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KT is Here to Solve Your Retirement Plan Audit Needs

Employee benefit plan audits such as 401(k), 403(b), and ESOPs can be a daunting and stressful process, especially for those who have not been audited previously. KT is here to help alleviate that stress through our knowledgeable and experienced staff. Whether you have a benefit plan that has recently met…

January 22, 2024

A Closer Look at Recent Bipartisan Tax Legislation

Below are the latest developments from the tax landscape, and this time, it’s a bipartisan effort led by the House Ways and Means Committee and Senate Finance Committee. Let’s dive into the key highlights:Key Provisions: Full Expensing of Domestic Research Costs: Extended until 2026, including the current and upcoming tax…

January 18, 2024

The Corporate Transparency Act: Update III

We continue to monitor Corporate Transparency Act (CTA) developments. This update includes the news that as of January 3, 2024, the Financial Crimes Enforcement Network (FinCEN), the bureau responsible for enforcing CTA provisions, has established its system for online filing of beneficial ownership information. Reporting companies required to file beneficial…

January 16, 2024

New E-Filing Requirements You Need to Know

As we begin 2024, it’s crucial to start assembling all the essential information required for accurate filing of W-2 and 1099 information forms. The IRS mandates that any entity — be it a corporation, partnership, individual, estate, or trust — involved in a trade or business and engaged in reportable…

January 5, 2024

New Car Dealers: EV Days on Market Got You Down?

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 gas-powered models. Beginning in 2024, the IRS has a tool…

December 28, 2023