As another year ends with interest rates and markets in flux, one thing remains certain: Reducing your company’s tax bill can improve your cash flow and your bottom line. Below are a few timely strategies that you can execute before year end to minimize your company’s tax liability. Continue Reading Year-End Business Newsletter
Happy Holidays from all of us at KKB! Continue Reading Happy Thanksgiving
Choosing the best entity for your business is a multi-faceted decision. Here’s a look at the some of the considerations. Continue Reading Choosing a business entity: Which way to go?
If your child is fortunate enough to get a scholarship, is the amount taxable income? For some, yes, but there’s good news for most families. Continue Reading Are scholarships tax-free or taxable?
If your nonprofit is having trouble complying with IRS tax-exempt regulations, don’t wait until your status is revoked or your organization is subject to investigation. Here’s how to be proactive. Continue Reading Don’t let IRS compliance issues drag down your nonprofit
The California Franchise Tax Board also announced on the evening of October 16, 2023, that it is conforming to the most recent IRS postponement of tax filing and payment deadlines to November 16, 2023, for California taxpayers in the 55 counties impacted by storms in late 2022 and early 2023. Continue Reading Income tax filing deadline postponed to November 16 for most California taxpayers
Complex calculations are involved in claiming depreciation deductions for the business use of a passenger automobile. Here are the basic rules. Continue Reading Business automobiles: How the tax depreciation rules work
If you rent your vacation home for less than 15 days during a year, there’s a special tax break. Here are the rules for vacation rentals. Continue Reading The tax implications of renting out a vacation home
It’s time to prepare for next year’s audit. Are you ready for fieldwork to begin? Continue Reading 4 ways to prepare for next year’s audit
Updated rules have been approved that will require more detailed disclosures on income taxes to help stakeholders better understand your company’s tax position. Here’s what you should know. Continue Reading FASB approves updated rules for disclosing income taxes
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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
The tax deadline is almost here: File for an extension if you’re not ready
/in Tax/by KKB CPAsThe April 15 tax deadline is approaching, but what if you’re not ready to file? There are some simple steps you can take to avoid steep penalties. Continue Reading The tax deadline is almost here: File for an extension if you’re not ready
Coordinating Sec. 179 tax deductions with bonus depreciation
/in Tax/by KKB CPAsThere’s more than one way for businesses to claim depreciation tax deductions. By combining them, you can get optimal tax-saving results. Continue Reading Coordinating Sec. 179 tax deductions with bonus depreciation