Aug 31 Real Estate Rentals, the Sharing Economy and Taxes
Ready to become a part of the sharing economy? If you're considering renting out your primary or vacation home, you'll want to read this post first to learn the tax rules....
Aug 29 What Tax Topics Do Millennials Care About?
KRS senior accountants Lance Aligo and Diane Pineda recently participated in an NJBIA panel focusing on personal finances for young professionals. The first few years following college can be very challenging and it’s important for YPs to understand the tax implications of life changes.This post...
Aug 21 Is it Time to Update Your Buy-Sell Agreement?
Buy-sell agreements are among the most important agreements entered into by business co-owners. Notwithstanding the importance, many businesses do not have buy-sell agreements in place, and for many that do, the agreements are ambiguous and outdated. This post shares crucial agreement provisions and discusses why...
Aug 15 Income Tax Incentives for Land Conservation
Conservation easements have been receiving increased press and scrutiny from the IRS, which is cracking down on easement donation abuse by tax shelter promoters. These easements are meant to further the public good by encouraging taxpayers to donate property rights to organizations so the property...
Aug 03 What Is the New GAAP Lease Accounting Standard?
In February 2016, FASB issued an update, ASU 2016-02, Leases (Topic 842) which impacts all entities that lease property, plant, or equipment. Under the new guidance, a lessee will be required to report on its balance sheet certain assets and liabilities related to lease...