Accelerating deductions to save taxes
Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. When you don’t expect to be subject to the alternative minimum tax (AMT) in the current year, accelerating deductible expenses into the current year typically is a good idea.
Will the lame-duck Congress revive expired tax breaks for 2014?
With the midterm elections now behind us and control of the U.S. Senate set to shift parties in January, it’s time to revisit the valuable tax breaks that expired at the end of 2013. Will the lame-duck 113th Congress revive any of them for 2014?
On September 13, 2013, the Internal Revenue Service released regulations on expenditures related to tangible property that will affect any business that purchases items of tangible property.
How higher-bracket taxpayers can take advantage of the 0% long-term capital gains rate
The long-term capital gains rate is 0% for gain that would be taxed at 10% or 15% based on the taxpayer’s ordinary-income rate. If you have loved ones in the 0% bracket, you may be able to take advantage of it by transferring appreciated assets to them.
Timing business income and expenses to your tax advantage
Typically, it’s better to defer tax. Here are two timing strategies that can help businesses do this: Defer income to next year. If your business uses the cash method of accounting, you can defer billing for your products or services.
Earl Edeburn, KDV Partner, brings us to his family cabin and discusses what KDV can do for our clients' core business functions.
Angie Thomas, KDV Insurance Advisor, discusses how a long term insurance solution may help you manage your risk.
Tim Ernst, KDV ERP Practice Group Leader, discusses how a highly customizable cloud ERP solution can streamline your operations.
Matt Mayer, KDV Government Audit Partner, discusses his love for traveling and the passion KDV has for working with our audit clients.