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Auditing WIP in Accordance with GAAP

Many types of businesses — such as homebuilders and manufacturers — turn raw materials into finished products for customers. Production is a continuous process. So, any work that has been

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10 Facts About the Pass-Through Deduction for Qualified Business Income

Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction, or

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Be Prepared: IRS Audits May Be Increasing

The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. Even though a small percentage of

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Military Personnel & Veterans More Often Targeted by Fraudsters

According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. Active-duty military personnel and their spouses and dependents also suffered big financial losses to fraud

#KPMCPAs Seeks an Administrative Assistant

#KPMRecruiting – KPM is looking for a professional administrative assistant to join our team! This position is essential to KPM’s culture of customer service, serving as the first point of

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Will Your Non-Profit Accept Cryptocurrency Donations?

Cryptocurrency has gone mainstream, and if you have been sitting on the fence about accepting donations in virtual currency, it is time to make a decision. But before your non-profit

IRS Extends Administrative Relief For 401(k) Plans

As mitigation measures related to COVID-19 ease, it will be interesting to see which practices and regulatory changes taken in response to the pandemic remain in place long-term. One of

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Moving Your Trust to Another State Requires Planning

In some cases, it may be desirable to move a trust to a more favorable jurisdiction. However, moving a trust from one state to another can present significant risks, so

#KPMCPAs Congratulates SBJ Economic Impact Award Client Honorees & Finalists

#KPMCPAs congratulates our client honorees and finalists for the Springfield Business Journal’s Economic Impact Awards! They are: Laura Farmer, Executive Director of CASA of Southwest Missouri (CASA), named the Community

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IRS Continues To Address COVID-Related Leave

The American Rescue Plan Act (ARPA), signed into law earlier this year, amended and extended the tax credits available to eligible employers that provide paid sick and family leave. This