Do you want to go into business for yourself?

by KLPCPA | Feb 12, 2020 | Small Business, Taxes

Call Now Setup an Appointment Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. You may qualify for the pass-through deduction. To the extent your business generates...

New rules will soon require employers to annually disclose retirement income to employees

by KLPCPA | Jan 13, 2020 | Retirement, Small Business

Call Now Setup an Appointment As you’ve probably heard, a new law was recently passed with a wide range of retirement plan changes for employers and individuals. One of the provisions of the SECURE Act involves a new requirement for employers that sponsor tax-favored...

New law provides a variety of tax breaks to businesses and employers

by KLPCPA | Jan 6, 2020 | Small Business, Taxes

Call Now Setup an Appointment While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. The “Further Consolidated Appropriations Act, 2020” was signed...

Holiday parties and gifts can help show your appreciation and provide tax breaks

by KLPCPA | Dec 2, 2019 | Small Business, Taxes

Call Now Setup an Appointment With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good idea to...

2 valuable year-end tax-saving tools for your business

by KLPCPA | Nov 27, 2019 | Small Business, Taxes

Call Now Setup an Appointment At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related tax breaks that may help your business reduce its 2019 tax...

Small businesses: Get ready for your 1099-MISC reporting requirements

by KLPCPA | Nov 18, 2019 | Small Business, Taxes

Call Now Setup an Appointment A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors, and others. You may have to send 1099-MISC forms to those whom you pay nonemployee...