Strategic Considerations for Construction Contractors The Tax Cuts and Jobs Act of 2017 ushered in full 100% Bonus Depreciation expensing for qualified property acquired and placed in service in years beginning after September 27, 2017. This tax perk has proven…
KT is pleased to announce the promotion of Stacey Laub to Senior Associate in the Accounting Services department, the promotions of Luke Bates, Kelsey Cropsey, and Erin Kremers to Senior Associate in the Audit department, and Kale Lytle, Angie McDonnell,…
KT is pleased to announce the promotion of Linda Horsley to Manager in the Accounting Services department, and the promotions of Wes Hanson, Elijah Houchens, Jordan Jones, and Nick Michael to Manager in the Audit department. Linda Horsley has worked…
The IRS recently announced that it would resume sending tax notices that were previously halted due to COVID-related processing backlogs. In addition to resuming the halted notices, the IRS has begun to send out 2022 balance due notices. Additionally, the IRS…
In an attempt to clarify entity ownership, Congress may have muddied the waters. On January 1, 2021, Congress enacted the Corporate Transparency Act (CTA) as part of the Anti-Money Laundering Act of 2020. Congress passed the CTA to “better enable…
WRITTEN BY BRIAN PEREIRA What is Section 45L? Section 45L of the Internal Revenue Code provides a tax credit (dollar for dollar savings on any tax liability) for qualified residential properties. The credit was set to expire on December 31, 2021,…
On March 27, 2023, House Bill 1137 was signed into law. This bill decreases the state sales and use tax rate from 4.5% to 4.2%, effective July 1, 2023. Additional rates affected by the change are the special jurisdiction tax,…
I often have clients ask things like, “What if I don’t pay my estimated tax payments,” “Can I make payments to the IRS on my bill,” or “I can’t pay my taxes now, can we extend?” My answer is usually…
One of the special tax provisions that applies to qualified farmers is relief from the estimated tax requirements. Agriculture Producers may be familiar with the IRS rule stating that qualifying farmers who make two-thirds of their gross income from farming…
Addressing employees who are not meeting your performance standards is a challenging feat. And unfortunately, no one has come up with a pill, magic wand, or corrective recourse. That means to be successful, you must learn how to effectively address…
