The IRS has delayed the new $600 Form 1099-K reporting threshold for third-party settlement organizations for calendar year 2023. Reporting will not be required for 2023 unless the taxpayer receives…
In this crazy, hectic world we are living in, one in which we see infighting, chaos, shootings, war, and hatred and bickering all around us, your friends here at KN+S…
As the year draws to a close, let’s dive into some strategies for individual year-end tax plannings. Effective January 1, 2023, Massachusetts short-term capital gain tax rate is reduced to…
Effective in June of 2023, Carta changed the way that certain valuation reports are being presented, and in some cases the valuation reports state that the 409A valuation performed by…
On October 4th, 2023, a new Massachusetts tax act was signed into law by Governor Maura Healey. The $1 billion tax package will impact both businesses and individuals with changes…
FinCEN has released a Small Entity Compliance Guide to assist businesses with the new rules for the Beneficial Ownership Information (BOI) reporting requirements effective January 1, 2024. We urge you…
Delayed and Deferred 401(k) changes. The Congress in SECURE 2.0 (pension and IRA changes) mandated that for employees participating in 401(k) deferrals in their employers plans and contributing “make up”…
Stock options are financial derivatives that provide individuals, typically employees of a company, with the right to purchase a specific number of company shares at a predetermined price (known as…
All too often, an entrepreneur walks in our office and I am able to “blow his/her mind.” The reason? Quite simply, it is a tax provision that allows certain qualifying…
Profit interests are a special class of equity awarded by a partnership or Limited Liability Company (“LLC”) to its employees. This type of award generally allows employees to share in…