by KWC CPAs | Feb 28, 2025 | Accounting
Although 2024 is in the review mirror, you may still be able to take actions in early 2025 to lower last year’s federal income tax bill. Here are five ideas to consider. 1. Make a Deductible HSA Contribution If you had qualifying high-deductible health insurance...
by KWC CPAs | Feb 26, 2025 | Accounting
529 Plan Overview A 529 plan, also known as a Qualified Tuition Program (QTP), is a tax-advantaged savings plan designed to encourage saving for future education costs. Those plans typically offers tax free growth, and sometimes the contribution can be deducted for...
by KWC CPAs | Feb 20, 2025 | Accounting
Current deadline to file BOI report: Businesses formed prior to 1/1/2024: 3/21/2025 Businesses formed after 1/1/2024: 30 days after formation The beneficial ownership information (BOI) filing was mandated by the Corporate Transparency Act (CTA) and impacts millions...
by KWC CPAs | Feb 13, 2025 | Accounting
Internal Revenue Code Section 179 potentially allows significant first-year depreciation deductions when your business places qualifying assets into service. You generally want to maximize current year depreciation write-offs for newly acquired business assets....
by KWC CPAs | Jan 17, 2025 | Accounting
KWC is proud to announce that the firm was named as one of the 2025 Best Places to Work in Virginia. The firm is a repeat winner of the award, based on satisfaction surveys completed by our employees. The annual list of the Best Places to Work in Virginia was created...
