Pannell Kerr Forster of Texas PC

Pannell Kerr Forster of Texas, P.C. (PKF Texas) is a Houston-based firm of CPAs and professional advisors focused on delivering solutions to clients at every stage of business.

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Not-for-profit organizations are different from for-profit businesses in many vital ways. One of the most crucial differences is that under Section 501(c)(3), Sec. 501(c)(7) and other provisions, not-for-profits are tax-exempt. But your tax-exempt status is fragile. If you don’t follow the rules laid out in IRS Publication 557, Tax-Exempt Status for Your Organization, the IRS could revoke it. Be particularly alert to the following common stumbling blocks.…
When you file your tax return, you must check one of the following filing statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Who qualifies to file a return as a head of household, which is more favorable than single? To qualify, you must maintain a household, which for more than half the year, is the principal home of a “qualifying child” or other relative of yours whom you can…
Jen: This is The PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski and I’m here today with Carlos Gomez, an Audit Manager and one of the faces of our PKF Texas Contract Compliance Services team. Carlos, welcome back to the playbook. Carlos: Hi, Jen. Jen: So, previously we’ve talked about licensing agreements. Can you walk me and our viewers through the key sections of licensing agreements?…
High-net-worth individuals donated $5.8 billion during the first six months of the COVID-19 pandemic — generous giving by most standards. This is according to a recent report, “Philanthropy and COVID-19 in the first half of 2020,” from the Center for Disaster Philanthropy and information service Candid. However, that $5.8 billion amount is deceptive, because nearly three-quarters of it came from one donor, Mackenzie Scott (the ex-wife of Amazon’s Jeff Bezos). In fact, a 2020 study from the…
As trusted business advisors, we enjoy working with you to co-create ideas and co-develop innovative solutions for your business. Even amidst the COVID-19 pandemic, we still want to continue providing valuable information, including upcoming Houston events that we support, and think may be of interest to you. Rice Alliance for Technology and Entrepreneurship Greater Houston Partnership National Association of Corporate Directors Turnaround Management Association Greater Houston Women’s Chamber of Commerce If you have questions about…
Jen: This is The PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski, and I’m back again with Nicole Riley, an Audit Director and one of the faces of the PKF Texas not-for-profit team. Nicole, welcome back to the playbook. Nicole: Thanks. Thanks for having me. Jen: There’s different departments in a not-for-profit organization. Two of the main ones are finance and development. Why is it important for those two to be collaborative?…