July 2022 | Kirsch Kohn Bridge CPAs + Advisors

Bonus Depreciation: Businesses Should Act Now

July 28, 2022/in Tax/by KKB CPAs

If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax break. Continue Reading Bonus Depreciation: Businesses Should Act Now

Three Tax Breaks for Small Businesses

July 27, 2022/in Tax/by KKB CPAs

You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesses can save on taxes. Continue Reading Three Tax Breaks for Small Businesses

Important Considerations When Engaging in a Like-Kind Exchange

July 19, 2022/in Tax/by KKB CPAs

Interested in a “like-kind” exchange of real property? Here are the basic rules. Continue Reading Important Considerations When Engaging in a Like-Kind Exchange

Interested in an Electric Vehicle? How to Qualify for a Powerful Tax Credit

July 14, 2022/in Tax/by KKB CPAs

Many people are thinking about buying electric vehicles because of their advanced technology, high gas prices and the fact there are more models available today. Along with factors like acceleration and the battery range, check out the federal tax break that may be available. Continue Reading Interested in an Electric Vehicle? How to Qualify for a Powerful Tax Credit

How Do Taxes Factor into an M&A Transaction?

July 5, 2022/in Tax/by KKB CPAs

Buying or selling a business may be the most critical transaction you ever make. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Here are some considerations. Continue Reading How Do Taxes Factor into an M&A Transaction?

IRS suspends processing of ERTC claims

September 21, 2023/in Tax/by KKB CPAs

With fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through year end. Continue Reading IRS suspends processing of ERTC claims

It’s important to understand how taxes factor into M&A transactions

September 19, 2023/in Tax/by KKB CPAs

Buying or selling a business? It may be the most important transaction you ever make. So it’s important to seek professional tax advice as you negotiate. Don’t wait until a deal is done! Continue Reading It’s important to understand how taxes factor into M&A transactions

Plan now for year-end gifts with the gift tax annual exclusion

September 7, 2023/in Tax/by KKB CPAs

The estate and gift tax exemption amount is scheduled to be cut drastically in 2026 when the related Tax Cuts and Jobs Act provisions expire (unless Congress acts to extend them). Making tax-free gifts before then can cut the size of your taxable estate and may be one way to address this potential threat. Continue Reading Plan now for year-end gifts with the gift tax annual exclusion