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Year-End Business Newsletter

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.

Happy Thanksgiving

Happy Holidays from all of us at KKB!

Choosing a business entity: Which way to go?

Choosing the best entity for your business is a multi-faceted decision. Here’s a look at the some of the considerations.

Are scholarships tax-free or taxable?

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.

Don’t let IRS compliance issues drag down your nonprofit

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.

Income tax filing deadline postponed to November 16 for most California taxpayers

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.

Business automobiles: How the tax depreciation rules work

Complex calculations are involved in claiming depreciation deductions for the business use of a passenger automobile. Here are the basic rules.

The tax implications of renting out a vacation home

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.

4 ways to prepare for next year’s audit

It’s time to prepare for next year’s audit. Are you ready for fieldwork to begin?

Insights

Advantages of keeping your business separate from its real estate

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It 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

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Cutoffs: When to report revenue and expenses

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Does 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

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Help ensure your partnership or LLC complies with tax law

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Guaranteed 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

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