Running a business from home can help you lower your income tax bill
If you use part of your home for business, you might be able to deduct home business expenses. You must meet some requirements per IRS
IRS raises HSA limits for 2023 amid soaring inflation
The Internal Revenue Service issued its annual inflation-adjusted amounts Friday for health savings accounts next year as the inflation rate surged to the highest level
Tax tips for U.S. crypto investors
According to the Pew Research Center, 16% of U.S. adults now say they have invested in, traded or otherwise used cryptocurrencies. “For years people almost
2022 Tax Topics by KB CPA Services P.A.
Due to tax law changes, individuals and businesses face significant uncertainty. It’s important to manage any changes so that you are best positioned for success
The new 2020 higher Estate and Gift tax threshold will allow married couples to pass on $720,000 more Tax Free
The federal estate and gift tax exemption is set to climb to $12.06 million per individual for deaths occurring in 2022, up from $11.7 million
Latest tax plan targets, the hunt for cash to fund social spending agenda!
Democrats have leaned into the wallets of the wealthy in their demand for cash to fund an outsized social spending agenda. The latest proposals could
Build Back Better Act – Highlights
The House of Representatives passed HR 5376, the Build Back Better Act, on Friday morning Nov 19, 2021, by 220-213 votes. The bill covers a
Crypto Taxes
The Internal Revenue Service (IRS) recently said it is in the process of mailing 10,000 educational letters to taxpayers it suspects owe government taxes on
U.S. Tax Compliance & Canadian Investments
Tax treatment of Canadian investments in the US can be complex. It can even be difficult to find a tax advisor (U.S. Tax Compliance) who
Employer Retention Credit (ERC), most recent update
Employer Retention Credit (ERC): The employee retention credit (“ERC”) was introduced and enacted as part of the CARES Act to provide a refundable payroll credit
The IRS 10 Year Statute of Limitation, things to know!
How long can the IRS collect back taxes? Generally, the Internal Revenue Service (IRS) has 10 years to collect unpaid tax debt. After that, the
Biden Tax Plan
There have been big changes in the tax law. However, such changes need to be enacted by Congress to become law and therefore any provisions