NKSFBTax Insights
How the New Secure 2.0 Law May Affect Your Business
February 13, 2023
If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years.
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Tax-Wise Ways to Save for College
February 6, 2023
If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored ways to save that may be available to you.
Secure 2.0 Law May Make You More Secure in Retirement
January 30, 2023
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022.
Renting to a Relative? Watch Out for Tax Traps
January 23, 2023
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences.
Choosing a Business Entity? Here Are the Pros and Cons of a C Corporation
December 27, 2022
If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing business as a C corporation.
Strategies for Investors to Cut Taxes as Year-End Approaches
December 19, 2022
The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual losses from your stock market investments.
Five Steps to Take Now to Cut Your 2022 Tax Liability
December 5, 2022
It has been quite a year — high inflation, rising interest rates and a bear stock market. While there’s not a lot you can do about any of these financial factors, you may have some control over how your federal tax bill for the year turns out. Here are some strategies to consider executing before year end that may reduce your 2022 or future tax liability.