Why Excess Benefit Transactions are Out-of-Bounds
You may know that your not-for-profit needs to avoid excess benefit transactions, but are you sure you know what they are? A full understanding can help your nonprofit avoid mistakes. Continue Reading Why Excess Benefit Transactions are Out-of-Bounds
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