Not everything in the accounting and financial world is black and white. Much is left to interpretation coupled with experience. At KHA, we know our clients value our perspective and guidance. We therefore not only see it as our duty to share regulatory updates, but also our commitment to share our insights on matters that impact you, our clients.
The Internal Revenue Service (IRS) has released its yearly update to the revenue procedure controlling the implementation of accounting method changes, which may impact many taxpayers. The updated Rev. Proc. 2023-24, includes changes related to depreciation and R&D expenses, among other items.
The IRS and Treasury Department have recently released guidance on the monetizing energy credits for businesses. This guidance provides clarity on the process of claiming and monetizing these credits, which can provide significant financial benefits for companies that invest in renewable energy sources.
From financial institutions to car dealerships, MFA is becoming a requirement for companies across industries. This article outlines the expanding use cases for MFA, the different features and functionalities of various MFA solutions, and the need for a holistic security strategy.
If your employees travel for work purposes, it’s important to understand the various methods of tracking and substantiating travel expenses so that you can maintain accurate records, control costs, and take advantage of potential tax benefits. Watch this video to learn about business travel expenses, per diem allowances, and how they affect employees and employers.
A revocable living trust, or RLT, offers many benefits, including probate avoidance, privacy, and flexibility in managing assets during one’s life, incapacity, and death. However, despite their popularity as an estate planning tool, there are many misconceptions surrounding revocable trusts that lead to confusion and misunderstandings. Watch this video to learn about the top six misconceptions.
Each year, the Internal Revenue Service publishes its annual Dirty Dozen list of tax scams highlighting various schemes that put taxpayers and their financial well-being at risk. In this video, we'll provide an overview of five of the top scams on the list.
IRAs are an important tool for many individuals when it comes to managing their long-term financial goals. IRAs are generally considered investment vehicles that are exempt from tax, but this may not always be the case.