by KLPCPA | Feb 3, 2020 | Uncategorized
Call Now Setup an Appointment Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. How...
by KLPCPA | Oct 1, 2018 | Small Business, Taxes, Uncategorized
Businesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a cost segregation study. It may allow you to accelerate depreciation deductions, thus reducing taxes and boosting cash flow. And the potential...
by KLPCPA | Mar 12, 2018 | Uncategorized
Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be...
by KLPCPA | Mar 24, 2017 | Uncategorized
I’m not sure there was any Republican running for office in 2016 that didn’t promise to repeal, replace, or alter the Affordable Care Act. Assuming this comes to fruition there is a long list of tax code provisions that could be eliminated or changed to some degree....
by KLPCPA | May 27, 2015 | Uncategorized
Most students hold a summer job when they are out of school for the summer. We are going to give you a few tips to avoid tax problems at the end of the year. Complete a W-4 when you start a new job. A W-4 is used by employers to determine the amount of taxes that need...
by KLPCPA | May 8, 2015 | Uncategorized
Every manufacturing or construction operation is a little different and that uniqueness is typically tied to inventory. Our experience here at KLP will help you answer important questions and chart the right course for your business. How do you measure the costs...
CARES Act made changes to excess business losses
The possible tax consequences of PPP loans
File cash transaction reports for your business — on paper or electronically
Why do partners sometimes report more income on tax returns than they receive in cash?
Even if no money changes hands, bartering is a taxable transaction