The Internal Revenue Service (IRS) has released new versions of Form W-4 and its online withholding calculator to help taxpayers check their 2018 tax withholding following passage of the Tax Cuts and Jobs Act in December 2017.
The IRS urges taxpayers to use these tools to make sure they have the right amount of tax taken out of their paychecks. This article shares links to the new W-4 and the withholding calculator.Read More
New and existing small employers should look into whether the Small Business Health Care Tax Credit can help them provide insurance to their employees. The credit can be worth up to 50% of the amount a small business contributes toward employees' premiums. Find out if your business can benefit.Read More
Join KRS CPAs as we participate in Bowl for Kids’ Sake, hosted by Big Brothers Big Sisters of Northern NJ.This is their annual event and this year they are adding a unique twist. It will be the first ever costume party Bowl-A-Thon and the theme is the 1980s.Read More
Last week KRS Staff Members Diane Pineda and Marika Dugan volunteered as mentors to Edison High School students through Junior Achievement of NJ’s Finance Park.Read More
KRS partner Jerry Shanker has been appointed Treasurer of the newly formed New Jersey Chapter of the National Association of Divorce Professionals (NADP).
As a founding member of the New Jersey Chapter, Jerry is excited about helping build the chapter, collaborating with other members, and most importantly, assisting people who are going through the divorce process.Read More
Did you know that taking the right Social Security benefits at the right time can make a huge difference to your living standard in retirement?
Join us on May 10 as Jarita Walker from the Social Security Administration takes us through the ins and outs of Social Security and what it all means for your retirement.Read More
The IRS released a statement on withholding under the new tax law. According to a statement released by the agency, it expects to issue the new guidance sometime this month. Until that guidance is finalized, your paycheck withholding will look the same as 2017.
We're following this issue closely, along with all the others associated with the new tax law.Read More
On Thursday, NJ Building Business Connections (NJBBC) held a Holiday Happy Hour networking event with an ugly sweater theme. The event was hosted by the founders, Diane Pineda and Lance Aligo, CPA, both of KRS CPAs.
NJBBC is a group of young professionals interested in sharing ideas, leads and referral sources. IT offers YPs the opportunity to make valuable connections with others in many different industries.Read More
Tax season is almost here and along with it comes the requirement for businesses to send out 1099s. While this can be a tedious task – especially if you haven’t kept good records on your independent contractors – it is necessary to avoid penalties.
If you paid $600 or more to any “non-corporate” independent contractor or to an attorney, you need to know the rules for 1099s.Read More