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
![IRAs are subject to the unrelated business income tax](https://kha.cpa/wp-content/uploads/2023/05/KHA-Feature-Internal-Revenue-Service-IRS-Bldg-234-1024x576.png)
Individual Retirement Accounts (IRAs) described in section 408 are subject to the unrelated business income tax (UBIT) to the extent their gross unrelated business taxable income (UBTI) exceeds $1,000. IRA fiduciaries generally have the responsibility of filing Form 990-T, Exempt Organization Business Income Tax Return, but the tax liability belongs to the IRA.
![Keeton decision: U.S. Tax Court denies a bad debt deduction – Treats advances as equity and not debt](https://kha.cpa/wp-content/uploads/2023/03/KHA-Feature-pexels-photo-1000740-990-1024x576.png)
Keeton decision: U.S. Tax Court denies a bad debt deduction – Treats advances as equity and not debt
In Keeton v. Commissioner the Tax Court denied the taxpayer a bad debt deduction saying it failed to have records proving the debt.
![Section 83(b) considerations for employees receiving stock compensation](https://kha.cpa/wp-content/uploads/2023/03/KHA-Feature-Internal-Revenue-Service-IRS-Building-389-1024x576.png)
When employers pay employees with property or stock, rather than cash, special rules under section 83 apply.
![What does SECURE 2.0 mean for small employers?](https://kha.cpa/wp-content/uploads/2023/03/KHA-Feature-small-employers-card-1024x576.png)
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
![Ten quick reminders for FTC](https://kha.cpa/wp-content/uploads/2023/03/KHA-Feature-Internal-Revenue-Service-IRS-Building-453-1024x576.png)
Recent FTC guidance and delayed TCJA provisions will likely impact a taxpayer’s ability to take an FTC going forward. Start analyzing the impact now.
![White House releases Fiscal Year 2024 Budget including tax revenue proposals](https://kha.cpa/wp-content/uploads/2023/03/KHA-Feature-Internal-Revenue-Service-IRS-Building-26-1024x576.png)
Administration releases Fiscal Year 2024 Budget and Greenbook explanation of tax proposals. Expectations are light for proposals to move forward in Congress.
![Appellate Court affirms Little Sandy](https://kha.cpa/wp-content/uploads/2023/03/KHA-Feature-Columns-lower-view-122-1024x576.png)
The US Court of Appeals for the Seventh Circuit affirmed a 2021 US Tax Court ruling in Little Sandy, although it diverged from some of the Tax Court's reasoning.
![R&E Expense Amortization Got You Down?](https://kha.cpa/wp-content/uploads/2023/02/KHA-FeatureImage-Desk-05-617-1024x576.png)
Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three opportunities to potentially accelerate depreciation and reduce your tax liability.
![R&D continues its losing streak in court](https://kha.cpa/wp-content/uploads/2023/02/KHA-Feature-Internal-Revenue-Service-IRS-Building-858-1024x576.png)
IRS continues to win cases challenging the research and development (R&D) credit. Specificity and supporting documentation remain tantamount to sustaining R&D credits.
![Retirement plan changes for long-term, part-time employees](https://kha.cpa/wp-content/uploads/2023/02/KHA-Feature-mployees-transp-Green-1024x576.png)
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
![Required minimum distributions after SECURE 2.0](https://kha.cpa/wp-content/uploads/2023/02/KHA-Feature-fter-secure-card-Gray-1024x576.png)
SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
![A total rewards approach to executive compensation](https://kha.cpa/wp-content/uploads/2023/02/KHA-Feature-Businessman-in-conference-room-355-1024x576.png)
Total rewards programs attract, reward, motivate and retain the executive talent necessary to achieve your company’s goals.
![Income tax provision considerations for financial statement preparers](https://kha.cpa/wp-content/uploads/2023/02/KHA-Feature-Bright-window-modern-building-757-1024x576.png)
Financial statement preparers should consider the impact of new tax laws and regulations on income tax calculations and disclosures in their 2022 financial statements.
![Tax Court permits limited energy tax deduction for engineering firm](https://kha.cpa/wp-content/uploads/2023/02/KHA-Feature-Internal-Revenue-Service-IRS-Building-75-1024x576.png)
The Tax Court held that section 179D does not require a subjective intent to meet energy savings targets.
![Cautionary tale: Owner personally liable for sales tax](https://kha.cpa/wp-content/uploads/2023/01/KHA-Feature-al_insight_card-Green-1024x576.png)
A New York administrative law judge found an owner to be a responsible person and personally liable for unpaid sales and use taxes.