Each September the IRS publishes a list of counties for which exceptional, extreme, or severe drought was reported during the preceding 12 months. If you reside in, or are adjacent to one of these counties, and you sold more livestock…
We all remember how used car prices plummeted in December 2022. Were you left wishing you had a way to deduct that loss now to help offset record profits? The IRS does allow for the lower of cost or market…
KT announces the addition of new Partners, Carrie Christensen, CPA, MBA, and Brady Larsen, CPA, effective January 1st. Both Christensen and Larsen work in the Tax Department in the Rapid City office. Carrie J. Christensen has over 15 years…
With EVs representing just 8% market share of all domestic counterparts; sales and a significantly higher 5-year cost of ownership as compared to their gas-powered counterparts, it is no wonder why days on the market are double to triple comparable…
Sellers of new and used vehicles that qualify for a clean vehicle tax credit will be required to report information to the IRS on all qualifying vehicles sold. The IRS will use this information to validate tax credits claimed by…
The current federal estate and gift tax exemption is $12.92 million per person and $25.84 million per married couple for 2023. This means that you can transfer this amount of wealth to your heirs or beneficiaries without paying any federal…
We continue to monitor Corporate Transparency Act (CTA) developments. Two recent regulatory actions were announced by the Financial Crimes Enforcement Network (FinCEN), the bureau responsible for enforcing CTA provisions. Both regulatory actions are intended to help ease the reporting burden…
As the year-end quickly approaches, strategic tax planning opportunities are ripe for consideration. But you need to move quickly before it’s too late! One such opportunity involves harvesting unrealized tax losses from your digital currency portfolio. Like tax loss harvesting…
KT will be hosting our annual Construction Industry Lunch & Learn from 12-1pm on Wednesday, December 13th. Our presenters will be returning from the AICPA Construction Industry conference with the latest updates on legislation, cash management, and the changing labor…
Thank you for serving and protecting this great nations of ours! Heather Grace I served from 1994 – 1997, Army, Specialist (E4). I was stationed in Fort Gordon, GA and Ft. Bad Aibling Germany during my time. My husband…
