KPIs: What Are They, and Which Ones Count?
Key performance indicators (KPIs) are the keys to operating a successful business, especially during times of uncertainty. Continue Reading KPIs: What Are They, and Which Ones Count?
Key performance indicators (KPIs) are the keys to operating a successful business, especially during times of uncertainty. Continue Reading KPIs: What Are They, and Which Ones Count?
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2022 by 2.5 cents per mile. Continue Reading Will the Standard Business Mileage Rate Go Up in 2022? Yes!
When customers make last-minute changes to contracts, it can be frustrating, and the accounting rules for reporting change orders can be complex. Continue Reading How to Account for Change Orders
Here are a few key tax-related deadlines for businesses during Q1 of 2022. Continue Reading 2022 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers
While digitalization continues to take hold of the business world, the billing and collections functions at many organizations remain largely paper based. Continue Reading Digitizing the Accounts Receivable Process
The use of a company car is a valuable fringe benefit for business owners and key employees. This perk results in tax deductions for the employer and tax breaks for the owners and employees using the cars. Continue Reading Providing a Company Car? Here’s How Taxes Are Handled
As businesses head into 2022, they face unprecedented challenges. In response, many are using so-called “rolling” forecasts to help guide decision-making. Continue Reading Rolling Forecasts Provide Flexibility in Uncertain Times
If you’re going to receive a personal injury or discrimination settlement or award, you want the best tax result possible. Here are the basic rules of when amounts are tax free or taxable. Continue Reading How are Court Awards and Out-of-Court Settlements Taxed?
Ever wonder how much of a tax break you’d get if you bought a private plane for your business? Here are the basic rules. Continue Reading The Tax Implications of Owning a Corporate Aircraft
Local governments often provide tax breaks and other financial incentives to lure businesses to town. How much detail are businesses required to disclose about these transactions? Continue Reading Coming Soon: New Accounting Rule on Government Assistance Disclosures
Maximize the QBI deduction before it’s gone
/in Tax/by KKB CPAsThe qualified business income (QBI) deduction is scheduled to disappear after 2025. Congress could extend it, but don’t count on it. Here’s what you need to know to make the most of it while you can. Continue Reading Maximize the QBI deduction before it’s gone
Cash vs. accrual accounting: What’s the difference?
/in Tax/by KKB CPAsIs your business using the optimal method of accounting? What’s right depends on your company’s size, level of sophistication and other key factors. Continue Reading Cash vs. accrual accounting: What’s the difference?
Tax-wise ways to take cash from your corporation while avoiding dividend treatment
/in Tax/by KKB CPAsAs you may know, dividends paid out by a corporation are taxable to shareholders and can’t be deducted by the business. But there may be ways to get cash out of your closely held corporation without dividend treatment. Continue Reading Tax-wise ways to take cash from your corporation while avoiding dividend treatment