Dec 16 Give Your Heirs a Fair Shake
For some simple estates, all you may need to do is split your assets in equal proportions among heirs. In other instances, however, you have more complex issues to confront....
Dec 06 IRS Update on Student Loan Relief
In late September, the IRS sent out some new details on student loan relief, which was announced earlier this year. It has also provided links for further information. Meanwhile opponents of loan relief are taking legal action to try to prevent it, although the administration continues to...
Dec 01 It’s Always a Good Time to Check Withholding
In general, the IRS advises taxpayers to make changes if they hold more than one job at a time or have income from sources not subject to withholding. Taxpayers who don't make the necessary changes could get an unpleasant surprise when filing. They could owe...
Nov 17 Backup Withholding and Nonemployee Compensation
Backup withholding is a certain method that the IRS implements as a way to make sure that the taxes that are associated with specific types of income are paid on time if not in general, especially if taxpayers have failed to properly report these taxes...
Nov 17 The Dangers of Procrastination
If you dither and procrastinate over creating even a straightforward will or simple trust, you put the future finances of your family and loved ones in jeopardy. You risk that the assets you have worked for a lifetime to accumulate or protect will not be...
Nov 04 Adoption Tax Credit: Right for You?
Adopting a child can be both complicated and expensive, costing upwards of $40,000. However, with the help of the government, you can obtain an adoption tax credit that was worth $14,400 in 2021....
Nov 03 The Tax Implications of Your Business Reputation
These case studies illustrate how the IRS uses the "origins of the claim" test to determine if business expenses can be deducted....
Oct 20 Meet Darius Adair!
We are excited to introduce Darius Adair who has recently joined our KRS team as a Senior Accountant. Darius is a Certified Public Accountant who brings with him over 20 years of previous tax and accounting experience to his new position....
Oct 20 Meet Michelle Calabrese!
We are pleased to announce that Michelle Calabrese has recently joined KRS CPAs as a Supervising Senior Accountant. In her new role at KRS, Michelle will be responsible for assisting our clients with their individual and business tax compliance needs....
Oct 06 White Flags: Signals of Market Capitulation
Modern equities investors follow their own market signals for capitulation, which describes the final gasp during the stampede to the exits when the pain of a bear market has become unbearable. Analysts have assembled a collection of signals that often, though not always, reveal that...