Infrastructure Law Sunsets Employee Retention Credit Early
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has retroactively terminated it before it was scheduled to end.
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Use QOE Reports In Your Due Diligence Procedures
Are you thinking about merging with or acquiring a business? CPA-prepared financial statements can provide valuable insight into historical financial results. But an independent quality of earnings (QOE) report can
IRS Releases 2022 Fringe Benefit COLAs
The IRS recently released 2022 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits, including those related to many popular fringe benefits. Here are some highlights: Health Flexible Spending
Why A Gifting Strategy Still Matters
The IRS recently announced next year’s cost-of-living adjustment amounts. For 2022, the federal gift and estate tax exemption has cracked the $12 million mark: $12.06 million to be exact. Arguably
Fall Golf Tournaments in Full Swing for #KPMCPAs!
In October, fall golf tournaments were in full swing for #KPMCPAs! We were happy to sponsor and participate in the Ozarks Counseling Center’s Counseling Classic, Home Builders Association of Greater
Four Red Flags Of An Unreliable Budget
Every business should prepare an annual budget. Creating a comprehensive, realistic spending plan allows you to identify potential shortages of cash, possible constraints on your capacity to fulfill strategic objectives,
Don’t Forget To Use Up Your Flexible Spending Account Money
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some
Six Steps To Prepare Your Business For A Sale
The COVID-19 pandemic has put unprecedented stress on private business owners. Some are now considering selling their businesses. Before putting your business on the market, it’s important to prepare it
Businesses: Show Appreciation & Gain Tax Breaks With Holiday Gifts & Parties
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 again after a year of
2022 Cost-Of-Living Adjustments Should Be Factored Into Your Year-End Tax Planning
The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, mainly due to the COVID-19 pandemic, many amounts increased considerably