Insights
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.
Topic
The Supreme Court's ruling in Moore v. United States could reshape Congress' authorization to tax income.
A goal of estate planning is to maximize the wealth that is passed on to one's heirs. In this video, we'll discuss how a Spousal Lifetime Access Trust and an Irrevocable Life Insurance Trust may help you minimize estate taxes and protect wealth.
The Internal Revenue Service (IRS) has established guidelines concerning the withdrawal of an Employee Retention Credit (ERC) claim for those employers who now believe they may not qualify. These guidelines, detailed on the IRS's official website, outline the necessary steps a taxpayer must take to withdraw a claim for the ERC, under certain conditions.
On September 14, 2023, the IRS made two major press releases regarding the Employee Retention Credit (ERC). This article summarizes significant points from those releases.
The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
For any business, understanding and effectively managing the cost of customer acquisition is crucial for success. In this video, we'll explain what it is, how it's calculated, and how it affects a business's profitability, cash flow, and overall growth.
The Internal Revenue Service (IRS) has recently released guidance on Roth catch-up contributions under SECURE 2.0 Act. This guidance, outlined in Notice 2023-62, provides important information for individuals who are age 50 or older and participating in a retirement plan that allows deferral contributions.
New requirements effective January 1, 2024 mandate electronic filing of Form 8300 to report $10,000 cash transactions
This edition was updated to add new guidance on loan modifications, reflect the adoption of the CECL and leases standards, and more.
After selling a business, it is crucial to update your estate plan to align with your new financial situation. This article provides and overview of common strategies to consider.
This article discusses estate planning and tax considerations after the sale of a business interest or other liquidity event, including common strategies to reduce estate tax and meet charitable giving goals.
The Corporate Transparency Act will require most businesses to provide beneficial ownership information to the U.S. Department of Treasury to combat money laundering. Find out who needs to report, what information is required, and when the reports must be submitted.
A proposed update would require disclosing compensation, depreciation and inventory costs within income statement line items.
The IRS has released additional guidance on ERC claims basing credit eligibility on supply chain disruptions. In a Generic Legal Advice Memorandum (GLAM) and IRS Notice, the IRS explores various scenarios and clarifies the requirements for employers to substantiate their claims.
A recent IRS Notice provides essential guidance on required minimum distributions (RMDs) under SECURE 2.0. This article reviews that Notice and provides insights into the updated rules and deadlines for RMDs, helping taxpayers navigate the ever-changing landscape of retirement planning and compliance with IRS regulations.