Memon CPA, PLLC

Ready to take your business to the next level? Partner with us and unlock a world of possibilities! With our expert guidance and innovative solutions, we’re here to support your growth every step of the way. Reach out at (682) 564-1848 to learn more about how we can make your business dreams a reality.

Accountants have access to very sensitive financial data. To ensure that your information doesn't wind up somewhere it shouldn't, we are constantly enhancing our digital privacy and security protocols. We are knowledgeable about the most recent security procedures to keep your company safe and secure! Get started with us today by calling us at (682) 564-1848.

Let’s say you filed your tax return and breathed a sigh of relief. Then you realize that you forgot to include something important. In general, you can file an amended return and claim a refund within three years after your original return is filed, or two years after paying the taxes, whichever is later. So, if you filed your 2024 tax return and paid the taxes owed on April 1, 2025, you have until April 1, 2028 to amend the return. Math errors might not require filing an amended return, as the IRS may catch and correct such mistakes. However, file an amended return if there’s a change in filing status, income, deductions, credits or tax liability. Here’s a list of related FAQs: https://bit.ly/42CTcOk. Contact us at (682) 564-1848 with questions or to amend a past tax return.

Even if your attention is focused elsewhere on your business, don’t forget and postpone doing your books! A business can only run smoothly with a proper understanding of your finances and good overall financial health. Try scheduling a time each month to balance your books, typically when your credit card statement is due. If you need extra help with your bookkeeping, call us today at (682) 564-1848 for a consultation.

Ensuring payroll compliance is crucial for your business's success. It goes beyond tax regulations. By accurately managing tax withholdings, submitting deposits timely, and classifying employees correctly, you build trust with your workforce and maintain operational efficiency. Non-compliance can result in hefty fines and unhappy employees. But worry not, we're here to help! Contact us at (682) 564-1848 for expert assistance in staying compliant.

Not everyone is legally required to file a tax return, so it may be tempting to skip it. But if you had federal income tax withheld, made estimated payments or qualify for a refundable tax credit, you could be missing out. The Child Tax Credit is for those with qualifying children under age 17. The Credit for Other Dependents is for those who support certain others, including their parents or children 18 and older. Both of these credits begin to phase out at income limits that are fairly generous. If you paid higher education costs for yourself or an eligible student, you may qualify for an education credit. Contact us at (682) 564-1848 or learn more from the IRS: https://bit.ly/3RNQJeB

Small business owners should remember this simple but important bookkeeping tip: Keep your personal finances separate from your business finances. Mixing the two may create risks for your personal assets, make assessing your company's growth difficult and create extra work when organizing your books. If you need additional help with bookkeeping, we're here to help. Contact us today at (682) 564-1848.

Hiring an accountant is about much more than just saving time - it's also about managing your company as effectively as possible! Accounting professionals like us can assist your with complex financial details and help reduce your stress. Contact us today at (682) 564-1848 for more information about our services.

President Trump has announced that the IRS (and all other federal agencies) must soon stop accepting and issuing paper checks and money orders. His March 25, 2025, executive order calls for a migration to electronic payments by Sept. 30, 2025, (with limited exceptions). The IRS has long encouraged taxpayers to pay electronically for faster, more efficient and less fraud-exposed processing. But by next year’s tax season, taxpayers won’t have a choice. For its part, the IRS will make disbursements via direct deposit or use debit and credit card payments and digital wallets. This order also affects the Social Security Administration, which currently issues a substantial number of paper checks. Questions? Contact us at (682) 564-1848.

We’re here to alleviate any stress and answer all your questions, making this tax season a breeze for you! Call us today at (682) 564-1848 to schedule a consultation or drop by our office. Your financial peace of mind starts with us!

Determining the correct tax filing status isn’t always straightforward. That’s especially true if the parents of a young child live together and aren’t married. Can both parents claim the more favorable head of household (HOH) status? According to the IRS, the answer is no. Only one parent can claim HOH status for a qualifying child. To be eligible, a parent must furnish more than half the cost of maintaining a home for themselves and a child. If both parents contribute equally, the IRS applies a tiebreaker rule to determine who can file with HOH status. Learn more by visiting the IRS at bit.ly/3T5JUp5, or contact us at (682) 564-1848 with questions.