In a groundbreaking legal decision, the Supreme Court has recently sided with taxpayers in their ongoing battle against penalties for Foreign Bank and Financial Accounts (FBAR). This momentous ruling marks a major victory for taxpayers who have been grappling with the fear of exorbitant fines for failing to report foreign bank accounts. For US taxpayers […]
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On September 1, 2020, the Internal Revenue Service (IRS) added a new section called the BBA Centralized Partnership Audit Regime to its website, IRS.GOV. The step was taken as part of its objective to increase partnership audits in 2021. Prior to January 1, 2018, when the IRS audited a partnership, tax, interest, or penalties owed
Are you confident that your Partnership or LLC is ready for a possible audit? Read More »
If you’re looking for a reliable, experienced, and trustworthy CPA firm in Coral Springs, look no further. Our team of skilled and knowledgeable CPAs and Accountants are dedicated to providing the best possible tax and accounting services to our clients, and we take pride in our ability to deliver exceptional results. At KB CPA Services,
KB CPA Services: The Best Local CPA Firm in Coral Springs, Florida Read More »
On February 7, 2023, President Biden delivered his State of the Union address. Among many topics addressed, we picked the following: No Income tax increases. The President stated that there were no plans on raising income tax rates for income under $400,000 per year. Billionaire Minimum Tax. Biden reiterated his commitment to a proposal for
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Retirement is an important part of every individual’s financial life, and the recently passed bipartisan budget bill includes provisions that aim to increase access to retirement savings for all Americans. In this article, we will explore the key elements of the retirement savings package and how it will benefit individuals and families. The SECURE 2.0
The Secure Act 2.0 and the Importance of Retirement Savings Read More »
As a Healthcare Professional, the Accounting and Tax functions within your organization are vital to you in terms of growth and asset protection. A certified public accountant is a valuable member of your medical practice team in order to create and manage tax strategies that maximize profits, minimize your tax burden and help grow your
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We believe that most things can be handled better by a professional, so we at KB CPA Services are here to help you. We are a full-service accounting firm that can handle all types of accounting needs, from simple tax preparation and payroll bookkeeping to complex comprehensive audits with seamless fintech integration. Financial statement preparation
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Tax Law Changes There are many important changes in the Tax laws, we picked what’s most important to our business clients. Standard Mileage Rates In 2023, the rate for business miles driven is 65.5 cents, up 3 cents from the midyear increase setting the rate for the second half of 2022 Section 179 Expensing In
Important Tax Law Changes for small business owners in 2023 Read More »
Here are some tips to consider in 2023 tax filing season: It’s time to file your tax return, and many of us are facing smaller refunds, shrunken tax credits and deductions — right as inflation and higher debt loads are biting into our budgets. The IRS starts accepting tax returns for 2022 earnings on Jan.
Your tax refund will likely be smaller in 2023 tax filing season Read More »
The best tax preparation service in Coral Springs We’re the best tax preparation service in Coral Springs, Florida. We’re experts at helping you get your taxes done quickly and easily, so you can focus on what matters most to you. Our team of CPAs is dedicated to providing our clients with high-quality service and support
KB CPA Services P.A: Best tax preparation service in Coral Springs Florida Read More »