The IRS has begun sending CP14 Income Tax Notices to certain taxpayers reporting an income tax balance due plus interest and penalties for tax year 2021. If you receive one, do not panic. Many of these notices have been sent in…
On June 9, 2022, the IRS announced that they would make a mid-year mileage rate change to combat the much higher-than-normal gas prices. If you qualify for mileage deductions, this could help you trim your 2022 tax bill. From July…
It can be daunting to be contacted by the IRS. You may wonder if something was filed incorrectly or was missed, if there are financial consequences, and you may worry how to resolve the issue. Because of this, scammers have…
With residential real estate markets surging, significant unrealized gains are piling up for many homeowners. If you are thinking about selling your principal residence, you may be wondering about the tax implications. The good news is that tax laws allow you…
Are you thinking about moving into a new home and renting out your current home? Here are some things to consider. Let’s start with the many nontax factors to consider when deciding whether to sell or rent out your current…
How do I determine whether a worker is an employee or an independent contractor? The easiest way to answer this question is, do I have control over that individual? If the answer is yes, then they should most likely be…
The Black Hills area thrives on tourism — and behind it, the spirit of true hospitality. The act of being friendly, welcoming, knowledgeable, and organized are the hallmarks of hospitable treatment. At Ketel Thorstenson, LLP (KT) we have the same…
Intuit announced that they are discontinuing an older version of QuickBooks. If you are using QuickBooks 2019 then you won’t be able to use certain services and features after May 31, 2022. This is particularly important when you consider that…
This year Tax Day returns to its regularly scheduled deadline with individual returns being due April 18th. The extra three days are a result of IRS offices being closed on April 15th in observance of Emancipation Day. If you are…
Nikki Ritzen has been promoted to Manager. Elizabeth Davis, Chris Jansen, CPA, Nicole Laub, Hannah Sheffield, CPA, and Cassandra Stevens have all been promoted to Senior Associate. Nikki Ritzen, promoted to Manager, is originally from Chadron, NE. She graduated from…
