Buy-sell agreements are among the most important agreements entered into by business co-owners. Notwithstanding the importance, many businesses do not have buy-sell agreements in place, and for many that do, the agreements are ambiguous and outdated. This post shares crucial agreement provisions and discusses why...
Now is the time to contact vendors for any missing W-9 forms, so that you have a less frenetic year-end. Our recommendations and tips for filing 1099s can make the process much easier for you. ...
Recently I had the opportunity to attend the Specialty Food Associations’ Summer Fancy Food Show in New York City. I was drawn to this particular show because we have many clients who are in the food and beverage industry. In addition, I am a “foodie”...
A question I am often asked by my clients is whether they can deduct the dues for clubs at which they entertain customers or that otherwise may be relevant to their business. Here's what you need to know before you pull out your golf clubs....
At KRS, we work with many food startups, as well as established companies in food manufacturing, wholesale and distribution, brokerage, and transportation and logistics. We know how important it is to have the resources you need to grow your business, so we’ve put together this...
Managing partner Maria Rollins was a guest on the Accounting Success podcast, speaking on the topic, “How Successful Accountants Serve Their Clients.” In this session excerpt, host Ian Welham and Maria discuss what it means as a CPA to be more than a trusted advisor....
Selling a vehicle out right or trading it in towards a new vehicle usually involves analyzing the economics of the transaction. However, tax factors can start to complicate things if that vehicle was used in your business. This post covers some of the tax implications...
The February KRS Insights Breakfast featured guest speaker Mike Goldman, President of Performance Breakthrough, who works with leadership teams to ensure they have the right people, strategies and execution habits for growth. For those who missed the breakfast, we wanted to share some of Mike’s...
If you have a closely held corporation that is set up as a C corporations, you need to consider electing to be taxed as an S corporation, where there is only one level of taxation. This post reviews S corporation eligibility requirements and points out...
President Trump has proposed a detailed tax plan that will revise and update both the individual and corporate tax codes. Here are some of the key plan elements that could affect individuals and small business owners, if enacted into law....
