French Larry Taylor – Grilling Tips and Tricks

French Larry Taylor is a veteran tax professional who lives and works in Dallas, Texas, where he is a tax partner in KPMG’s Federal Tax practice there. He is responsible for a broad range of clients, including private and public corporations.

French Larry Taylor

When he isn’t at work, he loves to pursue his interests in vintage American muscle cars, landscape design, and cooking. His favorite type of food is a Creole French and Southern fusion. But as a cook he says he makes a mean chili, and is a master barbecue chef.

There are some tips and tricks that anyone can adopt to improve their skills at the barbecue, whether using a propane gas grill or good old-fashioned charcoal briquettes. One of the main things to keep in mind is to keep it simple. Never try to cook too many things at once. The timing involved in cooking an assortment of different foods, from burgers and other meats to vegetables and other sides, is just too complicated, even for a highly skilled chef.

Flames flaring up is an inevitable part of barbecuing, but if you’re cooking over charcoal, never squirt water on the flames. Doing so will send ash flying all over the food as it cooks. When those pesky flames flare up – and you know they will – it’s much better to simply move the food to another part of the grill, in particular one with no coals underneath. Once the flames die down you can move it back.

Finally, don’t clean the grill right after using it. That may seem counter-intuitive, but leaving some fat on the grill helps to prevent rust. Wait until the next time you use it to brush off charred debris – and even then, only after the grill gets good and hot.

French Larry Taylor loves to barbecue in the back yard of his Dallas area home.

French Larry Taylor – Tax Accounting Methods

French Larry Taylor is a tax consultant who works with KPMG’s Federal Tax practice in Dallas. His responsibilities with the firm include leading the West Region of its Tax Accounting Methods practice, and its Accounting practice for the Southwest.

French Larry Taylor

The Internal Revenue Service allows taxpayers to calculate their tax bill using one of two tax accounting methods. Most businesses use what is called the accrual method. This is a method of tax accounting in which taxpayers report income in the same tax year they obtain a legal right to receive it. Take, for example, the case of an accountant who prepares a client’s tax return on April 15, 2014, but doesn’t send the client a bill until a few days later. That would be after the last day of filing for the 2013 tax year. Even though the accountant hasn’t been paid yet, he or she has a legal right to be paid when it completes the tax return. So it is legal to report that income on the 2013 taxes, even though he or she isn’t paid until after the April 15 deadline. If, however, the client never pays the accountant, the accountant can take a bad debt deduction on his or her 2014 tax return.

One of the benefits of the accrual method is that you can take a deduction on expenses you haven’t received yet. Provided that there is a legal liability to make the payment, you can make a deduction for it in the same tax year that the liability arises.

French Larry Taylor holds a Master’s degree in Taxation from the University of North Texas.

Sources:
http://smallbusiness.chron.com/tax-accounting-method-20649.html
http://www.kpmg.com/us/en/services/tax/federal-taxes/accounting-methods-credit-services/pages/default.aspx

French Larry Taylor – Tax Efficiency

French Larry Taylor is a partner in the firm of KPMG LLP in Dallas, Texas, and a specialist in Federal tax laws. He works with a broad range of clients and strives to help them to adopt accounting methods that are most advantageous to their companies, allowing them to defer revenues and accelerate deductions.

French Larry Taylor

With the assistance of consultants like French Larry Taylor, KPMG client companies receive professional help. These companies are able to achieve tax efficiency through their accounting methods. They focus on procedural and technical aspects of income and expense recognition, inventory accounting, fixed assets, and other areas that are customized to each client’s situation. The firm’s methods generally analyze opportunities that are related to deferral of income, acceleration of expenses, the reduction of inventory values, and the enhancement of the Domestic Production Activity Deduction, or DPAD.

French Larry Taylor manages large tax outsourcing compliance projects, and handles IRS and state examinations of his clients. He is especially skilled in the Section 199 deduction. This is a tax break that is allowed for those companies whose domestic manufacturing is done within the United States, and was established by the Jobs Creation Act of 2004. He makes frequent presentations to the Council for International Tax Executives and other professional organizations about Section 199 issues, and about accounting methods.

French Larry Taylor is a Texas native who received his education at Austin College, where he earned a Bachelor’s degree in Business and Public Relations, and at the University of North Texas, where he earned a Master’s degree in Taxation.

Sources:
http://www.kpmg.com/us/en/services/tax/federal-taxes/accounting-methods-credit-services/pages/tax-accounting-services.aspx
http://greenwaltcpas.com/2010/10/what-is-the-section-199-deduction/

French Larry Taylor – Always In Flux

French Larry Taylor is a tax professional consultant who works at the firm KPMG in Dallas, Texas. He is responsible for a wide range of clients, including public and private corporations, and holds a Master’s degree in Taxation from the University of North Texas.

French Larry Taylor
French Larry Taylor

Federal tax laws are the rules and policies that cover the tax process in the United States. These laws oversee taxes on estates, transactions, income, property, and more. Tax laws also cover the duties on goods imported from foreign countries, as well as those compulsory levies made by the government on individuals.

The monies collected from taxes are used to pay for things like the military, government employees, national parks, schools and hospitals, and the country’s infrastructure, among other things. The tax code is an intricate body of law that covers the payment of taxes to a minimum of four levels of government, either directly or indirectly. It seems at times like there is an endless list of entities that create and enforce tax law, from local government all the way up to the Federal level. And it seems like tax laws are always in flux. There are a couple of reasons for that. One is that the tax code is used for so many different objectives, and the other is that it is so frequently amended.

French Larry Taylor strives to help his firm’s clients adopt the most advantageous accounting methods that are allowed, so they can defer revenues and accelerate their deductions. In his free time, he enjoys cooking and pursuing his interest in vintage American muscle cars.