Tax Archives | Page 3 of 4 | Kirsch Kohn Bridge CPAs + Advisors

Handle Your Nonprofit’s Restricted Gifts with Care

January 12, 2022/0 Comments/in Tax /by Stacie Malgieri

Restricted gifts generally require a higher level of care from not-for-profits that receive them. Continue Reading Handle Your Nonprofit’s Restricted Gifts with Care

Businesses with Employees Who Receive Tips May Be Eligible for a Tax Credit

January 10, 2022/0 Comments/in Tax /by LG-Admin

Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a valuable tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Continue Reading Businesses with Employees Who Receive Tips May Be Eligible for a Tax Credit

Defer Tax with a Like-Kind Exchange

January 3, 2022/0 Comments/in Tax /by LG-Admin

Do you want to sell commercial or investment real estate that has appreciated significantly? Continue Reading Defer Tax with a Like-Kind Exchange

Will the Standard Business Mileage Rate Go Up in 2022? Yes!

December 27, 2021/0 Comments/in Tax /by LG-Admin

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!

2022 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

December 20, 2021/0 Comments/in Tax /by LG-Admin

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

Providing a Company Car? Here’s How Taxes Are Handled

December 13, 2021/0 Comments/in Tax /by LG-Admin

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

How are Court Awards and Out-of-Court Settlements Taxed?

December 7, 2021/0 Comments/in Tax /by LG-Admin

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?

The Tax Implications of Owning a Corporate Aircraft

December 6, 2021/0 Comments/in Tax /by LG-Admin

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

U.S. House Passes the Build Back Better Act

November 22, 2021/0 Comments/in Tax /by LG-Admin

The U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213 on November 19. Continue Reading U.S. House Passes the Build Back Better Act

Businesses Can Show Appreciation — and Gain Tax Breaks — With Holiday Gifts and Parties

November 15, 2021/0 Comments/in Tax /by LG-Admin

The holiday season is just around the corner. Your business may want to show its gratitude to employees and customers by giving gifts or hosting parties after a year of forgoing them due to the pandemic. Continue Reading Businesses Can Show Appreciation — and Gain Tax Breaks — With Holiday Gifts and Parties

CalSavers Deadline is Approaching for California Employers

May 26, 2022/0 Comments/in Tax /by Stacie Malgieri

The CalSavers retirement savings program was first signed into law in 2016 for private sector workers whose employers do not already offer a retirement plan. Employers who already offer a retirement plan are exempt from this requirement. Continue Reading CalSavers Deadline is Approaching for California Employers

Proposed Regs for Inherited IRAs Bring Unwelcome Surprises

May 20, 2022/0 Comments/in Tax /by Stacie Malgieri

The SECURE Act nixed the “stretch IRA” and replaced it with a new 10-year rule on inherited IRAs. However, subsequent IRS guidance has created confusion about when certain beneficiaries must begin taking distributions. Continue Reading Proposed Regs for Inherited IRAs Bring Unwelcome Surprises

Businesses May Receive Notices About Information Returns That Don’t Match IRS Records

May 16, 2022/0 Comments/in Tax /by LG-Admin

If your business has independent contractors or makes other payments to customers or others, you probably file 1099 forms with the IRS. The tax agency is currently sending out notices about these forms to some taxpayers. Continue Reading Businesses May Receive Notices About Information Returns That Don’t Match IRS Records

Proposed Regs for Inherited IRAs Bring Unwelcome Surprises

May 20, 2022/0 Comments/in Tax /by Stacie Malgieri

Handle Your Nonprofit’s Restricted Gifts with Care

Businesses with Employees Who Receive Tips May Be Eligible for a Tax Credit

Defer Tax with a Like-Kind Exchange

Will the Standard Business Mileage Rate Go Up in 2022? Yes!

2022 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

Providing a Company Car? Here’s How Taxes Are Handled

How are Court Awards and Out-of-Court Settlements Taxed?

The Tax Implications of Owning a Corporate Aircraft

U.S. House Passes the Build Back Better Act

Businesses Can Show Appreciation — and Gain Tax Breaks — With Holiday Gifts and Parties

Insights

CalSavers Deadline is Approaching for California Employers

Proposed Regs for Inherited IRAs Bring Unwelcome Surprises

Businesses May Receive Notices About Information Returns That Don’t Match IRS Records

Proposed Regs for Inherited IRAs Bring Unwelcome Surprises

Businesses May Receive Notices About Information Returns That Don’t Match IRS Records

Important News for California Pass Through Entities: PTE Payment Due June 15

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