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Timely Tax & Accounting Newsletter

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IRS raises standard mileage rate to 62.5 cents per mile

Jun 10, 2022

The IRS has increased the optional standard mileage rate by 4 cents per mile, its first mid-year mileage rate adjustment in 11 years.

Adjusting to the new lease accounting standard

Apr 6, 2022

Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.

Six tips to help you prepare for your next audit

Feb 24, 2022

Being fully prepared and organized can help your financial statement audit go smoothly and ultimately save your business or organization time, money, and headaches.

CTC, EIP recipients have important mail on the way

Jan 7, 2022

If you received a Child Tax Credit or third-round Economic Impact Payment in 2021, watch your mailbox for a letter from the IRS – it will include key dollar amounts that you’ll need to complete your 2021 federal tax returns.

ERC recipients won’t be subject to surprise penalties

Dec 10, 2021

The early end of the employee retention credit surprised employers who had been underpaying payroll taxes in anticipation of the tax break. But there’s a collective sigh of relief after news from the IRS.

Diversity starts in the boardroom and the C-suite

Dec 3, 2021

Diversity, equity, and inclusion are buzzwords in modern strategic management. Here are some of the benefits that initiatives in these areas bring to public and private companies and how companies can showcase their progress in footnote disclosures and separate diversity, equity, and inclusion reports.

Don’t delay year-end tax planning even while questions loom

Nov 23, 2021

Tax laws could change significantly in the coming weeks, but a few reliable year-end strategies should be at the top of your list as you look for ways to minimize your tax bill.

New infrastructure legislation includes notable tax changes

Nov 16, 2021

Congress has passed the Infrastructure Investment and Jobs Act after months of debate and negotiation. Find out what tax-related provisions have been built into the new law.

Tax law changes loom as part of proposed legislation

Oct 13, 2021

The outcome of two big pieces of legislation remains uncertain as negotiations continue in Congress. Here’s a look at the proposed bills and the potential tax law changes that could affect you or your business.

“KraftCPAs has taken care of the Zeitlin family business for three generations. We all sleep better at night knowing that KraftCPAs is looking out for our best interest.”

Shirley Zeitlin, Zeitlin Sotheby’s International Realty®

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