Summer Days at a CPA firm – KN+S
We hope you are enjoying this fine summer weather and getting outside with friends and family. Summer is by far my favorite season of the year, and it is also…
Relief for Missed RMDs (Required Minimum Distributions) on Inherited Pension and IRA Accounts
The IRS is behind in providing the rules for when and how distributions must be taken from retirement accounts for those who died in 2020 through 2022. After amendments by…
An Overview of Individual Tax Return Filing Status
Your filing status is one of the most impactful items you report on your individual tax return. It affects the rates at which your income is taxed, the amounts of…
Due Diligence Traps to Avoid
The key to having a successful due diligence process, whether for an actual exit or just a fundraising event, is to be well prepared ahead of time and to look…
The Inflation Reduction Act of 2022 – A Quick Overview
With much fanfare, this act was pushed through under the reconciliation provisions and signed by the President. A few of the hyped provisions (sound and fury signifying nothing): A 15%…
MA Securities Companies and Why VC-Backed Companies Should Consider Forming Them
For C Corporations operating in Massachusetts, not only do they face a potential state income tax, but an obscure tax that taxes the “net worth” of the Company. As a…
Summertime, and the Living is, Well, Pretty Easy…
Welcome to the mid-summer days and heat of summer. We hope this finds you on a beach somewhere enjoying the cool breezes off the water and that you are reading…
Kiddie Tax: Potential Tax on Unearned Income for Children
For centuries, individuals have looked for ways to pay little to no income taxes. The methods for avoiding income taxes may be more complex today because the IRS has a…
(Sales Tax) Relief is on the Way!
Under Massachusetts Legislation making the Sales Tax Holiday permanent, the MA Department of Revenue has set the dates for the 2022 event as August 13th and 14th. If you plan…
SECURE Act Summary for Traditional and ROTH IRA Bequests
Congress added the SECURE Act to the panoply of tax laws (Setting Every Community Up for Retirement Enhancement Act for 2019). In addition to resetting the age for initial RMDs…