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
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.
The Financial Accounting Standards Board recently issued a proposed Accounting Standards Update for Leases (Topic 842). The update addresses related-party arrangements between entities under common control. This video provides an overview of the proposed changes.
The FASB and IASB have provided standards for properly recognizing revenue in your financials. Using a five step process, companies recognize revenue based on the value and timing of when control of the goods and services are transferred to the customer. Learn about the standards and how to properly recognize revenue for your company.
President Biden announced a plan to extend the pause on student loan repayments and offer student loan forgiveness to millions of borrowers. Under the Student Loan Debt Relief Plan, eligible borrowers will have up to $20,000 of their student loans forgiven. Watch this video to learn more about the program.
You have mapped out your estate plan and feel confident in its estate tax efficiency. However, it is important to consider the income tax ramifications of each decision throughout the planning process to avoid unintended consequences.
While most companies expense the cost of research and development activities, most fail to take advantage of the R&D tax credit. Learn how the tax credit works and what expenses qualify for it.
For many teenagers, summer often means a time for sports camps, swimming in the pool, and working a summer job. For many parents, this means dealing with the tax implications of their child’s income. In this article, we'll provide an overview of what tax filings may be required for your working teenager.
Many wealthy individuals have taken steps to maximize their lifetime gift tax exemption before it reverts back to a lower level in 2026. However, the IRS recently proposed new guidance that would allow for clawbacks of certain gifted assets. Learn more about the proposed changes in this article.
The IRS recently released new contribution limits for 2023 health savings accounts and excepted benefit health reimbursement arrangements and new requirements for qualifying high deductible health plans to reflect cost of living adjustments. Learn about the new limits and requirements in this article.
In February of 2022, the IRS and Treasury released proposed regulations that provide updated guidance for the SECURE Act of 2019, including significant changes for beneficiaries of inherited IRAs and 401(k) plans.
The business world is consolidating rapidly and companies of all sizes are looking to increase their size, power, and efficiency through merger and acquisition (M&A) activity. Learn how a merger or acquisition may help your company grow quickly and efficiently.
Estate planning enables you to specify what happens with your assets after death or incapacitation. While every situation is unique, individuals ...
Should I convert my retirement plan to a Roth IRA? It's an important question worth considering.
Roth vs. Traditional: What's the ...
A great way to reduce taxable income while saving for the future is by contributing to an Individual Retirement Account. Learn about IRAs including the deadline to contribute, limits and tax deductibility.
February 16, 2022 – The IRS has updated guidance on additional exceptions to the new K-2 and K-3 filing requirements. See FAQ #15 found here.
In ...