 Tax Year

If your 2022 refund or balance due turns out not to be the desired amount, you may want to consider adjusting your withholding based on your projected tax for

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What Is Business Cash Flow?

As the name suggests, cash flow is a term used to describe the money coming into and out of a business. Cash received – like money being paid to

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The Tax Consequences of Gig Work

Over the last decade, in particular, the definition of the term “career” has changed. Rather than being employed by a single entity for which you receive a W2 at

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Time is Running Out to Take Your 2022 RMD

Required Minimum Distributions (RMD) are required taxable distributions from qualified retirement plans and are commonly associated with traditional IRAs, but they also apply to 401(k)s and SEP IRAs. The

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IRS Plans On Targeting Abusive ERTC Claims

Have you seen those ads on television or received email solicitations promoting a large tax credit? The large tax credit they are referring to is the employee retention tax

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Inflation Reduces Income Tax

As the country emerges from the COVID pandemic and supply chain issues, along with the fallout from the war in Ukraine, the country has been experiencing high inflation rates

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The San Antonio Express-News Names Ridout Barrett CPAs & Business Consultants One of the San Antonio Metro Area Top Workplaces for 2022

SAN ANTONIO, TX – The San Antonio-based accounting and consulting firm Ridout Barrett CPAs & Business Consultants (RBC) is pleased to announce that the firm has been named one

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IRS May Extend The Transition Period For Compliance Regarding Research Credit Refund Claims

This article explains that in 2021 the IRS announced that “refund claims for section 41 research credits must include detailed information in five specific areas, with claims failing to

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Here is What To Watch For as the Feds Get Tougher on Inflation

This article explains how the FED is “deadly serious about reducing inflation” and does not wish to stop until inflation is at 2%. Lower inflation rates seem appealing, however,

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Screening Online Candidates

This article explains that companies often get unqualified candidates after posting an opening for a job. An Indeed survey found that out of 1,000 small business owners, “58% have

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Tax Audit

The Importance of Cost Segregation as Audit Risk Rises

This article explains that President Biden has created the Inflation Reduction Act, in which the IRS has been granted $78 billion to hire 87,000 new employees from now until

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The Importance of Cost Segregation as Audit Risk Rises

This article explains that President Biden has created the Inflation Reduction Act, in which the IRS has been granted $78 billion to hire 87,000 new employees from now until

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How Can Your Small Business Qualify for Available Grants

This article explains different opportunities for small businesses to receive a grant to help their business grow. In Nebraska, financial technology services provider Fiserv is offering grants of $10,000

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Divorce and Taxes – What Are the Implications?

This article explains the precautions to take when getting a divorce, and several tax concerns that need to be addressed to ensure that taxes are kept to a minimum

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4 Tips to Save at the Pump With or Without a Gas Tax Holiday

This article explains that the Biden Administration has proposed a federal gas tax holiday in order to help US citizens with the current gasoline prices. Unfortunately, Patrick De Haan,

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The SBA steps in again: new rule makes changes to borrower forgiveness

The Paycheck Protection Program (PPP) saved thousands of small businesses from the worst of the pandemic. However, with principals coming due, thousands of businesses still have trouble paying back

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409A Valuations and Stock Options

Stock options are often used by startups and growing companies to incentivize employees and consultants, attract board members, and secure funding. While leveraging stock options can be efficient and

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Is a Roth IRA Conversion Right for You?

Should I convert my retirement plan to a Roth IRA? It’s an important question, particularly considering the Biden administration’s intent to raise taxes on high-earning individuals. Given the often-sizable

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How Health Savings Accounts Work

Financial experts tout the benefits of a Health Savings Account, or HSA, but many people are not familiar with how they work. HSAs offer unique benefits that you won’t

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