NKSFBTax Insights
How Do Taxes Factor Into an M&A Transaction?
July 25, 2022
Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought and sold. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law.
Read More about How Do Taxes Factor Into an M&A Transaction?Subscribe to
Tax Insights
Receive the latest Tax Insights post, delivered directly to your inbox.
IRA Charitable Donations: An Alternative to Taxable Required Distributions
July 18, 2022
Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an IRS-approved charity out of your IRA.
Partners May Have to Report More Income on Tax Returns Than They Receive in Cash
July 11, 2022
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner.
Is It a Good Time for a Roth Conversion?
July 5, 2022
The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost.
Help When Needed: Apply the Research Credit Against Payroll Taxes
June 27, 2022
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax. This payroll tax election may influence some businesses to undertake or increase their research activities. On the other hand, if you’re engaged in or are planning to engage in research activities without regard to tax consequences, be aware that some tax relief could be in your future.
Caring for an Elderly Relative? You May Be Eligible for Tax Breaks
June 21, 2022
Taking care of an elderly parent or grandparent may provide more than just personal satisfaction. You could also be eligible for tax breaks. Here’s a rundown of some of them.
Proposed Regs for Inherited IRAs Bring Unwelcome Surprises
June 13, 2022
Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes to retirement and estate planning strategies, but it also raised some questions. The IRS has been left to fill the gaps, most recently with the February 2022 release of proposed regulations that have left many taxpayers confused and unsure of how to proceed.