Platinum Tax Management

10/11/2026

New week, new possibilities. What’s one thing you’re looking forward to this week? 🌞

10/08/2026

If you’ve recently received a legal settlement or award, it’s critical to understand the tax implications. Generally, compensation for physical injuries or sickness is tax-free. But awards for lost wages, emotional distress and punitive damages typically are taxable. Attorneys’ fees are another area that can trip up recipients. Even if your lawyer is paid directly out of your settlement, you’re generally taxed on the full amount before fees are deducted. This means you may owe tax on money you never actually receive. The bottom line is that the way a settlement is structured can significantly affect your tax liability, making professional guidance essential. Call us today at 713-444-1494 for assistance.

10/07/2026

Fall is here! 🍂🏡

Get your home ready for the season with a few simple updates. Bring on the cozy with warm textures, check your outdoor lighting as the days get shorter, and give your entry a seasonal refresh to welcome guests in style!

What’s your favorite way to decorate for fall? 🎃🍁

10/07/2026

As your business grows, more people may need access to your accounting system. But when was the last time you reviewed the system’s user permissions? Outdated or excessive access can increase the risk of fraud, errors and unauthorized changes to your financial records. Year end is a good time to do some housekeeping. Confirm that employees and outside service providers have only the access they currently need. Pay special attention after employees change roles or leave your business, or when you switch vendors. We can help evaluate your accounting system’s security settings and strengthen internal controls. Call us at 713-444-1494 to get started.

10/06/2026

For many people, the possibility of incurring significant long-term care (LTC) expenses is one of the biggest threats to achieving their estate planning goals. These expenses (such as for nursing home stays and home health aides) can quickly deplete funds you wanted ultimately to go to your family. One possible solution is to purchase an LTC insurance policy. This insurance generally provides benefits when you can no longer perform several basic activities of daily living (such as bathing, dressing and eating) or if you become cognitively impaired. Once that occurs and you start receiving benefits, your premiums cease. Contact us at 713-444-1494 to discuss whether LTC insurance may be appropriate for you.

10/05/2026

Effective year-end planning involves making informed choices that support your long-term goals. This requires you to think beyond reducing taxes for the current year. Whether you’re reviewing operations, considering future investments or evaluating tax-saving opportunities, a proactive approach can help you address the challenges and opportunities ahead. Call us at 713-444-1494 for guidance on positioning your business for continued success.

10/01/2026

Are you paid to care for a family member? Don’t overlook the tax implications. Depending on the arrangement, a family caregiver may be considered a household employee, which can create employment tax and Form W-2 obligations for the person receiving care. In other situations, the caregiver may not be an employee but still must report the payments as income. Self-employment tax may also apply if the caregiver operates a trade or business providing care services. But employment tax or self-employment tax exceptions may apply when caring for a spouse, parent, child or other relative. Contact us at 713-444-1494 to discuss your family’s situation.

10/01/2026

Improving your skills doesn’t come from doing more at once; it comes from being intentional about how you practice and where you focus. Use these ideas to level up with purpose and make steady, meaningful progress.

09/30/2026

09/30/2026

Tax law changes have created new planning opportunities for 2026. A review of your expected income and expenses for the year, along with any significant life changes, may uncover strategies to reduce your taxes. Start the conversation before year-end for more time to take tax-saving steps. And if you extended your 2025 return, we can help you file before the Oct. 15 deadline. Call us at 713-444-1494 to schedule an appointment.