Jan 10 Summer Fun: Beaches, Pools and Taxes!
If you got married in June, in addition to thank-you notes, give some thought to the IRS to make filing your taxes easier:...
Jan 10 Top Benefits of Hiring Outsourced Accounting Services
Do you outsource HR and IT but feel squeamish about letting someone else get too close to your numbers? You probably have a fluctuating need for a bookkeeper, an accountant, a controller and a chief financial officer. You could hire all these people, but outsourcing...
Jan 10 Due Diligence for Law Firm Mergers
The reasons firms merge vary, but they include such objectives as increasing size or geographic reach, acquiring or expanding a specialty practice, and succession planning....
Jan 10 IRS Clean Vehicle Tax Credit FAQs
The Inflation Reduction Act of 2022 has altered the requirements for the clean vehicle tax credit, particularly for electric vehicles, including fuel cell vehicles. The credit is available for eligible commercial clean vehicles in addition to vehicles that were previously owned....
Jan 10 Is Your Side Hustle a Hobby or a Business?
With the rise of the gig economy, a lot of people have opted to turn their hobbies into profitable ventures. In turn, the lines are blurring between hobbies and small businesses, provoking many people to wonder what it means for their taxes. So, what is...
Jan 10 What’s the Story on Nonprofit and Tax-Exempt Entities?
Have you ever wondered how you’re supposed to determine whether your organization is eligible for exemption from federal income tax? The possibility of being tax-exempt is permitted under section 501(a) of the Internal Revenue Code....
Jul 15 Ensuring Safe Tax Payments: Electronic Payments vs. Checks
In recent years, the security of tax payments has become an increasingly pressing issue for individuals and businesses alike. As CPAs, we have witnessed cases where estimated tax payments made by check have been intercepted and stolen, highlighting the vulnerabilities associated with traditional payment methods....
Jun 27 Disadvantages Of Advantage Plans
Advantage Plans are offered by private companies, such as UnitedHealthcare and Humana, approved by Medicare. They are all-in-one programs that may appear to provide advantages over original Medicare, such as reduced or nonexistent premiums. But it is a balancing act, as they may require higher...
Jul 03 Lucky 13! KRS CPAs Named Among 2024 NJBIZ Best Places to Work
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...
Jun 27 What You Need To Know About SECURE Act 2.0
The SECURE — Setting Every Community Up for Retirement Enhancement — Act was passed in 2019. After that, SECURE Act 2.0 was passed in December 2022 and went into effect Jan. 1, 2023. The secondary SECURE Act establishes new rules regarding the timeline that individuals must...