On January 19, 2024, the bill Tax Relief for American Families and Workers Act of 2024 was passed by the House Ways and Means Committee. The bill includes provisions for…
As the tax season approaches, we would like to express our gratitude for the opportunity to assist you with your tax preparation. To ensure a smooth and efficient process, we…
The I.R.S. has just announced that for 2024, a rate of $ 0.67/mile may be used to compensate employees for business travel in their personal vehicles. To qualify to use…
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”…