What are the opening hours?

Monday 9am - 4:30pm Tuesday 9am - 4:30pm Wednesday 9am - 4:30pm Thursday 9am - 4:30pm

Gina B. Clark, CPA PLLC

Home
United States
Magnolia, TX
Gina B. Clark, CPA PLLC

We specialize in small business accounting, bookkeeping and tax services along with individual tax services. Our services are tailored to meet your needs.

Accounting is what we do best. Gina B. Clark, CPA PLLC is licensed in the state of Texas. We are a dedicated CPA firm specializing in personalized accounting and tax services for small businesses and individuals. With a strong focus on building lasting client relationships, we provide reliable accounting guidance, accurate tax preparation services, and year-round support to help you make informed decisions. Whether you are a small business owner looking to streamline your accounting or an individual navigating complex tax matters, our goal is to simplify the process and deliver peace of mind through expert service and trusted advice.

10/05/2026

If you own a life insurance policy and your estate exceeds the gift and estate tax exemption amount, a portion of its proceeds could be lost to estate tax. If you don’t own the policy, the proceeds won’t be included in your taxable estate. Using an irrevocable life insurance trust (ILIT) can keep life insurance policies out of your estate. An ILIT owns one or more policies on your life, and it manages and distributes policy proceeds according to your wishes. You aren’t allowed to retain any powers over the policy, such as the right to change the beneficiary. Contact us at (281) 259-1040 to discuss whether an ILIT might be appropriate for your situation.

10/02/2026

If you’re responsible for collecting, accounting for or remitting federal taxes withheld from employee paychecks, beware of the trust fund recovery penalty (TFRP). As a responsible individual, you may be personally liable for a 100% penalty on income and employment taxes your business either fails to collect or fails to remit to the IRS. Your actions must be “willful,” meaning you’ve been, or should have been, aware of the responsibility and either intentionally disregarded the law or were indifferent to it. According to the IRS, no “evil intent or bad motive” is required. Call us at (281) 259-1040 if you receive a letter from the IRS about the TFRP or for help with tax compliance.

09/30/2026

Owning assets jointly with your adult child can invite unwelcome tax consequences that may outweigh potential benefits. For example, owning an asset together as “joint tenants with right of survivorship” can open up transfer tax exposure. If you add your child to the title of property you already own, it may be considered a taxable gift of half the property’s value. And when you die, half of the property’s value will be included in your taxable estate. A properly designed trust can be a more tax-efficient option. Call us at (281) 259-1040 for details.

09/28/2026

Applying for a business loan can feel like a catch-22. On one side of the desk is the risk-averse lender, who’s willing to loan money only to successful business owners. On the other side is the business owner, who needs the funds to grow and be successful! To avoid this paradox, approach a loan as a partnership rather than a provider-customer interaction. After all, if you were going into business with someone, you’d want to clearly understand their vision for the venture. Contact us at (281) 259-1040 for help effectively presenting your business plan and financials to prospective lenders.

09/25/2026

Wondering how Sec. 530A accounts (also known as Trump Accounts) may be invested? The IRS has issued proposed regulations clarifying the investment options allowed during the “growth period.” This period begins when the beneficiary’s initial account is established and ends on Dec. 31 of the year the child turns 17. During this time, eligible investments generally include mutual funds or exchange-traded funds that track an equity index of mainly U.S. companies, don’t use leverage, and have annual fees and expenses of no more than 0.1% of the fund’s balance. The proposed regulations would apply to tax years starting on or after Jan. 1, 2026. Call us at (281) 259-1040 with questions.

09/23/2026

Are you paying yourself and family members who work in your business reasonable compensation? The IRS requires compensation (including salaries, bonuses and perks) to reflect services performed and be comparable to compensation for similar roles in similar organizations. This is especially important for owner-employees and related parties. Payments to relatives may be deductible, but only if they represent reasonable wages for bona fide services and are well documented. Excess compensation may be reclassified as nondeductible distributions of income, while underpaying may raise payroll tax issues. Regularly reviewing compensation practices can help reduce audit risk. Call us at (281) 259-1040 for guidance.

09/21/2026

Tax returns and financial statements are important. But you know we can do so much more, right? Think of us as your year-round, human source of practical guidance. We can help you better understand the ups and downs of your cash flow, spot opportunities to cut costs or improve profitability, and plan for growth with greater confidence. Call us at (281) 259-1040 to learn more and get the strategic support you need to achieve your business goals.

09/18/2026

The Financial Crimes Enforcement Network (FinCEN) is making permanent the suspension of the beneficial ownership information (BOI) reporting requirements for U.S. companies and U.S. persons. If these Corporate Transparency Act requirements had gone into effect, millions of U.S. businesses would have faced the administrative burden of an initial BOI filing and subsequent updates for any BOI changes. FinCEN will also delete previously reported information it believes belongs to U.S. persons (such as information linked to U.S. driver’s licenses and U.S. passports). Foreign entities that are reporting companies must still report BOI for foreign individuals. Call us at (281) 259-1040 if you have questions.

09/16/2026

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about future estate tax liability. A spousal lifetime access trust (SLAT) may help. A SLAT can allow you to remove wealth from your estate tax-free while providing a safety net if your needs change in the future. Essentially, a SLAT is an irrevocable trust you establish for the benefit of your spouse plus your children or other relatives. Your spouse is granted limited access to the trust’s funds during his or her lifetime, giving you indirect access. Call us at (281) 259-1040 to discuss whether a SLAT makes sense for you.

09/14/2026

Monthly financial statements are essential. But they often take weeks to prepare and may arrive after you’ve already made critical business decisions. Flash reports can help bridge that gap by providing real-time snapshots of critical metrics — such as cash balances, collections and payroll. These reports provide timely insight into financial performance, allowing you to identify emerging issues before they become major problems. Because flash reports are preliminary, you should use them as management tools, not formal financial statements. Call us at (281) 259-1040 to discuss how customized flash reports can help your business make faster, more informed financial decisions.

Address

503 Commerce Street
Magnolia, TX
77355

Opening Hours

Monday	9am - 4:30pm
Tuesday	9am - 4:30pm
Wednesday	9am - 4:30pm
Thursday	9am - 4:30pm

Website

http://www.ginabclarkcpa.com/

Alerts

Be the first to know and let us send you an email when Gina B. Clark, CPA PLLC posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Gina B. Clark, CPA PLLC:

Want your business to be the top-listed accountant in Magnolia?