NKSFBTax Insights
It’s Time for Your Small Business to Think about Year-End Tax Planning
October 7, 2024
With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and next.
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Six Tax Issues to Consider if You’re Getting Divorced
September 30, 2024
Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made.
Planning Your Estate? Don’t Overlook Income Taxes
September 23, 2024
The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax.
Certain Charitable Donations Allow You to Avoid Taxable IRA Withdrawals
September 16, 2024
If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may want to consider a tax-saving strategy. It involves making a qualified charitable distribution (QCD).
What Might Be Ahead as Many Tax Provisions Are Scheduled to Expire?
September 9, 2024
The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes. Many of its provisions are set to expire on December 31, 2025.
Social Security Tax Update: How High Can It Go?
September 3, 2024
Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people don’t fully understand the Social Security tax they pay.
If Your Business Has Co-owners, You Probably Need a Buy-Sell Agreement
August 26, 2024
Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement.