Mar 20 Are Gifts Subject to Tax?
Many taxpayers are curious about whether gifting cash, property, or assets triggers any tax obligations. The answer is generally no; however, there are certain limits and exceptions to consider....
Mar 20 How Outsourcing Can Transform and Facilitate Month-End and Year-End Close
In a business world marked by uncertainty, month-end and year-end accounting challenges have remained a constant. The resolution of the recent political season and the Federal Reserve’s lowering of interest rates may have given organizations an overall renewed sense of optimism and the momentum to...
Mar 06 Bookkeeping is Only Half the Equation for Effectively Managing Wealth
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,...
Mar 06 Top Tax Issues Pass-Through Entities Should Consider in 2025
Pass-through entities, including partnerships, S corporations, and LLCs, can benefit from many tax advantages due to their structure, but they also encounter distinct challenges. BDO’s 2024 Tax Strategist Survey, which polled senior tax executives about their most pressing concerns and plans for the year ahead,...
Jun 26 A Winning Streak: Maria Rollins Named to NJBIZ Accounting Power 50
For a third time in a row, KRS managing partner Maria Rollins, CPA, MST, has been named to the Accounting Power 50 list. Rollins understands the daily challenges businesses face and ensures the KRS team gets the training and resources they need to help clients...
Mar 21 Watch Out for Form W-2 Pitfalls
At the end of every year, most businesses go through the process of filling out a Form W-2 for each employee, which can make for a very stressful time. The pressure of knowing that even the smallest of mistakes can result in costly consequences can...
Feb 26 Tips On Small-Business Payroll
As a good rule of thumb, select a payroll process that doesn't require an advanced degree to implement. Refer to your provider and determine whether there is a self-service employee portal. That way, it's simple to view all paystubs and end-of-year tax forms when the...
Jan 29 Is Your Withholding Correct?
At the end of every year, your employer will send you a document called Form W-2, Wage and Tax Statement. Within this document, you will see the amount of money you were paid in wages as well as the amount of money that was withheld...
Dec 28 Clean Cars and Your Tax Bill
You may qualify for a credit of up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in or fuel cell electric vehicle....
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