TAXPAYER RESOURCES

With tax laws changing every year, completing your returns can be confusing and frustrating.

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Tax news and updates for individuals, families, and entrepreneurs

Our team of tax experts has the solutions to make your next filing a little easier — and that insight is just a click away. Browse our archive of tax-related posts below, and click the button to sign up for our newsletter and updates.

Business expense rules can be confusing

Oct 6, 2023

It’s common practice to deduct business expenses on tax returns. But to be deductible, expenses must be ordinary, necessary, and reasonable. Here are the rules.

The NIIT impact can be minimized with planning.

Planning for net investment income taxes

Oct 2, 2023

Higher-income taxpayers can face the additional net investment income tax if gross income totals reach certain six-figure levels. It’s important to know how the tax is calculated and planning strategies that can soften the tax hit.

Why related-party arrangements matter

Sep 22, 2023

Identifying related parties is just one of many parts that go into preparing financial statements. Here’s why they matter, why auditors give them scrutiny, and how to avoid the risks that often accompany them.

IRA packs incentives for healthcare industry

Sep 22, 2023

Healthcare organizations have significant financial incentives to capitalize on tax credits available from the IRA when investing in clean energy assets.

Is an HSA best for your financial health?

Sep 20, 2023

Many companies offer health savings accounts to their employees. You might also be able to open one of these tax-saving accounts through certain banks and other financial institutions. Here are the basic rules.

IRS suspends processing of ERTC claims

Sep 19, 2023

With fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through the end of 2023.

How taxes factor into M&A transactions

Sep 18, 2023

Buying or selling a business? It may be the most important transaction you ever make, so it’s important to understand the tax implications as you negotiate.

New guidance clears contribution confusion

Sep 8, 2023

The SECURE 2.0 Act’s new retirement catch-up contribution rules caused problems and confusion for employers and employees alike. The IRS has now provided guidance.

Add a tax break to your holiday gift list

Sep 6, 2023

Make the most of estate and gift tax exemptions now before deduction limits change in 2026.

"We saved one client $700,000 using R&D credits — credits that the company’s previous CPA told them they were not eligble to claim. We stay on top of the latest tax laws to help clients reduce their taxes.”

Mark Patterson, KraftCPAs Tax Services

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