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Dear Valued Clients,I hope this letter finds you well. At KVLSM LLP, we value the trust and partnership we have built with our clients over the years, and we are committed to keeping you informed about important developments that may affect your business. Today, we would like to bring your attention to the upcoming implementation of the Corporate Transparency Act (CTA) and its potential impact on your operations....
KVLSM is nominated for Long Island's Best Accounting Firm! Be sure to vote for us every day until December 15th!
Watch Out For These Unexpected Tax Surprises!No one likes surprises from the IRS, but they do occasionally happen. Here are some examples of tax situations you could find yourself in and what to do about them...
Year-End Tax Cutting Moves to ConsiderHere are moves you can make to reduce your taxable income. But the year is quickly coming to a close, so plan accordingly...
Beware Of Holiday ScamsAccording to the FBI Internet Crime Report, Americans lost over $10.2 billion to cyber-enabled fraud, including $107 million to spoofing in 2022. Even savvy people can be caught by sophisticated schemes. Don’t be a victim; here are some common types of threats you should know about...
Understanding Capital Gains Tax On Home SalesAre you thinking of selling your primary residence? Unless the home has decreased in value since you bought it, you’ll want to know about potential capital gains tax on your sale. You don’t want to incur a larger than necessary tax bill...
Manage Family Finances Like A BusinessWhen doing your year-end financial review, consider managing your personal finances like you handle your business. Why? Looking at your personal situation from a business perspective helps you find places to cut expenses, boost cash flow and improve your personal financial situation... SERVICES
RECENT E-NEWSLETTERS
DECEMBER 2023 Q & AQ: With the holidays here and the end of 2023 near, I'm uncertain how much to tip the people whose services I've used during the year. Any guidelines? A: The following chart provides suggested tipping amounts for various service providers.
20/20 HindsightLooking back at 2023 may provide ideas to help get your business off to a better start in 2024. Some questions to ask yourself include: HOW COMMITTED IS YOUR STAFF? ARE YOUR GOALS REALISTIC? HOW’S YOUR HEALTH? Retiree RegretsHistory is a great teacher. Those who go before us can help us to learn from their mistakes. Here are common regrets of retirees who wish they had done things differently.
Source: Consumer Sentiment Tracker, 2023
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