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Author: anshul
Best Tax Deductions & Credits Available for Texas Small Business Owners
Introduction Texas small business owners can take advantage of various tax deductions and credits to reduce their tax liability. While Texas does not have a state income tax, businesses are still subject to federal taxes and state-level franchise tax. This guide explains the top tax deductions and credits available to Texas business owners, how to […]
Texas Tax-Free Weekend: What’s Included & How to Maximize Savings
Introduction Texas Tax-Free Weekend is an annual event that allows shoppers to purchase certain items without paying state and local sales tax. This tax holiday is designed to help families, students, and businesses save money on essential back-to-school items. This guide explains which items qualify, key dates, spending limits, and strategies to maximize savings. What […]
Do You Have to Pay Capital Gains Tax in Texas? What You Should Know
Introduction Texas does not have a state income tax, which means there is no state-level capital gains tax. However, Texans are still subject to federal capital gains tax, which applies when selling assets such as real estate, stocks, and businesses at a profit. This guide explains how capital gains tax works, how to reduce your […]
Texas Property Tax Explained: How Homeowners Can Lower Their Tax Bill
Introduction Texas is a no-income-tax state, but it makes up for it with high property taxes. Texas ranks among the highest property tax states in the U.S., with an average effective property tax rate of 1.6%. This guide explains how Texas property taxes are calculated, payment deadlines, exemptions available, and how homeowners can reduce their […]
Texas Agricultural Exemption: How Farmers & Ranchers Can Save on Taxes
Introduction Texas offers agricultural tax exemptions that help farmers, ranchers, and landowners significantly reduce their property tax and sales tax burdens. These exemptions encourage agricultural production and keep land in active use. This guide explains who qualifies for Texas agricultural tax exemptions, how to apply, and common mistakes to avoid. What Is the Texas Agricultural […]
Texas Franchise Tax: Who Needs to Pay & How to File
Introduction Texas does not have a state income tax, but it does impose a franchise tax on businesses. The Texas Franchise Tax is a gross receipts tax applied to businesses earning over a certain threshold. This tax helps fund state services, infrastructure, and education. This guide explains who must pay Texas Franchise Tax, how to […]
How to File Your Texas Sales Tax Return Online (Step-by-Step Guide)
Introduction Businesses in Texas that sell taxable goods or services must collect and remit sales tax to the state. The Texas Comptroller’s Office requires businesses to file sales tax returns either monthly, quarterly, or annually, depending on revenue. Filing your Texas sales tax return online is the fastest and most efficient method to stay compliant […]
Texas vs. Florida: Which State Is Better for Tax Savings?
Introduction Texas and Florida are two of the most tax-friendly states in the U.S., making them attractive for residents, retirees, and business owners. Both states do not have a state income tax, but they differ in other tax policies, including property taxes, sales taxes, and business taxes. This guide compares Texas and Florida’s tax benefits […]
What Taxes Do You Pay in Texas? A Full Breakdown
Introduction Texas is known for being one of the most tax-friendly states in the U.S. because it does not have a state income tax. However, Texas still imposes various other taxes on businesses, homeowners, and consumers to generate revenue. This guide provides a complete breakdown of Texas taxes, including sales tax, property tax, franchise tax, […]
Best Tax Deductions for Small Business Owners in Texas
Introduction Running a small business in Texas comes with several tax advantages, including no state income tax and various deductions that reduce taxable income. Knowing which deductions you qualify for can help you lower your tax bill and maximize profits. This guide outlines the top tax deductions available to Texas small business owners, how to […]