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Tax and Accounting News Updates

Check out our latest accounting and financial updates. Want more? Get the latest on these topics and more delivered to your inbox with our newsletter and information alerts.

Business owners: When it comes to IRS audits, be prepared

Aug 7, 2017

If you filed your 2016 income tax return (rather than filing for an extension), you may now wonder whether your business could face an IRS audit. Every business owner should understand what the IRS audit process may entail, and how it could impact the business.

Real estate investor vs. professional: Why it matters

Jul 14, 2017

Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why does this distinction matter?

Take control of your inventory with QuickBooks

May 30, 2017

When you started your business, maybe you were able to just check in the closet or the garage to see what inventory you had on hand. But now that your business has grown, that approach probably isn’t working so well any more.

Do you know the tax implications of your C corporation’s buy-sell agreement?

May 5, 2017

All private companies with more than one owner — no matter how they are structured — should have a buy-sell agreement to spell out how ownership will change hands should an owner depart.

Two ways to save for education costs

Mar 8, 2017

As the price of a college education continues to skyrocket, many parents (and grandparents) are looking for ways to save for future higher education costs. There are several taxpayer-friendly ways to save for a child’s or grandchild’s education.

What you need to know about the tax treatment of ISOs

Feb 10, 2017

Incentive stock options allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the grant date. If the stock appreciates, you can buy shares at a price below what they’re then trading for. However, complex tax rules apply to this type of compensation.

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Please contact one of our team members for more information on how we can help you with your business or individual financial needs.

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    "Kraft has helped KYZEN implement new accounting standards, address tariff issues, and navigate tax law changes to keep both our U.S. and foreign operations in compliance. Though they have the resources of an international firm, their local approach to customer service is what sets them apart."

    Tom Forsythe
    Executive Vice President
    KYZEN Corporation

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