Tax Archives | Page 8 of 13 | Kirsch Kohn Bridge CPAs + Advisors

SECURE 2.0 law may make you more secure in retirement

January 5, 2023/in Tax/by KKB CPAs

Want to save more for retirement? You might be able to with the many changes in a new law signed on Dec. 29, 2022. Continue Reading SECURE 2.0 law may make you more secure in retirement

SECURE 2.0: Year-end spending package tackles retirement planning and tax shelters

January 3, 2023/in Tax/by KKB CPAs

Tucked into the Consolidated Appropriations Act of 2023 is a package of enhanced retirement benefits, otherwise known as the SECURE 2.0 Act. Here are some of the provisions. Continue Reading SECURE 2.0: Year-end spending package tackles retirement planning and tax shelters

2023 Q1 tax calendar: Key deadlines for businesses and other employers

December 20, 2022/in Tax/by KKB CPAs

Businesses face a variety of tax-related deadlines in the first quarter of 2023. Here are some of them. Continue Reading 2023 Q1 tax calendar: Key deadlines for businesses and other employers

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

December 12, 2022/in Tax/by KKB CPAs

Owners of pass-through businesses may be able to save tax with the valuable QBI deduction by taking certain steps at year-end. Continue Reading Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

Choosing a business entity? Here are the pros and cons of a C corporation

December 5, 2022/in Tax/by KKB CPAs

If you’re starting a new business, you may wonder if you should operate as a C corporation, an S corporation or another entity. Here’s a summary of what will happen if you choose a C corporation. Continue Reading Choosing a business entity? Here are the pros and cons of a C corporation

Year-end giving to charity or loved ones

November 28, 2022/in Tax/by KKB CPAs

Many people like to give thanks at this time of year by donating to their favorite charities. Here are the basic 2022 rules for charitable contributions and gifts to loved ones. Continue Reading Year-end giving to charity or loved ones

Preparing for year-end inventory counts

November 18, 2022/in Tax/by KKB CPAs

A physical inventory count gives a snapshot of how much inventory your company has on hand at year end. Are you ready to start counting? Continue Reading Preparing for year-end inventory counts

Act Now to Reduce Your Business’s 2022 Tax Bill

November 13, 2022/in Tax/by KKB CPAs

As 2022 winds down, now is the time for your business to take stock of its tax situation and implement year-end tax planning strategies. Continue Reading Act Now to Reduce Your Business’s 2022 Tax Bill

5 Steps to Take Now to Cut Your 2022 Individual Tax Liability

November 7, 2022/in Tax/by KKB CPAs

Are you interested in reducing your 2022 tax liability? There’s still time to take these year-end tax planning steps. Continue Reading 5 Steps to Take Now to Cut Your 2022 Individual Tax Liability

How Inflation Will Affect Your 2022 and 2023 Tax Bills

November 1, 2022/in Tax/by KKB CPAs

Many people are feeling the squeeze of inflation. What does this mean for your federal tax bill? Here’s what the inflation-adjusted amounts will be for several provisions in 2023, as compared with 2022. Continue Reading How Inflation Will Affect Your 2022 and 2023 Tax Bills

Are you liable for two additional taxes on your income?

September 3, 2024/in Tax/by KKB CPAs

Higher-income folks may be subject to a couple extra taxes, in addition to federal income tax. Here’s an explanation of the 3.8% net investment income tax and a 0.9% additional Medicare tax. Continue Reading Are you liable for two additional taxes on your income?

Understanding taxes on real estate gains

August 28, 2024/in Tax/by KKB CPAs

If you’re the owner of a pass-through entity, the federal income tax rules for gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Continue Reading Understanding taxes on real estate gains

Cash or accrual accounting: What’s best for tax purposes?

August 20, 2024/in Tax/by KKB CPAs

Choosing between the cash method of accounting and the accrual method for tax purposes can impact your tax situation. But not all businesses qualify for both methods. Continue Reading Cash or accrual accounting: What’s best for tax purposes?