IRS further clarifies deductibility of PPP loan expenses
The IRS has issued more guidance to clear up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.
Congratulations to Danetta Allen and Lynsey Roberts for being named as KraftCPAs newest members.
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KraftCPAs PLLC has expanded its footprint to Chattanooga with the acquisition of Matheney Stees & Associates PC (MSA).
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We pulled together a variety of resources related to COVID-19 including tax extensions, relief bills, stimulus packages, and investment advice to assist you in navigating the economic impact of this virus.
View COVID-19 Resources
The IRS has issued more guidance to clear up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.
Did you file an extension until Oct. 15 to file your 2019 tax return? After finishing, you may find yourself with piles of tax-related documents. Here are some tax recordkeeping guidelines.
Interested in reducing your 2020 tax liability? There’s still time to take these year-end tax planning steps.
New SBA questionnaires request information related not only to the economic condition of the borrower at the time it received the PPP loan but also about its economic experience after receiving the loan.
Conditions are ripe during the COVID-19 crisis for dishonest employees to steal assets, engage in corruption schemes and/or misstate financial results. Here’s a look at the fraud triangle and how the motive, rationalization, and opportunity to commit fraud has grown during the pandemic.
Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of business owners. But the more you know about IRS audits, the better you might fare.
The Auditing Standards Board has issued a proposal that would revise its audit standards related to risk assessment. That could mean more audit procedures related to your company’s internal controls, cyberthreats, and other risk factors as your auditors assess your situation.
January 12, 2021
9:00 am - 11:00 am
"Accurate, prompt, and caring, the Kraft team takes care of all things financial so the board and I can concentrate on serving our members.”
Rebecca Leslie
Executive Director
Nashville Academy of Medicine
"KraftCPAs has taken care of our family businesses for three generations. We sleep better at night knowing that Vic and his team are looking out for our best interest."
Shirley Zeitlin
Chairman
Zeitlin Sotheby's International Realty®
"KraftCPAs shares the Hiscall values of integrity and commitment to customer service. They keep us ahead of the game and always prove to have my best interest at heart."
Gary Luffman
Chief Executive Officer
Hiscall, Inc.
"What's not to love? They're simply the best. KraftCPAs takes care of our family business as if it were their own."
Michael Smith
President
Rio Grande Fence Co.
