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
For over five decades, American families have diligently saved for their children's education through 529 college savings plans, accumulating more than $400 billion in assets. Yet a quiet revolution is reshaping how families think about these accounts. Recent legislative changes have unlocked an unprecedented opportunity to transform unused education funds into powerful wealth transfer vehicles that can benefit multiple generations.
Discover how partnership types, tax rules, and partner roles impact business structure, liability, and IRS compliance.
The One Big Beautiful Bill Act has permanently raised the federal estate tax exemption, offering a secure $15 million threshold for individuals. This change transforms estate planning strategies, providing long-term certainty and flexibility in wealth transfer through gifting, trusts, and charitable contributions. Discover how these updates can shape your financial legacy.
Learn more about some of the factors a business should consider in amending for the change in Section 174.
If you're shopping for a new car, there's a limited-time tax break that could save you thousands of dollars. However, there's a specific window of time, the rules are strict, and you must act strategically to make it work. Watch our video to learn more.
Discover how disregarded entities can simplify taxation while offering liability protection crucial for entrepreneurs. Learn the nuances of single-member LLCs, explore their tax implications, and uncover best practices to avoid common pitfalls. This guide is essential for anyone seeking a streamlined business structure with robust legal and tax benefits.
Understanding Section 754 elections is crucial for maximizing tax benefits in real estate partnerships. This article delves into how this complex IRC provision can align the inside and outside basis, offering potential for reduced taxes through strategic depreciation and amortization. Explore the advantages, challenges, and compliance considerations that can shape a partnership’s tax strategy.
When preparing to sell your business, you're likely focused on tangible assets like equipment, inventory, and cash flow. But there's a hidden asset that could significantly boost your sale price while dramatically reducing your tax burden: personal goodwill. This often-overlooked component of business valuation represents the intangible value tied directly to your individual reputation, skills, and relationships. When properly identified and structured, personal goodwill can provide substantial tax advantages through single-level taxation and capital gains treatment, while giving you powerful negotiation leverage in M&A transactions. Discover how to unlock this hidden value and transform your exit strategy.
Discover key tax changes for dentists under the OBBB, including expanded deductions, the SALT cap, and new planning strategies for 2025.
Discover key tax changes for dentists under the OBBB, including expanded deductions, the SALT cap, and new planning strategies for 2025.
RSM explains how the Big Beautiful Bill affects health care tax planning and compliance. Learn more.
As we delve into the ever-evolving world of financial legislation, this article offers a comprehensive look into the One Big Beautiful Bill (OBBB), set to take effect on July 4, 2025, and its implications for the manufacturing and technology sectors. It particularly focuses on the enhancements to the Qualified Small Business Stock (QSBS), a move designed to incentivize investments in these sectors by offering considerable tax savings.
As U.S. manufacturing cautiously navigates the second half of 2025, the sector is seeing a modest production rebound amid persistent headwinds. Orders remain soft, hiring is sluggish, and rising input costs—especially in steel, copper, and natural gas—are squeezing margins. With the Manufacturing PMI still in contraction territory and inventories outpacing new orders, businesses are urged to double down on lean operations, margin management, and agile supply chain strategies. This quarter’s insights underscore the importance of forward-buying, renegotiating supplier terms, and maintaining tight control over capital investments to weather the evolving economic landscape.
President Trump’s recently signed One Big Beautiful Bill (OBBB) introduces a major tax reform that allows individuals to deduct qualified tips and overtime pay from their federal income taxes between 2025 and 2028. This change is especially impactful for workers in hospitality, retail, and construction. The deductions apply even if taxpayers don’t itemize, though income limits and joint filing rules apply. Businesses must now track and report these payments carefully, as the IRS is expected to issue further guidance within 90 days. Both employers and employees are encouraged to prepare early to maximize these benefits.
Maximizing the expanded QSBS benefit while avoiding missteps.
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