Tax Season Might Be Ending, But Our Work Is Just Beginning As we approach the end of another busy tax season at KT, we’re reminded that being a CPA isn’t just about preparing returns — it’s about building relationships, solving problems, and being a trusted part of each client’s team. …
At KT, our mission is to ensure your tax returns are completed accurately and on time. As one of the firm’s Tax Partners, I want to share some essential updates to our extension process. Document Deadline To help you receive a timely and accurately filed tax return or extension,…
An African proverb states, “The best way to eat an elephant in your path is to cut him up into little pieces.” Preparing for business taxes at the end of the year can seem like eating an elephant – an overwhelming task. Cutting up the work into smaller pieces, and…
10. I contributed money to my kids’ 529 education plans. What is the deduction for that? A: Federally, none. The money grows tax free and comes out tax free as long as it’s used for qualified educational expenses. In certain states with a state income tax, there are possible deductions…
During the Fall season, I encourage Ag producers to pause and take some time to get caught up with their yearly bookkeeping. They should also spend some time reflecting on the current year and think about their plans and opportunities for the upcoming year. Accurate, up-to-date bookwork is essential to…
