Freese, Peralez & Associates, LLC

Freese, Peralez & Associates, LLC

Certified Public Accounting firm based out of The Woodlands, Texas and serving the Greater Houston area. Our mission is to provide clients with the best possible perspective to understand the challenges they face and the opportunities available to them.

With a particular focus on taxation, FPA provides sophisticated tax planning and strategies to clients of all types and sizes.

Operating as usual

You can only claim a casualty loss tax deduction in certain situations - Freese, Peralez and Associates, LLC 09/28/2021

You can only claim a casualty loss tax deduction in certain situations - Freese, Peralez and Associates, LLC

You can only claim a casualty loss tax deduction in certain situations: In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could claim a deduction on their tax returns. But there are […]
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You can only claim a casualty loss tax deduction in certain situations - Freese, Peralez and Associates, LLC In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could...

Planning for year-end gifts with the gift tax annual exclusion - Freese, Peralez and Associates, LLC 09/27/2021

Planning for year-end gifts with the gift tax annual exclusion - Freese, Peralez and Associates, LLC

Planning for year-end gifts with the gift tax annual exclusion: As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any estate or […]
The post Planning for year-end gifts with the gift tax annual exclusion appeared first on Freese, Peralez and Associates, LLC.
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Planning for year-end gifts with the gift tax annual exclusion - Freese, Peralez and Associates, LLC As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any esta...

Selling a home: Will you owe tax on the profit? - Freese, Peralez and Associates, LLC 09/26/2021

Selling a home: Will you owe tax on the profit? - Freese, Peralez and Associates, LLC

Selling a home: Will you owe tax on the profit?: Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over July of 2020. The median home price was $411,200 in the Northeast, $275,300 in the Midwest, $305,200 in the South and $508,300 in […]
The post Selling a home: Will you owe tax on the profit? appeared first on Freese, Peralez and Associates, LLC.
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Selling a home: Will you owe tax on the profit? - Freese, Peralez and Associates, LLC Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over July of 2020. The median home price was $411,200 in the Northeast, $275,300 in the Midwest, $305,200 in....

Claiming a theft loss deduction if your business is the victim of embezzlement - Freese, Peralez and Associates, LLC 09/25/2021

Claiming a theft loss deduction if your business is the victim of embezzlement - Freese, Peralez and Associates, LLC

Claiming a theft loss deduction if your business is the victim of embezzlement: A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you'll have to substantiate the loss. A recent U.S. Tax Court decision illustrates how that's sometimes difficult to do. Basic rules for theft losses The tax code […]
The post Claiming a theft loss deduction if your business is the victim of embezzlement appeared first on Freese, Peralez and Associates, LLC.
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Claiming a theft loss deduction if your business is the victim of embezzlement - Freese, Peralez and Associates, LLC A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have to substantiate the loss. A recent U.S. Tax Court decision illustrates how that’s sometimes difficult to do. Basic rules for theft losses T...

Tax breaks to consider during National Small Business Week - Freese, Peralez and Associates, LLC 09/24/2021

Tax breaks to consider during National Small Business Week - Freese, Peralez and Associates, LLC

Tax breaks to consider during National Small Business Week: Claim bonus depreciation or a Section 179 deduction for asset additions Under current law, 100% first-year bonus depreciation is available for qualified new and used property that's acquired and placed in service in calendar year 2021. That means your business might be able to write off the entire cost of some or all asset additions […]
The post Tax breaks to consider during National Small Business Week appeared first on Freese, Peralez and Associates, LLC.
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Tax breaks to consider during National Small Business Week - Freese, Peralez and Associates, LLC Claim bonus depreciation or a Section 179 deduction for asset additions Under current law, 100% first-year bonus depreciation is available for qualified new and used property that’s acquired and placed in service in calendar year 2021. That means your business might be able to write off the entire...

Timeline Photos 09/23/2021

Timeline Photos

Tax depreciation rules for business automobiles - Freese, Peralez and Associates, LLC 09/23/2021

Tax depreciation rules for business automobiles - Freese, Peralez and Associates, LLC

Tax depreciation rules for business automobiles: If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger autos (which include many pickups and SUVs) can result in it taking longer than expected to fully depreciate a vehicle. Cents-per-mile vs. […]
The post Tax depreciation rules for business automobiles appeared first on Freese, Peralez and Associates, LLC.
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Tax depreciation rules for business automobiles - Freese, Peralez and Associates, LLC If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger autos (which include many pickups and SUVs) can result in it taking longer than expecte...

Timeline Photos 09/22/2021

Timeline Photos

Timeline Photos 09/22/2021

Timeline Photos

Scholarships are usually tax free but they may result in taxable income - Freese, Peralez and Associates, LLC 09/07/2021

Scholarships are usually tax free but they may result in taxable income - Freese, Peralez and Associates, LLC

Scholarships are usually tax free but they may result in taxable income: If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and fellowships) are generally tax free for students at elementary, middle and high schools, as well as those attending college, graduate school or accredited vocational schools. It doesn't matter if the scholarship makes a direct […]
The post Scholarships are usually tax free but they may result in taxable income appeared first on Freese, Peralez and Associates, LLC.
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Scholarships are usually tax free but they may result in taxable income - Freese, Peralez and Associates, LLC If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and fellowships) are generally tax free for students at elementary, middle and high schools, as well as those attending college, graduate school or accredited vocation...

ABLE accounts may help disabled or blind family members - Freese, Peralez and Associates, LLC 09/06/2021

ABLE accounts may help disabled or blind family members - Freese, Peralez and Associates, LLC

ABLE accounts may help disabled or blind family members: There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which they're entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for disability-related […]
The post ABLE accounts may help disabled or blind family members appeared first on Freese, Peralez and Associates, LLC.
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ABLE accounts may help disabled or blind family members - Freese, Peralez and Associates, LLC There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account...

Does your employer provide life insurance? Here are the tax consequences - Freese, Peralez and Associates, LLC 09/05/2021

Does your employer provide life insurance? Here are the tax consequences - Freese, Peralez and Associates, LLC

Does your employer provide life insurance? Here are the tax consequences: Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the coverage is higher than $50,000, there may be undesirable income tax implications. Tax on income you don't receive The first $50,000 of group term life insurance coverage that your employer provides is excluded […]
The post Does your employer provide life insurance? Here are the tax consequences appeared first on Freese, Peralez and Associates, LLC.
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Does your employer provide life insurance? Here are the tax consequences - Freese, Peralez and Associates, LLC Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the coverage is higher than $50,000, there may be undesirable income tax implications. Tax on income you don’t receive The first $50,000 of group term life insur...

Large cash transactions with your business must be reported to the IRS - Freese, Peralez and Associates, LLC 09/04/2021

Large cash transactions with your business must be reported to the IRS - Freese, Peralez and Associates, LLC

Large cash transactions with your business must be reported to the IRS: If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements? Each person who, in the course of operating a trade or business, receives more than $10,000 in cash in one transaction (or two or more related transactions), must file […]
The post Large cash transactions with your business must be reported to the IRS appeared first on Freese, Peralez and Associates, LLC.
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Large cash transactions with your business must be reported to the IRS - Freese, Peralez and Associates, LLC If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements? Each person who, in the course of operating a trade or business, receives more than $10,000 in cash in one transaction (or two or more related....

Possible tax consequences of guaranteeing a loan to your corporation - Freese, Peralez and Associates, LLC 09/03/2021

Possible tax consequences of guaranteeing a loan to your corporation - Freese, Peralez and Associates, LLC

Possible tax consequences of guaranteeing a loan to your corporation: What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences. If your corporation defaults on the loan and you're required to pay principal or […]
The post Possible tax consequences of guaranteeing a loan to your corporation appeared first on Freese, Peralez and Associates, LLC.
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Possible tax consequences of guaranteeing a loan to your corporation - Freese, Peralez and Associates, LLC What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences. If your corporation defaults on the loan and you’re required...

Timeline Photos 09/02/2021

Timeline Photos

Getting a divorce? Be aware of tax implications if you own a business - Freese, Peralez and Associates, LLC 09/02/2021

Getting a divorce? Be aware of tax implications if you own a business - Freese, Peralez and Associates, LLC

Getting a divorce? Be aware of tax implications if you own a business: If you're a business owner and you're getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest personal assets and in many cases, your marital property will include all or part of it. Tax-free property transfers You can generally divide most assets, including cash and business ownership interests, […]
The post Getting a divorce? Be aware of tax implications if you own a business appeared first on Freese, Peralez and Associates, LLC.
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Getting a divorce? Be aware of tax implications if you own a business - Freese, Peralez and Associates, LLC If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest personal assets and in many cases, your marital property will include all or part of it. Tax-free property transfers You can generally divide most a...

Timeline Photos 09/01/2021

Timeline Photos

Timeline Photos 09/01/2021

We are excited to announce one of our newest members of the team, Marina Gamova!

Marina joined Freese, Peralez and Associates, LLC on August 23rd, 2021, as a Tax Senior. Marina is originally from Russia and has 2.5 years of experience as a CPA. Marina was a Tax Associate with Baker Tilly US before joining FPA. We are excited to have her experience and talent working to help grow our business and enhance service to our clients. In her free time, Marina enjoys reading, doing yoga, and spending time with her four dogs.

WELCOME MARINA 😊

We are excited to announce one of our newest members of the team, Marina Gamova!

Marina joined Freese, Peralez and Associates, LLC on August 23rd, 2021, as a Tax Senior. Marina is originally from Russia and has 2.5 years of experience as a CPA. Marina was a Tax Associate with Baker Tilly US before joining FPA. We are excited to have her experience and talent working to help grow our business and enhance service to our clients. In her free time, Marina enjoys reading, doing yoga, and spending time with her four dogs.

WELCOME MARINA 😊

Want to find out what IRS auditors know about your business industry? - Freese, Peralez and Associates, LLC 09/01/2021

Want to find out what IRS auditors know about your business industry? - Freese, Peralez and Associates, LLC

Want to find out what IRS auditors know about your business industry?: In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer's return. Examiners may use IRS “Audit Techniques Guides (ATGs).” A little-known secret is that these guides are available to the public on the IRS website. In other words, your business can use […]
The post Want to find out what IRS auditors know about your business industry? appeared first on Freese, Peralez and Associates, LLC.
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Want to find out what IRS auditors know about your business industry? - Freese, Peralez and Associates, LLC In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return. Examiners may use IRS “Audit Techniques Guides (ATGs).” A little-known secret is that these guides are available to the public on the IRS website. ...

08/31/2021

Home - Freese, Peralez and Associates, LLC

WHAT OUR CLIENTS ARE SAYING:
As a Doctor and owner of my clinic I am usually pulled between treating patients and running a business. In 2016, I found myself in a mess with personal and corporate taxes. I was introduced to Freese, Peralez and Associates through my accountant to help me sort out any problems with the IRS and my tax situation. Since adding Freese, Peralez and Associates to my team I am, for the first time since starting my business, comfortable with my tax situation and confident in the growth of my business. Having their expertise has not only helped me out of a difficult situation but has also allowed us to have a clear path to success.



Dr. Marcin N. Vaclaw

Owner, Foot and Ankle Specialists of The Woodlands

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Home - Freese, Peralez and Associates, LLC Freese, Peralez and Associates, LLCTax Strategies for your business, your family and your life… Read More Freese, Peralez and Associates, LLCTax Strategies for your business, your family and your life… Read More Freese, Peralez and Associates, LLCTax Strategies for your business, your family and...

Timeline Photos 08/31/2021

Timeline Photos

You may have loads of student debt, but it may be hard to deduct the interest - Freese, Peralez and Associates, LLC 08/14/2021

You may have loads of student debt, but it may be hard to deduct the interest - Freese, Peralez and Associates, LLC

You may have loads of student debt, but it may be hard to deduct the interest: More than 43 million student borrowers are in debt with an average of $39,351 each, according to the research group EducationData.org. If you have student loan debt, you may wonder if you can deduct the interest you pay. The answer is yes, subject to certain limits. However, the deduction is phased out if your adjusted […]
The post You may have loads of student debt, but it may be hard to deduct the interest appeared first on Freese, Peralez and Associates, LLC.
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You may have loads of student debt, but it may be hard to deduct the interest - Freese, Peralez and Associates, LLC More than 43 million student borrowers are in debt with an average of $39,351 each, according to the research group EducationData.org. If you have student loan debt, you may wonder if you can deduct the interest you pay. The answer is yes, subject to certain limits. However, the deduction is phased....

Telephone

Address


1095 Evergreen Circle, Suite #200
The Woodlands, TX
77380

Opening Hours

Monday 9:30am - 6pm
Tuesday 9:30am - 6pm
Wednesday 9:30am - 6pm
Thursday 9:30am - 6pm
Friday 9:30am - 6pm
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