Navigating the Dynamics of Qualified Opportunity Zones (OZ) With the inception of the Qualified Opportunity Zone (OZ) incentive as part of the 2017 Tax Cuts and Jobs Act, the Treasury Department projected a substantial infusion of $100 billion in new capital investment into around 8,700 designated census tracts across the United States. Despite the intricate […]
Navigating the Dynamics of Qualified Opportunity Zones (OZ) Read More »
Trusts have served as integral tools in tax planning for numerous decades, offering various advantages such as: Reducing income tax liability Diminishing estate tax liability Bypassing probate Shielding assets from creditors Dictating posthumous wealth utilization Despite their widespread utility, the term “trust” encompasses a diverse range of trust types, causing many individuals to feel overwhelmed
Grantor and Non-Grantor Trusts Read More »
At KB CPA Services P.A, we take pride in being your trusted partner for all your financial needs. Our experienced team of professionals offers comprehensive Tax, Audit, and Accounting services to clients in the vibrant communities of Coral Springs, Boca Raton, Tamarac, Fort Lauderdale, Coconut Creek, Margate, and Deerfield Beach. Coral Springs When it comes
Expert Tax, Audit, and Accounting Services in South Florida Read More »
Estate planning is complex enough as an individual, but when you’re planning as a married couple, it can bring about even greater challenges. Collaborating as a unified partnership for the future of your shared estate means that both of you will have specific priorities to incorporate into the plan. Some common concerns might include the
How Does an Estate Tax Marital Deduction Work? Read More »
Former IRS Commissioner Mark Everson draws a parallel between the IRS’s transition to digital processes and the construction of the interstate highway system in the 1960s from his childhood memories. In an interview with JofA, Everson recollected, “Back when I was a child, living in New York, I-95 would take you up to Providence. You’d
IRS: Tax Season 2024 could be paperless Read More »
Introduction As a small business owner, you dedicate endless hours and hard work to make your entrepreneurial dreams a reality. However, amidst the hustle and bustle of running your business, it’s crucial not to overlook one critical aspect of your financial future: retirement planning. Building a substantial nest egg is essential to ensure a comfortable
Maximizing Retirement Savings as a Small Business Owner Read More »
According to the Treasury’s FinCEN, a company’s beneficial owners refer to the individuals who have ultimate ownership or control over the company. In its Notice of Proposed Rulemaking (NPRM) issued in December, FinCEN stated that sharing information about these owners will aid in the prevention and detection of money laundering, terrorist financing, tax fraud, and
KEY TAKEAWAYS Financial experts emphasize the importance of preparing for next year’s taxes early, especially if you encountered unexpected tax bills this season. Consider the following three smart strategies: reviewing your 2022 filing, assessing your withholdings, and reevaluating your portfolio. If you were taken by surprise with a tax bill this year, it’s never too
Three Intelligent Approaches to Prepare for Next Year’s Taxes in Advance Read More »
Here is what you need to know about the tax relief package by Florida House. On Thursday, the Florida House passed a comprehensive $1.4 billion tax package, which includes a long list of benefits for consumers and businesses. This relief package, which is now heading to the Senate for final approval, provides over $200 million
The Florida legislative body, has passed a tax relief package worth 1.4 billion dollars Read More »
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
Supreme Court Ruling Favors Taxpayers on FBAR Penalties Read More »
If you are looking for a full service CPA firm or an Accountant in Coral Springs, Parkland, South Florida, you have come to the right place.
CPA Tax Services Near you!!
Mon-Fri: 9:00 – 18:00 EST
