Latest Posts

Best practices for M&A due diligence

Are you contemplating a merger or acquisition in 2024? Comprehensive financial due diligence is the cornerstone of a successful deal.

IRAs: Build a tax-favored retirement nest egg

How much can you save in an IRA this year and when do you have to start making withdrawals? Here are the answers to these and other IRA questions.

Solid financial reporting can help attract debt and equity financing

Access to capital is a major concern for business owners today. Timely, reliable financial statements are key to opening the door to the debt and equity funds.

Auditing concepts: Close-up on materiality

What’s materiality? This is an important accounting concept to review before audit fieldwork starts for your 2023 year-end financials.

You may now have to electronically file annual information returns

Businesses that file 10 or more information returns must now file them electronically.

Defer a current tax bill with a like-kind exchange

If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is with a Section 1031 “like-kind” exchange. With this transaction, you exchange the property rather than sell it. A like-kind exchange is any exchange of real property held for investment or for productive use in your trade or business for like-kind investment, trade or business real property. Like-kind exchanges can be an attractive tax-deferred way to dispose of real property if you anticipate a large tax bill and meet the federal and state requirements.

Don’t overlook taxes when contemplating a move to another state

Are you dreaming of retiring to another state to escape cold weather or to be close to loved ones? Before calling the moving truck, examine the state and local tax implications.

Happy Holidays 2023

Cheers to the New Year! From all of us at Kirsch Kohn & Bridge CPAs and Advisors, sending wishes of warmth, joy and tranquility this holiday season.

2023 Individual Tax Planning Pointers

Whether you are considering selling investments, making charitable gifts, or looking forward to the future with some estate planning we have strategies to help optimize your tax plan.

Insights

Advantages of keeping your business separate from its real estate

It may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues. Continue Reading Advantages of keeping your business separate from its real estate

Cutoffs: When to report revenue and expenses

Does your company follow the cutoff rules? Loose interpretation of the accounting rules can lead to errors and unexpected audit adjustments. Here’s how to get it right. Continue Reading Cutoffs: When to report revenue and expenses

Help ensure your partnership or LLC complies with tax law

Guaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details. Continue Reading Help ensure your partnership or LLC complies with tax law

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