Starting a business is exciting, but taxes quickly become part of the picture. If you’re opening a business, you’ll encounter multiple types of taxes. Below is a straightforward overview of the most common ones, followed by deductions and credits that can help lower what you...
It’s never too early to think about the tax consequences of decisions you make while building your commercial real estate (CRE) empire. After all, the money you stick in your pocket is what’s left after you hand Uncle Sam his share. You’ll profit more and stress...
The new year’s almost here, and that means the 2026 tax season isn’t far off. If you’re looking to make filing easier and avoid delays, now’s a good time to start getting organized. A few small steps today can help make the entire process less...
If you plan to hire employees, operate as a corporation or partnership, or file specific types of tax returns — such as employment or excise or for industries such as alcohol and tobacco — you'll need an EIN....
Child and dependent care costs can take a big bite out of your budget. To help ease the load, the IRS offers a tax credit for qualifying care expenses incurred while you (or your spouse, if filing jointly) are working or looking for work....
A reverse mortgage is a type of loan open to homeowners age 62 and older. Unlike with a traditional mortgage, homeowners don't make payments to a lender with a reverse mortgage. Instead, the homeowner receives payments. You can choose to receive your payments as a...
If you’ve recently inherited property and are thinking about selling it, you may be unsure how much the asset is worth and whether you’ll owe tax on the sale. Understanding how the IRS determines value, and how that affects gain or loss, is essential before moving...
If you bring someone into your home to perform regular or occasional services, the IRS may consider them a household employee. When this applies, you may be responsible for Social Security, Medicare, and unemployment taxes, along with specific reporting requirements....
The IRS has announced increases to key retirement contribution limits for the 2026 tax year. These changes affect 401(k), IRA, SIMPLE, and other qualified plans. If you're planning your long-term savings strategy or advising clients, these updates are worth noting....
We’re excited to share that KRS CPAs has once again earned a spot on two major workplace recognition lists: the 2025 Best Places to Work in New Jersey and the Best & Brightest Companies to Work For in the Nation....
