KERNUTT STOKES BLOG
The Biden Administration recently released its budget for the fiscal year 2022, and the document contains many significant potential changes to the country’s tax laws. This article will focus on Biden’s proposed changes to the income tax on capital gain. The headline on capital gain reform is, of course, the rate.
Most real estate investors are familiar with section 1031 exchanges, and by now, most of these investors have also likely been informed that the Tax Cuts and Jobs Act, passed at the end of 2017, limited the application of that section to exchanges of “real property.”
Over the past year, the COVID-19 pandemic has redefined “normal” in almost every aspect of our lives, including our work lives. How do we maintain our company culture in this new type of work environment? And what are the keys to staying socially connected even when we have to be physically distant?
Well, it is that time of year again, and if you are not already deep in audit requests, you will be soon. As you get ready, it is always good practice to evaluate how to improve the audit process as well as your overall experience and that of your staff. We have found the following three tips to be key to a successful audit each year.
The passage of the CARES Act in March 2020 included the Employee Retention Tax Credit (ERTC) that most employers were unable to take due to limitations inherent in the qualifications to take it.
This article discusses some of the basics that you can capitalize on to ensure that the succession of your business is as easy and efficient as possible. Be sure to check out this link for more details!
By Matthew Diment, Senior Manager With the end of the year quickly approaching, now is the time for any last-minute planning to reduce taxable income for the year and plan for 2020 and 2021 taxes. As a reminder, any loan forgiveness under the Paycheck Protection...
This article discusses how the coronavirus pandemic has impacted the national economy, and in particular, family enterprises.
This article discusses a rare opportunity that the Tax Cuts and Jobs Act have produced for investors in the United States. Be sure to check out this article for more details surrounding the opportunity zones qualifications needed!
On Friday, August 28, the Internal Revenue Service (IRS) released Notice 2020-65, which offers guidance regarding the implementation of the Presidential Memorandum on the deferment of some payroll taxes. For further details, click here to read the IRS release in full.
This article discusses how the coronavirus pandemic is impacting a number of industries in multiple ways. No matter your industry, being aware of these trends and how they will impact businesses on a day-to-day basis will provide a competitive edge during this unstable time.
This article discusses some accounting tips that your small business should consider following in order to become more efficient. There are many details business owners must consider, managing your accounting practices early on will allow you to focus on the work of growing your business.