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Business taxes
Like many states, Kentucky is experiencing another year of robust budget surpluses while projecting several years of continued revenue growth, and policymakers are looking for ways to return some of the extra tax collections to taxpayers as they budget for the upcoming fiscal biennium. With regular legislative proceedings winding down, the House and Senate (both...
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Powell: Larger interest rate hikes on the table. Fed Chair Jay Powell said yesterday the central bank could raise rates by greater incremental steps than the quarter-point increases the Fed kicked off last week. “We will take the necessary steps to ensure a return to price stability,” Powell told a business conference. His goal: a...
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Most people don’t think about taxes on their way to a racetrack or casino, but what might seem like nothing more than the chance to win some extra money actually has some tax implications. As is often the case, federal and state governments single out casino winnings for unique taxes of their own.  How Much...
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It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. Filing deadlines First off, the deadline to file individual tax returns is April 18. Other deadlines are:January 17, 2022: 4th quarter 2021 estimated tax payment dueMarch 15,...
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WASHINGTON, DC – APRIL 10: U.S. Supreme Court Justice Judge Neil Gorsuch speaks as President Donald … [+] Trump looks on during a ceremony in the Rose Garden at the White House April 10, 2017 in Washington, DC. Earlier in the day Gorsuch, 49, was sworn in as the 113th Associate Justice in a private...
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The Internal Revenue Service (IRS) has released data on individual income taxes for tax year 2019, showing the number of taxpayers, adjusted gross income, income tax paid, and income tax shares by income percentiles.[1] The new data outlines the tax system under the second year of the Tax Cuts and Jobs Act (TCJA), the last...
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Breaking up and starting over? The White House and Senate Democrats want to revive talks on President Biden’s Build Back Better (BBB) agenda for climate and social spending. In a press conference last week, Biden acknowledged that the massive bill would likely need to be broken up. West Virginia Sen. Manchin wants a “clean sheet...
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You’ve just stepped into the world of entrepreneurship. Whether you opened your own online boutique, began freelancing your graphic design skills, or drove for a ride-share company, you have a variety of tax implications to consider – and some of them can slim down your tax bill. Before learning about the ins and outs of...
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Filing your taxes for the first time can be intimidating. There’s a good chance you’ve heard people complain about having to file their taxes in the past, so it’s normal to be feeling a little apprehensive. But don’t stress! Filing taxes for the first time isn’t nearly as complicated as you might think. Most first-time...
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Like all healthy relationships, strategic partnerships thrive through give and take. By contributing skills and resources their business partner lacks, both parties expand their overall ability to create value. For many accounting firms, this could lead to new services being delivered or access to alternative market segments — both vital at a time when average...
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