The 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
Is 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?
As 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
Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a business that way. Continue Reading 9 tax considerations if you’re starting a business as a sole proprietor
Many companies struggle to follow the accounting rules for revenue recognition, particularly if they work on long-term projects. An external audit can help you get it right. Continue Reading Auditing revenue recognition
Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take? Here are the rules. Continue Reading What’s the best accounting method route for business tax purposes?
Are you contemplating a merger or acquisition in 2024? Comprehensive financial due diligence is the cornerstone of a successful deal. Continue Reading Best practices for M&A due diligence
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.
Continue Reading IRAs: Build a tax-favored retirement nest egg
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. Continue Reading Solid financial reporting can help attract debt and equity financing
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Advantages of keeping your business separate from its real estate
/in Tax/by KKB CPAsIt 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
/in Tax/by KKB CPAsDoes 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
/in Tax/by KKB CPAsGuaranteed 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