Teresa Jack Teresa became part of KEB in December 2018, assuming the role of Administrative Assistant. Outside of her professional endeavors, Teresa cherishes moments with her daughter, Emily, who currently resides in Fenton, MO, alongside her husband, Dalton. An ardent enthusiast of Disney World, Teresa makes it a tradition to embark on annual Spring and […]

Gift and estate taxes are both part of the federal transfer tax system and are interconnected. Gift tax applies to transfers of wealth during a person’s lifetime. If a person gives another person a gift that exceeds the annual gift tax exclusion ($17,000 in 2023), the giver (also referred to as the donor) may have […]

As a business owner, understanding the value of your company is crucial for various scenarios, from transactions to tax reporting, financial reporting, and even potential litigation. In this comprehensive guide, we’ll address ten commonly asked questions about business valuations, providing you with the knowledge you need to navigate this important aspect of business ownership. Why […]

The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts have tax implications and can even provide a variety of tax benefits. But be wary; during the holiday season, you may receive phone calls, texts, emails, snail mail, or appeals on social networking sites […]

By: Steven Dumstorff and Chris Nelson The fall and year end always seem to come faster and faster each year.  While there are always new strategies to consider, the usual tactics of deferring income and increasing current deductions still apply for 2023.  Preserving equity and working capital in the form of reduced tax outflows frees […]

Angie Hayes Angie joined KEB in 1989. Over the past year, Angie transitioned to a three-day-per-week role within the Admin team, departing from her previous full-time position as an Office Manager. Her current responsibilities focus on optimizing administrative functions across various industries, contributing to the overall operational efficiency at the firm.  What’s the farthest you’ve […]

Have you been thinking of making home improvements? If so, and they include energy-saving improvements, you may qualify for some substantial income tax credits. Even if home improvements aren’t currently on your to-do list, with the increasing cost of energy you may find that energy-saving home improvements, along with the tax credits that accompany them, […]

As an employer or an employee one intricacy of tax laws and regulations that often goes unnoticed is the concept of Accountable Plans. These plans, when implemented correctly, can provide significant tax benefits for both employers and employees. Under the Tax Cuts and Jobs Act (TCJA) signed into law by President Trump in 2017, the […]

Despite warnings from the IRS, the American Institute of CPAs, and other professional tax preparer societies, many business owners have fallen victim to aggressive marketing of the Employee Retention Credit (ERC) by marketers or promoters into filing ineligible claims. As part of a larger effort to protect small businesses and organizations from scams, the IRS […]

The Importance of Business Succession Planning Every business – large and small – needs a business succession plan. Just like Warren Buffett and Jeff Bezos prepared for the day that they would step away from the C-suite, every small and mid-sized business owner should plan ahead so that the transfer of the leadership and/or ownership […]