105 Bay Court
Lebanon, TN 37087
615-449-2334
lebanontn@kraftcpas.com
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There’s a great tax perk that allows businesses to deduct employee bonuses this year but doesn’t tax the employee until next year. Unfortunately, that rule doesn’t always apply.
Dealing with the unexpected is part of business, and depending on the timing and situation, it can throw a big wrinkle into a company’s financial reporting.
It’s not just Santa who’s watching this time of year — so is Uncle Sam. To stay off his naughty list, remember which types of holiday joy are taxable and which aren’t.
Has budgeting been a thorn in your side? QuickBooks can get you started simply by using your historical financial data.
There aren’t a lot of options to change your tax situation as the year winds down. Here’s a look at four that could still save you money.
If you’re strapped for cash, you might see the money sitting in your traditional IRA as a good solution. But if you’re under age 59½, pulling money from your IRA can come with a hefty penalty.
Please contact one of our team members for more information on how we can help you with your business or individual financial needs.
Helping clients build, preserve, and transfer business value and personal wealth since 1958.
"We've been working with Tim Stees and KraftCPAs for more than a decade. The hospitality industry evolves quickly and having knowledgeble advisors is important so we can focus on running our restaurants instead of trying to keep up with all the changes to the tax code. They take the time to learn both the individuals as well as the business needs and are always quick to respond. When we were looking at an acquisition, KraftCPAs was our first call.”
Michael Richman, CPA
Vice President
Debo's Diners Inc.
