National Insurance Awareness Day Is June 28th

Happy National Insurance Awareness Day!  June 28th has been set aside as a day to encourage us to review or purchase an insurance policy.  Insurance coverage is something we rarely think about until we face a situation where "we would have been protected, if only we...

Is Buying Life Insurance My Priority?

Buying life insurance is a priority if you want an assurance that your family will be financially stable after your passing.  Benefits received from a life insurance policy can play a vital part in your family's well-being.  We all find shopping for the right...

No Homeowners Coverage For Home Rented On Airbnb

If you have been planning a vacation with hotel stay I am sure you have seen properties offered on Airbnb.  Have you wondered what Airbnb is?  Well, Airbnb is an online hospitality service for people who rent out their homes to those looking for accommodations in...

Budget-Friendly Summer Vacation

Here in Texas we know summer has arrived when you walk outside and it is 100 degrees in the shade.  Summer vacations are also when we enjoy spending time together with our families.  With kids and a mortgage it may seem impossible fitting travel into your budget.  But...

Staying Safe Memorial Day Weekend

Memorial Day is not only about having fun with family and friends spending the day at the pool or grilling.  It is important to remember why we celebrate Memorial Day.  We must honor and remember the sacrifices made by many so that we can enjoy the freedoms we have...

Learn About Homeowners’ Associations

There are so many things to consider when purchasing a home that many forget about homeowners' associations.  A homeowners' association will ask you to pay either a monthly or annual fee used for upkeep of common areas.  An HOA sets rules that all residents must...

Keep Your Home Safe While On Summer Vacation

Summer is the time of year we all look forward to as we take the time out to vacation and visit family.  Unfortunately, summer months also mean empty homes which burglars can take advantage of.  Besides packing and finalizing your itinerary, you should also think...

Insurance 101 For New Graduates

As new graduates, a new chapter starts in your life in which you will soon realize things do not always work out for the best.  Living out on your own even while away at school comes with a lot of responsibilities.  Insurance can help protect yourself against...

Purchasing Flood Insurance For Your Home

Hurricane season officially begins on June 1st 2018 and lasts through November 1st 2018.  If you have been thinking about purchasing flood insurance the time to do so is now.  Hurricane Harvey caused such a devastation last year and so many around our communities are...

Did You Miss This Year’s Tax Deadline?

Deadline to file your tax return has come and gone, but did you miss the tax deadline?  Because of missing forms or other situations not everyone was able to file their taxes on time.  Whether you owe taxes or are due a refund file quickly, the longer you...

The Tax Cuts and Jobs Act (TCJA)

Congress passed the Tax Cuts and Jobs Act (TCJA) on December 20, 2017.  The goal of TCJA was to cut taxes for individuals and businesses, create jobs and stimulate the economy.  The Internal Revenue Service recently updated the tax year 2018 annual inflation...

Qualifying For Earned Income Tax Credit

What is the Earned Income Tax Credit (EIC)?  EIC is a refundable credit for workers earning low or moderate incomes to supplement the income earned through working.  If you qualify for EIC it gives you the opportunity to reduce your taxes and increase your tax refund....

Guide To Filling Out Form W-4

Tax forms can be difficult to fill out even when they come with their own set of instructions.  Form W-4 is no exception.  All employees must complete the two-page form so that employers know how much federal income tax to withhold from your paycheck.  What is...

Know Which Tax Filing Status Is Right For You

Your tax filing status will determine your tax liability and if you are to receive a tax refund.  It will tell you what tax forms you are to file when completing your tax return this year.  Your filing status will determine your tax bracket, number of deductions,...

Dealing With Delinquent Tax Returns

For one reason or another a few of us may have skipped filing our federal income tax returns.  But what happens if you do not file your taxes?  If you are delinquent, take control of the situation by coming up with a plan and protecting your rights.  The goal with...

Taxpayers Receive Refund From Tax Credits

Every tax year, taxpayers have different goals in mind for their return.  Some may want to lower amount of taxes owed, seek the largest refund possible or avoid paying more in taxes.  Tax credits can help taxpayers meet all those goals when filing their tax return. By...

When To Hire A Tax Professional

Tax season started back on January 23rd to file 2017 tax returns.  So should you take care of filing taxes yourself or do you hire a tax professional?  Our financial and personal situations in life change every year.  With a simple W-2, no kids, and single you can...

Increase In Take-Home Pay For Employees

The U.S. Treasury and IRS put out new guidance and withholding tables for employers that incorporate changes from new tax law.  Under those new tables, Treasury estimates over 90% of employees who get a paycheck are likely to see an increase in take-home pay as soon...

Get Organized For Tax Season

Most of us have already received our W-2s and are preparing to file between now and April 17th.  It is important to get organized for tax season to avoid scrambling for documents the night before tax deadline.  With tax time here it is now time to empty out that junk...

Protect Data From Thieves During Tax Season

Data breaches have reached record levels recently, these are situations that pose a threat to individuals daily.  Taxpayers can follow a few steps to protect data such as personal and financial information online and at home.  Criminals have the ability to steal large...

Tips For Choosing A Tax Preparer

Tax season is here and it is time for you to get your documents together and visit your tax preparer.  You normally visit the same tax preparer as you need someone you can trust.  At Premium Insurance and Income Tax, we assist our clients in making tax time a smooth...

The IRS Begins Accepting Tax Returns January 29th

In late December, the President changed the United States tax code for the first time in 30 years by signing the Republican tax bill into law.  Changes include new tax brackets and modified tax deductions that went into effect January 1st.  Your tax return for the...

Winterize Your Car

Winter can mean very different things depending on which region of the United States you live in.  Texas has gotten winter storms with temperatures in the low 20s.  It is recommended that you winterize your car before the winter season but any time is a good time. ...

Hurricane Harvey Victims Tax Relief

The Internal Revenue System has announced tax relief for victims of Hurricane Harvey in Texas.  The storm hit Texas on August 25, 2017 with many still recovering from damages left from hurricane.  For those affected by the storm needing to file or make payments for...

How Soon Can I File My Tax Return?

Every year, taxpayers have questions about filing their tax return.  The Internal Revenue Service has announced tax season will open on Monday, January 29, 2018.  Tax professionals will accept tax returns before opening day but will not be transmitted until the IRS...

Post-Holiday Organizing Tips

Now that the holidays are over and family has left your home it is time for clean-up.  You have managed to go around the house, clean up and get things back in order.  The last thing you need to do now is gather all holiday decorations and trash what you do not need. ...

Staying Safe When Ringing in 2018

New Year's Eve surrounded by family and friends is a wonderful way to celebrate the start of a new year.  Everyone wants to have a memorable night but that is when things can go wrong.  Many involve alcohol and fireworks into their New Year's Eve celebrations.  Do not...

Tips to Remember When Driving on Icy Roads

Have you checked the weather lately?  Texas can have all four seasons in one week.  For the next few days, Texas more than likely will experience snow up North and rainy, cold temperatures in areas such as Houston.  But when the temperatures drop and forecast calls...

Idling Your Car During Winter Months

We all have heard idling your car is necessary so it warms up before driving it during winter months.  For that reason many of us living in cold and snowy places turn our vehicles before we have to drive.  But experts believe we have fallen victim to a myth that...

December Is Toy Safety Month

December is known as Safe Toys and Gifts Month.  Toy safety is important when making gift choices because knowing what to look for can prevent possible injuries.  Sometimes when we shop for our little ones we forget to look at safety standards and age...

Holiday Season Electrical Safety Tips

It's a wonderful time of year with Christmas right around the corner.  The holidays are a time well spent with family and friends around the Christmas tree or a warm fireplace.  Many of us will bring out our decorations from storage and ready to hang them up in...

Business Security During Holiday Season

The holiday season has arrived and most non-retail employers close up shop.  Many of us will then enjoy our time with family and friends.  But unfortunately with all of its cheer, holidays also bring hazards and risks.  There are increases in fire resulting from space...

Small Business Cyber Insurance

Recently we have seen data breaches and cyber-attacks happen to many of the largest companies in the country.  Small businesses and their employees are also vulnerable to data breaches.  Even though the threats are the same as what larger companies face small business...

Defining Umbrella Insurance Coverage

Umbrella insurance is a form of liability insurance that supplements your basic liability policies that protect you from major claims and lawsuits. Umbrella policies provide a broader form of coverage when claims are filed on bodily injury and property damage.  There...

Certificate of Liability Insurance

Commercial insurance protects your business from claims of bodily injury, medical costs and property damage.  General Liability coverage protects your business in the event of an accident or injury occurring on your property leading to a suit filed against you. A...

Business General Liability Coverage

General Liability coverage will protect your business from claims brought against your business for property damage, bodily injury and/or product and advertising injury.  For example, if a customer slips on your property injuries suffered could result in medical...

Commercial Property Insurance Protects Your Business

Business commercial property insurance protects your business of financial losses resulting from a natural disaster or fire.  Whether you own or lease a building or you work from home commercial property insurance covers your business' assets.  Property insurance is...

Why Should I Purchase Commercial Auto Insurance?

If you use your vehicles to transport or conduct work-related errands for your business consider purchasing commercial auto insurance.  Your personal auto policy excludes certain business usage and vehicle types. Commercial auto policies offer physical damage and...

Commercial Insurance For My Business Size

Many of us start a business right from home and rely on our homeowner's insurance policies to provide coverage for our business.  While your policy covers your home, business related files, equipment and operations are not covered.  Using your home to operate a...

Business Flood Insurance, Do I Need It?

The State of Texas has seen its share of devastation when it comes to hurricanes and damage left behind.  Unfortunately living near the coastline, hurricanes are natural disasters that could mean trouble for many of our businesses.  We have commercial property...

Insurance Claims Payment Process Post Hurricane Harvey

It has been a month since Hurricane Harvey flooded the streets of Houston and surrounding areas devastating so many communities.  At this point you have already taken the first steps to filing a claim and beginning the recovery process.  You made temporary repairs to...

Avoid Purchasing Flood Damaged Vehicles

We have seen thousands and thousands of flood damaged vehicles caused by Hurricane Harvey on the news.  Many of the vehicles flooded in Houston and the surrounding areas will end up in junkyards.  Other flooded vehicles could end up on the used car market in states...

Flood Cleanup After Hurricane Harvey

Many in the city are getting back to some form of normalcy but for others the hard work just begins.  If your home was submerged in water it is now time to start flood clean up to prevent mold growth.  Get friends, neighbors and family members to help you begin this...