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President Biden’s 2024 budget proposal includes a variety of changes that could impact taxes for both individuals and businesses.
The IRS has increased the optional standard mileage rate by 4 cents per mile, its first mid-year mileage rate adjustment in 11 years.
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.
Being fully prepared and organized can help your financial statement audit go smoothly and ultimately save your business or organization time, money, and headaches.
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.
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.
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.
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.
The new lease accounting standards changed in 2019 for public companies. Calendar-year private companies that follow U.S. Generally Accepted Accounting Principles must comply with the updated lease rules in 2022.
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“KraftCPAs has the experience and specialized training to provide us with the high quality, professional audit and tax services we need. They are always current on any new IRS rulings and give sound advice for best practices. They conduct their work with integrity and are very responsive when we have questions or seek advice.”
Scott Perry, The Memorial Foundation
