In the wake of recent hurricanes, the Financial Crimes Enforcement Network (FinCEN) has issued temporary relief measures to assist businesses and financial institutions in affected areas. The relief primarily pertains to the reporting requirements under the Bank Secrecy Act (BSA), particularly for those impacted by...
The Inflation Reduction Act of 2022, signed into law on August 16, 2022, created a new corporate alternative minimum tax (CAMT) for taxable years beginning after December 31, 2022. On September 12, 2024, after issuing multiple pieces of interim guidance, Treasury and the IRS released...
Gerry Turner, the first "Golden Bachelor" and a widower, and his wife, Theresa Nist, a widow, started divorce proceedings just three months after their televised wedding. Their marriage and subsequent divorce emphasize the importance of estate planning in remarriages or domestic partnerships where one or...
If you're having an IRS problem, mediation — also known as alternative dispute resolution — can help you resolve your tax issues early and efficiently, according to the agency. Mediation can provide a less expensive approach to wrapping up a problem than other options....
In August 2024, the Financial Crimes Enforcement Network (FinCEN) announced a final rule that is designed to combat and deter money laundering by increasing transparency in the U.S. residential real estate sector....
The journey from founding a company to successfully handing over the reins involves navigating a complex maze of financial, legal, and even emotional challenges. Robust succession planning can prepare the family-owned enterprise for new leadership or new owners while enhancing the financial stability of the...
Encore! We're once again honored to be named one of the 101 Best and Brightest Companies to Work For in the Nation!...
State and local tax (SALT) credits and incentives programs continue to be underutilized. Despite the substantial value they can add for businesses, BDO’s 2024 CFO Outlook Survey found that just 34% of CFOs plan to optimize costs by claiming tax credits in the next 12...
Meet Patricia Fordham, one of the newest bookkeepers here at KRS! Since joining the team in June 2024, Pat has been responsible for reconciling bank and credit card accounts, managing sales taxes, and ensuring bills are paid promptly for our clients. She brings a unique blend...
Choosing to onboard a freelancer, also known as an independent contractor, can significantly impact your business's financial landscape. Unlike employees, freelancers are responsible for their own tax obligations. This means you are not required to withhold federal taxes, state income taxes, Social Security, or Medicare...
