Insights Gallery
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May 2023 Newsletter
We sincerely appreciates the opportunity to serve our clients during this tax and audit season.
The looming debt ceiling crisis
As the U.S. approaches the debt ceiling deadline, the implications of not raising it grow more severe. This article delves into the potential ...
Tips for Raising Financially Literate Young Adults
Parenting comes with many responsibilities, which include teaching children how to budget, save money, and make responsible financial ...
Business Travel Expenses: Per Diem vs Actual Expenses
If your employees travel for work purposes, it’s important to understand the various methods of tracking and substantiating travel expenses so ...
Employment agreements are under fire: here’s what employers need to know
Employers must protect their interests when employees leave or join their company, but the use of non-compete agreements and similar contracts ...
Navigating trust taxation: strategies and insights
Trusts are an essential tool for estate planning, but their tax implications can be confusing. Understand the differences between revocable and ...
Deductible medical expenses: IRS guidance on nutrition, wellness, and health expense claims
Confused about which nutrition, wellness, and general health expenses may be considered medical expenses? The IRS has published a series of FAQs ...
IRS Dirty Dozen Top Tax Scams To Avoid
Each year, the Internal Revenue Service publishes its annual Dirty Dozen list of tax scams highlighting various schemes that put taxpayers and ...
April 2023 Newsletter
We sincerely appreciates the opportunity to serve our clients during this tax and audit season.
Options when you are unable to pay your tax bill
Tax season is upon us again, and this time of year can be stressful for many taxpayers. Not only do you have to gather all your financial ...
How to measure and manage your company’s working capital
Effective working capital management can make all the difference between success and failure in the business world. Learn how to measure and ...
R&E Expense Amortization Got You Down?
Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions ...
Understanding Sole Proprietorships, Single-Member LLCs, and the Schedule C
If you earn income as a freelancer, independent contractor, or from a side gig, you'll likely do so as a sole proprietor or single-member LLC ...
March 2023 Newsletter
The KL team has been working very hard this busy season & recently enjoyed some treats!
Why adding children to your bank account or home deed could be a bad idea
Adding your kids to your bank account or home deed can create a host of legal, financial, and tax issues that can leave you and your loved ones ...