Oct 06 New Administrative Assistant – Kristiana Repantis
KRS welcomes our new administrative assistant Kristiana Repantis. She will support the team by running the front desk!...
Sep 23 Employee Retention Credit: Over but Not Done
The federal government's Employee Retention Credit proved to be a lifeline for many businesses and their employees. The eligibility rules were complex and changed over time, as noted in an extensive IRS chart. Not all owners may have been able to figure out whether they were...
Sep 23 Student Loan Relief: The Basics
President Biden has announced a new student loan relief program. According to the White House, the new program will "provide targeted debt relief to address the financial harms of the pandemic, fulfilling the President's campaign commitment....
Sep 13 KRS CPAs Again Recognized by Accounting Today for Culture, Flexibility, Competitive Pay for Employees
KRS CPAs was named as one of the Accounting Today’s 2022 Best Accounting Firms to Work for in the Small Employer Category. This marks the eighth time the Paramus-based firm has received this prominent award....
Sep 08 Home Office Deductions: More Complex Than They Seem
It's not always easy to figure out which home office write-offs are acceptable and which are not approved by the IRS. Below is a summary of the key provisions to give you a better idea of what you are able to deduct with the IRS....
Sep 08 Medical Deductions for Doctor-Recommended Adjustments
Taxpayers who claim their standard deduction amounts can’t deduct their medical costs. Only if they itemize on Form 1040’s Schedule A are they able to deduct such costs....
Aug 25 Gift Characterizations Cast Long Shadows
Back in 1913, Woodrow Wilson began his first term as president, and Americans first filed Form 1040s. Right from the beginning, Congress told the IRS to enforce rigid rules for compensation and to forget about gifts. The IRS followed orders....
Aug 25 The Inflation Reduction Act: What Does It Contain?
On August 12, Congress passed the Inflation Reduction Act, over 700 pages of economic changes. What does the act do? And just as important, what does it not do?...
Aug 12 Common FMLA Mistakes to Avoid
Officially called the Family and Medical Leave Act, the FMLA is a federal law that makes it a requirement for employers with at least 50 employees to offer unpaid though job-protected leave to any and all eligible employees. Here are common mistakes to be...
Aug 16 Lance Aligo Promoted to Partner
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...