At KRS CPAs, our team-first mindset shows up in the way we work, the way we support each other, and how we treat our clients. If you’re someone who values work-life balance, productivity, and a real shot at growth, we’d like to talk to you. We’re...
For the 13th year, we have received the NJBIZ Best Places to Work in New Jersey Award for companies with 15-49 employees. We are thrilled to have won again. “We pride ourselves on our ‘work hard, play harder’ culture that keeps everyone motivated through tax seasons...
Accounting manager Lance Aligo, CPA, MSA, advances to a partner position at KRS. He will continue to provide his tax expertise to high net-worth individuals, real estate clients, and others in the firm’s growing client base. He will also continue to lead recruiting and staff...
ASC 842 impacts all entities that lease property, plant or equipment and report under GAAP On February 25, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update, ASU 2016-02, Leases (ASC 842). For non-public entities, ASC 842 is effective for fiscal years beginning...
We’re on the list again! For the 11th year, we’ve received the NJBIZ Best Places to Work in New Jersey Award for companies with 15-49 employees. “We have a strong team environment, where managers spend time with junior staff, guiding them through different processes. We also...
New Jersey, along with the rest of the nation, stands at an economic crossroads, with post-pandemic consequences, inflation, and a possible recession all impacting the state. Businesses are facing new challenges that could get worse as monetary policy changes take hold. Accountants will be the...
Short term rentals are very popular these days. Especially on rental sites such as Airbnb and Vrbo. Whether it’s a cottage at the beach, an apartment in the city, or a home in the mountains, short term rentals make it easy to travel and provide...
In divorces, alimony payments often are substantial and have been locked into tax deductions for the payer — but that was before the Tax Cuts & Jobs Act passed....
On November 4th, 2021, the Internal Revenue Service announced 401(k) contributions for individuals have been increased to $20,500. For tax years 2020 and 2021, the maximum was contribution was limited to $19,500. The IRS also issued technical guidance regarding cost of living adjustments affecting dollar...
It's been a very busy year at the IRS, with many special tax changes. This article reviews top issues to discuss with your tax preparer before tax prep time....
