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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Delegating ideally gives not-for-profit executives time to focus on mission critical tasks and provides growth opportunities to staffers. However, you need to approach delegation strategically. This means assigning the right tasks to the right staffers — and following up on assigned work to ensure it’s completed to your standards.…
Many people have Series EE bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put them away in a file cabinet or safe deposit box. You may wonder: How is the interest you earn on EE bonds taxed? And if they reach final maturity, what action do you need to take to ensure there’s no loss of interest or unanticipated tax…
The Securities and Exchange Commission (“SEC”) recently issued Final Rulemaking Release No. 33-10825, “Modernization of Regulation S-K Items 101, 103, and 105,” which amends Regulation S-K disclosure Items: 101, “Description of Business, 103, “Legal Proceedings,” and 105, “Risk Factors.” These amendments, which are part of the SEC’s broader Disclosure Effectiveness Initiative, reflect changes that have occurred in the capital markets and the availability of information and aim to improve the information content of those items…
A warning if your not-for-profit organization is looking for expenses to cut: Don’t skimp on insurance. Should your not-for-profit experience a fire, major theft or other calamity, you’ll be glad you have the coverage. Of course, you may also be required by your state, certain funders, lenders and your own bylaws to carry adequate insurance. Donors certainly expect you to protect their investment in your not-for-profit by managing risk with insurance. But to ensure you’re…
Is your business closing? Unfortunately, the COVID-19 pandemic has forced many to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met. Of course, a business must file a final income tax return and some other related forms for the year it closes. The type of return to be filed depends on the type of business…
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. KCA Client Exclusive: Not-for-Profit Webinar National Association for Corporate Directors Holocaust Museum Houston Texas A&M If you have questions about any event details or registration information, the organization-specific…
It’s important to schedule internal audits. Fraud doesn’t simply take a vacation during crises, such as the COVID-19 pandemic. If your not-for-profit’s internal controls aren’t effective, crooked individuals can find ways to exploit them and steal from your organization — even if they’re working remotely. Other threats, such as financial shortfalls, might also loom. Comprehensive independent audits help assure stakeholders that your not-for-profit is ready for anything that might come its way — including…
When a couple gets divorced, taxes are probably not foremost in their minds. But without proper planning and advice, some people find divorce to be an even more taxing experience. Several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are four issues to understand if you’re getting divorced.…
“Accountability” may seem like one of those popular management concepts you know would be nice to implement if your not-for-profit had the time and budget. But not only is accountability essential to your not-for-profit’s health and efficacy — affecting everything from donations to grants, hiring to volunteering, board fiduciary duty to employee morale — it’s also easy to adopt.…
If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise Sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund allows you to write checks against your fund investment. Every time you write a check against your mutual fund account, you’ve made a partial sale of your interest…