Starting and Operating a Business in Texas

by Michael D. Jenkins

Starting and Operating a Business in Texas (June, 2023 Edition) thoroughly covers federal tax and business laws as well as Texas laws and taxes and is a comprehensive tax and legal guidebook for Texas small businesses. The author, a retired tax attorney and CPA and a Harvard Law graduate, provides a detailed but easy to read explanation of the "ground rules" you need to know to navigate successfully through the complex maze of federal and Texas tax and business laws and regulations.Federal tax laws that apply to small businesses are analyzed and explained, showing how you can benefit from recent beneficial changes (and avoid the new pitfalls), in order to structure your small business and operate it so as to best reduce taxes and also comply with numerous non-tax regulations.Federal taxes and business laws are fully updated to 2023 in this edition, including 2023 federal tax rates and brackets, 2023 retirement plan limitations, and other 2023 inflation-indexed items of the tax laws.Federal tax and legal coverage includes individual and corporate income, self-employment, estate, gift, and excise taxes, payroll taxes, withholding taxes; the new Corporate Transparency Act reporting that will apply ONLY to small businesses; the Americans with Disabilities Act; environmental laws; minimum wage/overtime and child labor laws; anti-discrimination and health care reform laws that apply to employers; immigration laws affecting hiring; OSHA (job safety) compliance; ERISA (employee benefits) compliance; the Family and Medical Leave Act rules (and how to earn the family leave tax credit); mail order sales and telemarketing regulations; Internet taxation and regulation; and much more.TEXAS LAWS AND Fully updated for 2023 and other recent law changes, including current franchise tax rates and exemptions, the new franchise tax exemption for veteran-owned businesses, incorporation/LLC filing fees, and the new "remote sellers" sales tax law. Texas tax and legal coverage includes the Texas franchise tax and small business exemption, 2023 Texas sales and use, property, and unemployment taxes and other state and local business taxes; Texas fair employment laws, which may differ from federal; the Texas minimum wage, overtime, and child labor laws; optional workers' compensation insurance; new hires reporting; when/if registration of assumed business names (trade names) is required; the Texas Payday Act law; other state labor laws; and much more.OTHER IMPORTANT INFORMATION AND In addition to extensive, up-to-date coverage of federal and Texas business laws and taxes, you will also find a gold mine of other useful information and advice for running your business. An entire chapter, with diagrams, is devoted to site selection for your business; also covered is how to choose accounting methods and tax year-end; do's and don'ts when buying an existing business, acquiring a franchise, or signing a lease; pros and cons of corporations, LLCs, and other business entities, as well as Texas filing fees and taxes for each type of legal entity. Other chapters deal with subjects such as how to protect your assets from creditors; incorporation in a state other than Texas; when to classify workers as either employees or independent contractors; advice about joining a multilevel marketing program; exporting tips; cash flow management and fraud detection; and estate planning, to name some of the covered topics.

942 pages, Kindle Edition

First published November 1, 1988