KT Insights

  • View All

Outsourcing Payroll

Payroll falls just above talking to employees about body odor on my things I want to do list. However, it is an essential function for any business, full of complexities and potentially costly errors. Recognizing the need and benefit of providing payroll expertise to our clients, we have designated…

September 5, 2024

BOI Reporting Scam

BOI (Beneficial Owner Information) reporting is a new mandatory business filing requiring most U.S. companies to submit their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) in 2024. While the actual requirement to report the BOI information is very real, the reporting has led to the latest…

August 14, 2024

BOI Reporting Assistance

If you have an established company or are planning on starting a new company in 2024 or beyond, please read this blog carefully. What Is FinCEN BOI Reporting? BOI (Beneficial Owner Information) reporting is a new, mandatory, NEW business filing requiring most U.S. companies to submit their BOI to…

August 13, 2024

QuickBooks Desktop Stop Sell

QuickBooks has announced the deadline to purchase new subscriptions of their desktop software, including Desktop Pro Plus, Desktop Premier Plus, Desktop Mac Plus, and Desktop Enhanced Payroll effective September 30, 2024. QuickBooks Desktop Enterprise will not be impacted by this change. This decision applies to the US only. The…

August 7, 2024

Boost Your Business with Google Reviews

We work with business owners from various industries and understand the constant pressure to market and sell effectively. One of the easiest and most cost-effective options to boost your business is by leveraging your Google My Business page and collecting Google Reviews. These can significantly enhance your visibility, credibility, and…

July 24, 2024

IRS Update on Employee Retention Credits

The IRS released an update on their review of the Employee Retention Credit (ERC). You may recall the IRS announced last fall a moratorium on processing claims submitted after September 14, 2023, to give the agency time to digitize information on the large study group of nearly 1 million ERC…

July 11, 2024

The CTA: How KT Can Help Navigate the Murky Waters

For our past analyses and updates on the CTA, please visit our blog. As a quick summary, the Corporate Transparency Act (CTA) requires most corporations, limited liability companies and similar entities formed or registered to do business in the United States to report beneficial ownership information (BOI) reports…

June 17, 2024

Estimated Taxes: Pay as You Go

Estimated tax payments can be a confusing aspect of managing personal or business finances, but they’re a crucial part of staying compliant with tax regulations and avoiding penalties. Here’s a concise overview to help you manage estimated tax payments effectively. What are Estimated Tax Payments? Estimated tax payments are periodic…

June 17, 2024

Employee or Independent Contractor?

According to the South Dakota Reemployment Department, contract labor is the most misused category of workers. It can be confusing for many employers to determine if a worker is an employee or an independent contractor. In this article, I will explain the distinctions between employees and independent contractors. How…

June 17, 2024

Hiring Kids for Summer Work

The kids have been out of school for almost a month now. You may have put them to work for the summer on the family farm or ranch. Sometimes kids work for free, work for cash, or maybe calf shares. Did you know you can pay them a wage and…

June 17, 2024