October 15th Deadline
Cheers to the end of tax season!
The 2025 tax filing season officially wrapped up on October 15th!
A huge thank you to our clients, colleagues, and friends for your continued trust and support. We’re grateful for the opportunity to serve you and proud of our team’s hard work and dedication in making this another successful tax season!
Happy Halloween!
From all of us at KL — have a fun, safe, and spooky Halloween!!
Join Our Team!
We are always interested in meeting highly qualified and motivated individuals to join our team. We offer a very competitive compensation and benefits package and a good work life balance environment.
If you're interested in exploring employment opportunities with our firm, please visit our job openings page on our website to apply or email Recruiting@kl.cpa
Featured Insights
New IRS per diem rates in effect as of October 1
The IRS has released its 2026-2027 special per diem rates for business travel, and the changes took effect October 1st. If your company reimburses employees for travel expenses, now is the time to update your rates, review your reimbursement policy, and ensure your expense systems reflect the latest IRS guidance before outdated rates create compliance problems. Read our latest article to learn what changed, what it means for your business, and what your finance team should do right now.
The pro-rata rule: the backdoor Roth IRA mistake that can create an unexpected tax bill
The backdoor Roth IRA strategy can trigger an unexpected tax bill if you overlook the pro-rata rule, which requires the IRS to treat all of your traditional IRA balances together when calculating how much of a conversion is taxable. A separate account, a prior 401(k) rollover, or even a year-end IRA balance you didn’t have at the time of conversion can all affect the result. Before contributing or converting, review your full IRA picture to avoid a costly surprise at tax time.
A new federal tax credit could help fund K-12 scholarships starting in 2027
Starting in 2027, a new federal tax credit will allow eligible taxpayers to reduce their tax liability dollar for dollar by making cash contributions to qualifying Scholarship Granting Organizations that fund K-12 education. Unlike a charitable deduction, this credit directly offsets what you owe, with individual credits of up to $1,700 per year and up to $3,400 for married couples filing jointly. If you support education-focused giving, now is the time to understand how this new credit interacts with existing state programs and your overall charitable strategy.