Dealing with the Internal Revenue Service (IRS) can be a daunting and often stressful experience, but it's a necessary part of life for all taxpayers in the United States. The...
When planning for your retirement and thinking about how to leave a financial legacy for your heirs, understanding the concept of Stretch IRAs is crucial. A Stretch IRA, also known...
Posted by KLSM CPA Firm PLLC on 11/27/2023
Taxpayers find filing taxes hectic because it consumes more than thirteen hours of their time. The time consumed can extend beyond those hours depending on the complexity of your financial...
Posted by KLSM CPA Firm PLLC on 10/16/2022
Everyone has once thought of a way to reduce their taxable income. Taxpayers at times go as far as protesting for tax reduction. Some think of a filing structure that reduces tax....
Posted by KLSM CPA Firm PLLC on 07/12/2022
April 15th is just around the corner, and if you're like many people, chances are your tax preparation is somewhere between mild disarray to frantic, panicked scrambling. There's...
Posted by KLSM CPA Firm PLLC on 02/22/2022
Reconciliation is the method of verifying the accuracy and consistency of your financial statements.Reconciliation also helps identify and explain any discrepancies that may arise...
One of the most common mistakes businesses make is not having the right status for a worker. The options are employees or self-employed.An independent contractor (IC) carries out an...
One of the things every first time business owners need to know is filing tax. As long as they pay employees, quarterly filing of taxes is essential. This is where Form 941 comes in....
As humans, mistakes are inevitable. Although, when you arm yourself with some information, you can avoid mistakes. When you have an error on your tax, it might not trigger a full audit....