Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the year. Continue Reading The Tax Rules of Renting Out Your Vacation Property
If your business doesn’t already have a retirement plan, now might be a good time to establish one. Continue Reading Establish a Tax-Favored Retirement Plan
The credit for increasing research activities, often referred to as the research and development credit, is a valuable tax break for eligible businesses. Continue Reading The Election to Apply the Research Tax Credit Against Payroll Taxes
California recently enacted Senate Bill 113 (SB 113), which made California’s new passthrough entity elective tax much more attractive for certain owners of S corporations, partnerships, and LLCs taxed as a partnership or an S corporation. Continue Reading California Expands Pass-Through Entity Tax Benefits
If you’re married, you may wonder if you should file joint or separate tax returns. Continue Reading Married Couples Filing Separate Tax Returns: Why Would They Do It?
Do you want to withdraw cash from your closely held corporation at a minimum tax cost? Continue Reading Making Withdrawals from Your Closely Held Corporation That Aren’t Taxed as Dividends
Learn how to deduct 100% of the cost of items as bonus depreciation. Continue Reading Small businesses: There still may be time to cut your 2021 taxes
To help you make sure you don’t miss any important 2022 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Continue Reading 2022 Tax Calendar
Businesses must keep records of their income and expenses. Carefully record them in order to claim the full amount of tax deductions to which you’re entitled. Continue Reading Keeping Meticulous Records is the Key to Tax Deductions and Painless IRS Audits
While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. If you’ve recently started a new business, or you’re contemplating starting one, be aware of the tax implications. Continue Reading Entrepreneurs and Taxes: How Expenses are Claimed on Tax Returns
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Getting a handle on inventory
/in Tax/by KKB CPAsFor retailers, manufacturers and many other businesses, a significant amount of working capital is tied up in inventory. What can your company do to lower its inventory carrying costs? Continue Reading Getting a handle on inventory
Keep these 3 issues in mind after you file your return
/in Tax/by KKB CPAsFor more helpful tax and accounting articles, or to sign up for our newsletter, please visit our KKB Insights page. If you have any questions, please contact us. Continue Reading Keep these 3 issues in mind after you file your return
Update on retirement account required minimum distributions
/in Tax/by KKB CPAsThe SECURE 2.0 law includes good news about required minimum distributions from tax-favored retirement accounts. But an earlier law contained some bad news for certain beneficiaries of inherited retirement accounts. Here are the rules. Continue Reading Update on retirement account required minimum distributions