TAXPAYER RESOURCES

With tax laws changing every year, completing your returns can be confusing and frustrating.

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Tax news and updates for individuals, families, and entrepreneurs

Our team of tax experts has the solutions to make your next filing a little easier — and that insight is just a click away. Browse our archive of tax-related posts below, and click the button to sign up for our newsletter and updates.

The IRS has different requirements for businesses that hire contractors and employees.

Contractor or employee? Know the differences

May 22, 2023

These days, more businesses are filling vacant positions and saving money by using independent contractors. Knowing the basic rules can keep you out of trouble with the IRS.

Don't let tax issues after retirement spoil your dream of quiet sunsets on the beach.

Retiring soon? Tax challenges might be ahead

May 19, 2023

Don’t ignore tax planning as work slows and retirement gets closer. There could be a new set of tax challenges around the corner.

Quick answers to your common questions after Tax Day.

Three common questions after filing your taxes

May 9, 2023

Even if you filed your 2022 tax return by the deadline, you might still have questions. We’re often asked about refund status, how long to keep records, and when an amended tax return should be filed. Here are the simple answers.

Tennessee tax cuts include business credits, grocery tax holiday

May 3, 2023

Tax law changes are coming for Tennesseeans, including a three-month grocery tax holiday, paid family leave tax credit for employers, and a host of other cuts to business and F&E taxes.

FAQ: Capitalization and amortization of R&D costs under new Section 174 rules

Apr 28, 2023

Middle market companies engaging in research and development activities face new challenges due to new Section 174 rules. Here are answers to some of the most common questions stemming from the new requirements.

New tax treatment of R&D costs spur M&A considerations

Apr 25, 2023

Understanding new Section 174 rules is essential for business owners to prevent costly surprises and preserve cash flow.

Historic sites can provide tax benefits for business relocation or expansion.

Tax credits add incentive for business expansion

Apr 17, 2023

The federal tax code encourages businesses to invest in historic buildings with a tax credit. Here are the ways it can help if your business moves or expands.

Those tax papers you wanted to throw away might be worth keeping a little longer.

Trash or treasure? Value of tax paperwork can vary

Apr 11, 2023

If your spring cleaning includes sending tax paperwork to the trash pile, think about the potential value of those documents if you’re involved in a future IRS audit.

Using the "head of household" status on your next tax filing can be a money-saver.

The tax perks of being ‘head of household’

Apr 6, 2023

Filing as a “head of household” instead of “single” could save you money when it’s time to file your taxes. Do you qualify?

"We saved one client $700,000 using R&D credits — credits that the company’s previous CPA told them they were not eligble to claim. We stay on top of the latest tax laws to help clients reduce their taxes.”

Mark Patterson, KraftCPAs Tax Services

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