There are many benefits to being your own boss, but the first step in starting a new business is picking the right entity in which to operate that business. As discussed below, there are many types of structures available for a new business, and the...

As you plan for potential tax policy changes under the new presidential administration, take the opportunity to identify and mitigate tax risk issues. According to the 2024 BDO Tax Strategist Survey, only 40% of respondents had implemented a tax risk mitigation and response strategy, which...

The IRS's annual "Dirty Dozen" memo lists 12 scams you should watch out for. This education effort wants to protect you from tax traps like identity theft or being misled into claiming tax credits you're not entitled to....

We’re excited to introduce Valentina Dautaj, who joined KRS as an Administrative Assistant in November 2024. In this role, she assists in keeping the firm running smoothly by handling phone communications and client documents, processing returns, ordering supplies, and organizing events....

If you’ve made the decision to close your business, it’s important to follow the proper steps to legally dissolve it. This process, known as dissolution, begins when you file the necessary paperwork with your state. By taking this formal step, you officially terminate your LLC...

Many affluent families believe that their financial affairs are straightforward, leading to frustration over the lack of immediate access to comprehensive financial information for liquidity, budgeting, tax planning, and investment management purposes. In reality, however, many wealthy individuals have more complex financial affairs than they realize,...