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February 2024 Newsletter

February 2024 Newsletter

We look forward to the opportunity to work with our clients again this tax season!!
From partnerships to side gigs, who really owes self-employment taxes?

From partnerships to side gigs, who really owes self-employment taxes?

Explore the impact of a recent legal shift that broadens the scope of self-employment taxes, including limited partners and gig workers. Learn ...
Self-employed? Here’s how to pick between a SEP IRA and Solo 401(k) for your retirement

Self-employed? Here’s how to pick between a SEP IRA and Solo 401(k) for your retirement

Explore two popular retirement plans, SEP IRA and Solo 401(k), for the self-employed in this overview, focusing on their benefits, drawbacks, ...
Financial analysis of leasing vs. purchasing a vehicle

Financial analysis of leasing vs. purchasing a vehicle

Understanding the financial differences between leasing and purchasing a vehicle can save you a significant amount of money. This article ...
Understanding the Backdoor Roth IRA

Understanding the Backdoor Roth IRA

Are you a high-income earner seeking ways to optimize your retirement savings? Get a full grasp of how the Backdoor Roth IRA can be an effective ...
January 2024 Newsletter

January 2024 Newsletter

Please be aware that the filing deadline for all Federal W-2s is January 31, 2024. Please make an effort to distribute these forms to employees ...
New IRS Regulations Increase Electronic Filing Requirements For Forms W-2 and 1099

New IRS Regulations Increase Electronic Filing Requirements For Forms W-2 and 1099

The IRS has released new regulations expanding mandatory electronic filing requirements, affecting businesses and individuals filing 10 or more ...
Early retirement withdrawals: avoiding the 10% penalty

Early retirement withdrawals: avoiding the 10% penalty

Uncover potential circumstances under which you can tap into your retirement savings early without facing hefty penalties. From qualifying plan ...
IRS announces 2024 standard mileage rates

IRS announces 2024 standard mileage rates

The IRS has announced the 2024 Standard Mileage Rates. Understand how these rates will affect your deductions for business, medical, moving, or ...
IRS Opens ERC Voluntary Disclosure Program

IRS Opens ERC Voluntary Disclosure Program

If you're a business owner who mistakenly claimed the Employee Retention Credit, find out how the new IRS Voluntary Disclosure Program can help ...
December 2023 Newsletter

December 2023 Newsletter

The KL team would like to wish you all the happiest of holidays, good cheer and a wonderful New Year! We recently celebrated at our annual ...
Corporate Transparency Act/Beneficial Ownership Information Reporting

Corporate Transparency Act/Beneficial Ownership Information Reporting

“Explore how the Corporate Transparency Act reshapes the landscape of beneficial ownership reporting. Uncover the implications and obligations ...
Tax, Retirement, and Social Security changes for 2024

Tax, Retirement, and Social Security changes for 2024

Are you prepared for the tax, retirement, and Social Security changes coming in 2024? Stay ahead with our expert insights and start planning ...
November 2023 Newsletter

November 2023 Newsletter

The KL team enjoyed a fun night out in appreciation of our staff’s efforts in 2023. Thank you to all of our clients for allowing us to serve you!
Two Estate Planning Strategies to Help Protect Wealth

Two Estate Planning Strategies to Help Protect Wealth

A goal of estate planning is to maximize the wealth that is passed on to one's heirs. In this video, we'll discuss how a Spousal Lifetime Access ...