Simple texture and logo questions

Ok, now I'm running into a really weird problem again 😞 I know HOW to emboss or deboss. I've done it before. But it's not working with my logo. I got the clipping masks working to show the different textures I wanted on the RF and the black cirlce.

But now, when I go to start debossing the RF, nothing happens! Is there something I'm missing about getting the emboss/deboss to work ON TOP of the black circle? I followed along with 3 different tutorials, and they use a whole screen background texture (not just a small black circle like I'm doing), then deboss or emboss type. And I got it to work just fine. But when I do it with my logo, nothing shows up or happens! I mean, if you zoom in super close, you can see something, but it's not noticeable really at all unless you zoom in REALLY close. And it's only like one little part of the FX I added show up. My RF logo won't show the emboss/deboss FX I add on top of my black circle, but does work if I do it on an entire background?! Any idea how to fix this?

Here's a screen shot of the RF logo and black circle WITH the paper textures in them and then the layers screen next, that shows how I have all the FX on for the deboss look. But nothing is really showing up.

Thanks

You are so close! Keep the objects seperarate and use clipping masks. Black and white are easy peasy. Clip your paper texture to each object seperately and invert the paper for the black... 

Ok, so I read through all the help in here, and I'm not sure we're on the same page as far as what I want to do. And it's still not working.

So the RF obect is three parts. It's the letter R, that I typed out using the Type tool in Illustrator. Then the second parts are two rectangles. I took the shape tool, made a long rectangle for the top part of the letter F, and a smaller one for the bottom part of the F. Then I edited those two separate shapes to have that triangle shape to them, and have the angle line up. Then I merged them all together, so it's one object with no interior lines. 

Then, I took the shape tool and made a simple black circle in Illustrator as well. Then put the RF on top of the black circle, and grouped them together. 

Then I drag and drop the black circle and RF over into the PS file I'm working on. And drop them on top of the paper texture I'm working with. And what happens is, the white RF object shows the paper texture, but the black circle does not. 

So I still can't figure out how to just get the black circle and RF object to all have the same paper texture, AND be able to edit the circle or RF object to have whatever color I want, but with that paper texture still. That's what I'm having trouble with still. The emboss, deboss, all that other stuff, I can do on my own. 

I just want this logo, right here, to have the paper texture in both the black circle and the RF object. And keep the black color of the circle and the white color of the RF object (but also be able to change it to whatever color I want as well). 

But this is what is happening when I drag the circle and RF object over to the PS file of the paper texure and place it on top, then hit Multiply under the layers tab. For some reason, the paper texture is ONLY showing up for the background (which I don't want) and the RF logo. I also need the texture to be part of the black cirlce as well. Thank you 

I'm not going to dive too deep into this one as you have had a good reply, but I'll add a couple of tips.

1)  You can turn Type layers into vector shapes from the Type menu.  You can then edit that shape with the Pen, Path Selection, and Direct Selection tools.  You will already know that you can combine shapes using the Paths panel.

2) You can further combine your shape layers and Layer styles as Smart Objects.  With it being a personal logo you are likely to use a lot, make it a Smart Object and save it to a relevant CC Library.  You can then find and use that logo any time by dragging from the library to a document window.  CC Libraries are incredibly useful. You can save swatches, fonts, brushes Smart Objects to a client group, and if that client hires you a year later you have all that information readily to hand.

I would use vector shapes :

1. One for the rectangle
2. One for the letters
3. One for the circle

Then I would combine this shapes (Layer menu) :

1. Substract circle from the rectangle
2. Add letters to the result
3. Substract hole in the R.

 Then with pattern and bevel and emboss effects I could do whatever I want.

»I want to have a similar paper texture over both the black circle (but keep it black) and over the RF logo (but keep it white or whatever color I want). And have the RF be debossed INTO the black circle, all with a transparent background.«

Say what? 

Could you please post screenshots with the pertinent Panels (Toolbar, Layers, Paths, Options Bar, …) visible?