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Home sweet home: Do you qualify for office deductions?

Many people started working from home during the pandemic and have continued working out of home offices. Some of them qualify for home office deductions, but unfortunately, not all of them do. Here are the rules.

Why an LLC might be the best choice of entity for your business

A limited liability company can give you corporate-like protection from creditors while providing the benefits of taxation as a partnership. Can it work for you?

The Inflation Reduction Act includes wide-ranging tax provisions

The Inflation Reduction Act is about to become law. Learn how its tax provisions might affect you.

FTB Error – PTE Refunds Must be Returned

Due to errors by the California Franchise Tax Board (FTB) in its processing of passthrough entity tax payment vouchers, the FTB is erroneously issuing refunds of the 2022 prepayments of the passthrough entity elective tax that were paid with the FTB Form 3893 (PTE) vouchers.

Estimated tax payments: Who owes them and when is the next one due?

Self-employed taxpayers generally must make quarterly estimated tax payments. But even if you’re not self-employed, you may have to make them to avoid a penalty if you don’t have enough federal tax withheld. Here are the rules.

Bonus Depreciation: Businesses Should Act Now

If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax break.
Three tax breaks for small businesses

Three Tax Breaks for Small Businesses

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.

Important Considerations When Engaging in a Like-Kind Exchange

Interested in a “like-kind” exchange of real property? Here are the basic rules.

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

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.

Insights

Getting a handle on inventory

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For 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

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Keep these 3 issues in mind after you file your return

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For 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

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Update on retirement account required minimum distributions

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The 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

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