Filing for Chapter 11 bankruptcy can bring a new lease on life for a struggling company. During bankruptcy, business leaders may confront the reasons for reorganization in a way that empowers the company to surmount its challenges and uncover opportunities to reassess operations. It’s even...
When it comes to filing business taxes, staying organized and attentive to detail is key to avoiding common blunders. Surprisingly frequent errors — such as incorrect Social Security numbers, miscalculations, or wrong bank details — can result in delays or even misdirected refunds. Making sure...
Last edition, we covered the compromised account scam, where a fake fraud specialist convinces you to move your money to a "safe" account that turns out to be anything but. This time, we're talking about something slicker—investment scams that rope you in slowly and take...
If you think bookkeeping is just data entry and balancing checkbooks, think again. A full charge bookkeeper handles much more—and at KRS CPAs, this role is central to how we help clients stay sharp, organized, and ready for whatever comes next....
Tracking progress and evaluating different aspects of your company’s performance is essential to ensuring your business is on the right path. Not only does this help you stay aligned with your strategic vision, but it also allows you to make informed adjustments to secure long-term...
A Roth IRA conversion involves transferring assets from a traditional IRA to a Roth IRA, and while it may be a smart move for some, it’s important to understand the implications and benefits before proceeding....
If you’ve ever picked up the phone and heard someone say they’re calling from your bank’s “fraud department,” you’re not alone. This month, we’re breaking down a scam that’s becoming far too common—the compromised account scam....
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....
