KRS Publishes New Guide for Law Firms to the Tax Cuts and Jobs Act

Many law firms are still scrambling to come to grips with the tax code changes and develop tax planning strategies around them.

That's why we published a free downloadable guide, 'The Tax Cuts and Jobs Act of 2017 – Considerations for Law Firms."

The Guide will help managing partners and other executives at law firms determine the best strategy for optimizing the firm’s and partners’ tax positions.

KRS CPAs Promotes Kelley DaCunha to Accounting Manager

KRS CPAs has promoted Kelley DaCunha, CPA, to Accounting Manager. She previously served as Senior Accountant.

Kelley joined the firm in 2009 after receiving a BS in Accounting from Rutgers University and her CPA license.

“Through her hard work and dedication, she has proven that she is ready to lead a team and continue to grow as a manager. Her training and support of KRS staff members is so beneficial to the firm’s commitment to provide excellent service. Kelley truly exemplifies what KRS is looking for in our team members,” says Maria Rollins, CPA, MST, and the firm's managing partner.

What Every Employer Must Know About State Unemployment Tax

Although most wages are subject to SUTA tax, certain wages may be exempt. In New York, for example, wages paid to babysitters under 18 years of age, church employees, and certain family members are exempt from SUTA tax. Therefore, it’s essential to check with your state unemployment agency to determine which wages are related to SUTA.

Every employer should be aware of two components of SUTA: the annual wage base and the SUTA tax rate.

KRS CPAs Wins Inc. Magazine’s 2018 Best Workplaces Award

KRS CPAs has been honored with a 2018 Inc. Best Workplaces Award. This award recognizes successful small- and mid-sized businesses that value company culture, offer standout employee benefits, and prioritize employee well-being.

More than 1,800 companies (and 81,365 employees) of all sizes and industries were nominated for Inc.’s Best Workplaces Award.

KRS Partner, Gerald Shanker, explained, “We have created a relaxed environment. We’ve implemented a Flexible Work Program -- there are no mandatory hours during tax season. Employees can set their schedule for the work week as long as they are working the core hours of 10am to 3pm.

Managing Tax Rules for Part-Time or Seasonal Help

As an employer, you normally have to file a quarterly Form 941 to report your employees' wages and withholding. Each quarter, if you pay wages subject to income tax withholding (including withholding on sick pay and supplemental unemployment benefits) or Social Security and Medicare taxes you must file Form 941, although there are some exceptions.

Here are some things you need to know to ensure you're on track with state and federal taxing authorities.

IRS Releases 2019 HSA and HDHP Limits

The Internal Revenue Service (IRS) has announced the 2019 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code.

Leading Women Entrepreneurs’ “Making It to the Top”

Marika Dugan and Diane Pineda were proud to attend The Leading Women Entrepreneurs’ “Making it to the Top” event at Fiddlers Elbow Country Club for the second year in a row.

Social Security & Retirement Discussed at KRS Insights Breakfast

KRS’ latest Breakfast Insights series covered Social Security and retirement. Jarita Walker from the Social Security Administration discussed requirements for eligibility, strategies, and lesser known details about the program.

She strongly encourages everyone to create a My Social Security account to track their contributions and future eligibility. It’s the best resource available to individuals for frequently asked questions and strategizing for retirement.

New Jersey Passes Earned Paid Sick Leave Law

Gov. Phil Murphy signed legislation requiring employers to provide at least 40 hours per year of paid sick leave to their employees. The paid sick leave law does not take effect until October 29th, so employers have time to figure out what the law means for them.

Learn the facts about New Jersey's Paid Sick Leave Law.