It is not uncommon to discover that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in more tax due or a refund, it should not be dismissed. Failing to report […]

While it’s true that every business is different from the next – and every entrepreneur will go on his or her own unique journey – there are still a few constants that we know to be true. The start-up phase, for example, is when you write a formal business plan. You secure financing, you select […]

To say that things are uncertain right now when it comes to the economy is, in all probability, a bit of an understatement. Inflation is at levels we haven’t seen in decades. Employment costs are rising across the board. Materials in a number of industries are more expensive than ever – if you can even […]

Samantha Moore has been part of the KEB team since 2022. She earned her bachelor’s degree from Southern Illinois University Carbondale (SIUC) in 2016. Eager to expand her knowledge and skills, she is currently pursuing a master’s degree, with an expected completion date in July 2023. Outside of her professional pursuits, Samantha’s imagination takes her […]

Two recently passed pieces of tax legislation have brought about several tax changes for 2023 that may affect you. The legislation includes the Inflation Reduction Act and the Secure 2.0 Act. Here is a condensed summary of those changes. Check over the list and see if any of the new rules apply to you. Required […]

If it seems like more and more employees are turning to freelance work these days, you’re not imagining things. According to one recent study, there are currently 73.3 million freelancers in the United States alone. The fast-paced mobile era that we’re now living in, coupled with the advent of the fabled “Gig Economy” and companies […]

Finding Balance Through Flexibility An Interview with Brooke Killion Work-life balance is always tricky, especially when you’re in the process of pursuing a big goal. Having the flexibility to customize your workload is critical when you’re trying to make room for everything you value in life.  We talked to Brooke Killion, Audit Senior in KEB’s […]

Article Highlights: Employees Tax Avoidance Form 1099-K Filing 1099s Correct Procedures W-2s, Payroll Taxes and Reporting Overtime Hourly Pay or Salary Separate Payrolls If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know […]

Article Highlights: Caring for Disabled Family Members Qualified Medicaid Waiver Payments Exclusion Qualifications Mandatory Exclusion Earned Income Earned Income Tax Credit Tax Court Ruling Many taxpayers prefer to care for ill or disabled family members in their homes as opposed to placing them in nursing homes, but doing this can be expensive, time-consuming, and exhausting. […]

If you had to make a list of all the things that most business owners hate, taking care of accounting and other financial matters is probably right at the top. Yet at the same time, a lot of those same business owners are struggling. Maybe they had a financial goal that they fell significantly short […]