by KWC CPAs | Apr 16, 2024 | Accounting
If you’re in line to receive a significant inheritance, your feelings may range from exhilaration to relief, not to mention a great deal of sadness for the loved one who has passed. Indeed, a large infusion of cash or assets can be overwhelming. Generally, when...
by KWC CPAs | Apr 12, 2024 | Accounting
For years, the tax code has offered an incentive for employers to provide child care to their employees in the form of the Section 45F child care tax credit. But the credit is rarely claimed, according to the Congressional Research Service. Employers that qualify for...
by KWC CPAs | Apr 5, 2024 | Accounting
The general business credit (GBC) may help certain small businesses cut their federal income tax obligations significantly. This is an “umbrella” credit that encompasses various business-related credits, which are far more valuable than tax deductions....
by KWC CPAs | Mar 27, 2024 | Accounting
Once you’re married, you have two options when it comes to filing your annual federal income tax return — married filing jointly or married filing separately. While some couples may find it more tax-efficient to file separately, joint filing often is more...
by KWC CPAs | Jan 31, 2024 | Accounting
Effective January 1, 2024, U.S. and foreign entities doing business in the U.S. may be required to disclose information regarding their beneficial owners to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). This requirement is being...
by KWC CPAs | Jan 31, 2024 | Accounting
Introduction Processing 1099 forms is a critical task for businesses, but it’s often marred by inefficiencies that can lead to significant delays. This blog explores practical strategies to mitigate common issues that slow down 1099 processing. By understanding...
