If You Did Not Contribute to an IRA Last Year, There Still May Be Time
If you are getting ready to file your 2020 tax return, and your tax bill is higher than you would like, there might...
23 February, 2021
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KPM is a highly experienced firm of CPAs and advisors that has served clients throughout Southwest Missouri for decades. As you may know, the accounting industry is always evolving amid complex rules and regulations. As a result, our firm publishes timely updates on a variety of accounting topics to help keep you informed.
If You Run a Business from Home, You Could Qualify for Home Office Deductions
During the COVID-19 pandemic, many people are working from home. If you are self-employed and run your business from your home or perform...
22 February, 2021
Did You Make Donations In 2020? There is Still Time to Get Substantiation.
If you are like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what...
16 February, 2021
Tax Implications When Buying or Selling a Business
Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. Analysts do expect it to improve in 2021, however, as...
16 February, 2021
2021 Individual Taxes: Answers to Your Questions About Limits
Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That is understandable...
09 February, 2021
Many Tax Amounts Affecting Businesses Have Increased For 2021
A number of tax-related limits that affect businesses are annually indexed for inflation and many have increased for 2021. Some stayed the same...
08 February, 2021
The Power of the Tax Credit for Buying an Electric Vehicle
Although electric vehicles (or EVs) are a small percentage of the cars on the road today, they are increasing in popularity all the...
02 February, 2021
The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents,...
01 February, 2021
Do Not Forget to Take Required Minimum Distributions This Year
If you have a traditional individual retirement account (IRA) or tax-deferred retirement plan account, you probably know that you must take required minimum...
26 January, 2021