The One Big Beautiful Bill was passed into law on July 4. As with most tax legislation, this bill has an impact on both businesses and individuals. Here are some of the key provisions that will affect businesses. In our next newsletter, we’ll cover the...
We’re excited to welcome Jennifer Fanelli to KRS as a Senior Accountant. Jennifer joined the firm on July 1 and supports audit and assurance services for clients needing audits, compilations, or reviews. She’s also involved in tax work and steps in wherever needed to support...
Sales tax is a consumption-based tax applied to the sale of goods and services, but its structure is anything but uniform across the United States. With varying rates, rules, and exemptions depending on the jurisdiction, navigating sales tax obligations can be a complex but necessary...
The IRS shared some helpful reminders recently, and we’ve summarized them here so you can act now to make next tax season smoother....
Your three-digit FICO credit score is a key number. Lenders of all types, including those offering mortgage, auto, student, and personal loans, rely on your credit score to determine if you qualify for loans and at what interest rate....
Before you can determine whether an individual providing services should be treated as an employee or an independent contractor, you must consider all the relevant facts regarding the degree of control you have over the worker and the amount of independence the worker has....
Ruth Ithau joined KRS as a Staff Accountant in June 2025, after serving as an Administrative Intern earlier in the year. Her role now includes preparing and filing tax returns, recording client data through journal entries, and reconciling bank statements....
Shayna Jimenez is a new staff accountant here at KRS, where she supports our team across a range of needs. She contributed to 1099s and tax returns during busy season and is now focused on bookkeeping....
On June 30, 2025, New Jersey Governor Phil Murphy signed the FY 2026 budget into law, ushering in major changes to the state’s “mansion tax.” Notably, the supplemental fee now shifts from buyer to seller obligation, with a tiered structure for luxury properties. The traditional...
If you're selected for an IRS audit, it's natural to feel uneasy. However, it's important to know that the IRS cannot probe into your personal life without valid cause. Unless there is a strong indication that you've failed to report income, the IRS is restricted...
