Apr 19 How to Get Employee Info Correct
If you know in advance what common errors employers make with W-2s, maybe you can avoid those mistakes next year....
May 08 What To Know About Trusts and Taxes
For all intents and purposes, a trust is considered its own entity. Trusts are legal documents, but they are also taxed separately from those to whom the assets within a trust will be distributed....
Mar 02 KRS CPAs Has Joined the BDO Alliance!
We are pleased to announce that KRS CPAs, LLC has joined the BDO Alliance USA, a nationwide association of independently owned local and regional accounting, consulting, and service firms with similar client service goals....
Mar 02 Tax and Finance Tips for Seniors
The first tip is to always question where you are planning to get your advice from when it comes to tax and finance tips for seniors. There are a lot of scams out there — from incompetent and so-called experts to downright crooked "professionals." ...
Jan 03 How Do Taxes Work With Bonuses?
Both owners and employees often misunderstand how taxes work with bonuses, leading to confusion and frustration. Fortunately, with some education and preparation, the situation can work out for everyone....
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 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...
Jul 29 Exempt vs. Nonexempt: Where the Dividing Line Is
Are you sure you know whether your employees are considered exempt or nonexempt? It's important to classify workers correctly because their status determines their eligibility to receive overtime pay. Even if you think you know the difference between exempt and nonexempt status, there are some...
May 19 9 Ways To Avoid an IRS Audit
While you cannot fully control whether the IRS audits you come tax season, there are measures you can take in an effort to lower your chances of being audited. It all starts with hiring a reputable tax accountant. If you prefer to file your own...
Mar 10 IRS Updates Recovery Rebate Credit FAQ
The IRS has updated its Recovery Rebate Credit FAQ, which is organized into eight categories. The full document is available online, but you can find some of the updates below. ...