On July 4, President Trump signed into law the sweeping One Big Beautiful Bill Act (OBBBA). This bill is a landmark tax and spending package that makes key provisions from the 2017 Tax Cuts and Jobs Act (TCJA) permanent, introduces significant changes for businesses and individuals, and redefines international tax and clean energy policy. With […]

If you’ve ever wanted to slice and dice your financial data in QuickBooks® Online without changing your chart of accounts or creating new classes or locations, you’re in luck. The Tags feature in QuickBooks® Online offers an intuitive, flexible way to track transactions across any category you choose—clients, events, sales channels, campaigns, or even employee […]

You know that moment in April when you look at your tax bill and think: “We could’ve done something about this… if we’d only planned earlier.”  Well, this is earlier.  And if you’re a business owner who’s having a good year so far (or even just a better-than-expected one), now’s the time to stop the silent tax […]

It starts small. Fewer cars on the dealership lot. Half-empty restaurants on a Friday night. A “maybe next year” when customers talk about their next big vacation.  It’s not your imagination. Consumer behavior is shifting — and small businesses are feeling it.  When uncertainty rises (tariffs, policy shifts, rising prices), people don’t always rush to […]

On January 4, 2025, President Biden signed into law the Social Security Fairness Act, a significant milestone in addressing long-standing issues within the Social Security system. This new legislation eliminates two controversial provisions: the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions have historically reduced the Social Security benefits of certain […]

Navigating the labyrinth of return filing requirements for tax-exempt entities can seem daunting at first glance. However, understanding these requirements is crucial for maintaining your organization’s tax-exempt status and ensuring compliance with the Internal Revenue Service (IRS). This comprehensive guide will walk you through the various forms that may need to be filed, their specific […]

If you’re considering a career in public accounting, you’ve likely heard about the traditional path to CPA licensure — typically a bachelor’s degree followed by a fifth year of school or a master’s program to meet the 150-hour requirement. But that may soon change. The AICPA and NASBA recently approved a significant update to the […]

LITCHFIELD, IL – May 22, 2025 – KEB is proud to announce the expansion of its Litchfield office through the successful acquisition of Fleming Tawfall. This exciting development brings together two experienced and respected local accounting firms, significantly enhancing the capabilities and reach of KEB in the Litchfield area and surrounding communities. As part of […]

If you’re managing the books for a small business in any industry, there’s one thing everyone agrees on: accurate, timely bank data is the backbone of smart financial decisions. Whether you’re prepping for quarterly reports or diving headfirst into tax season, QuickBooks Online makes it easier than ever to keep your records in sync. But […]

You did it. You worked hard, saved consistently, and now you’re either enjoying retirement—or it’s just around the corner.  You’ve been told for years to put money into retirement accounts, defer taxes, and wait for the golden years. But wait… no one told you?  Retirement might be your highest-taxed phase yet.  Seriously. Between Social Security […]