Skip to content

If It Sounds Too Good to Be True . . .

These days, it seems like everyone has an online presence. Whether it's Facebook, Twitter, Instagram, YouTube, TikTok, or just plain old websites, everybody has a story to tell and a product to sell. Financial "experts" are everywhere! But name recognition does not necessarily result in accurate information. In the midst of all those voices - especially charismatic and popular voices…

Read more

Employer Payroll Responsibilities

IRS Publication 15, Employer's Tax Guide (also known as Circular E), provides a wealth of knowledge for employers. It includes instructions on how to withhold and deposit taxes, how to withhold for supplemental wages (such as periodic bonuses), and filing responsibilities. We've put together a quick overview of employer responsibilities taken from Circular E, which you can download for your…

Read more

Don’t Worry if Your Tax Return is Extended

If your CPA tells you that your return needs to be extended, it's because additional time is needed to prepare your return so that it's complete and accurate. You'll still need to pay any anticipated taxes at the time your return would normally be due (April 18, 2022 for 2021 returns), but your finished return won't be due until October…

Read more

Preparing for Year-End 2021: Non-Payroll Considerations

In this article, we'll cover non-payroll issues to be aware of as you navigate year-end. Forms 1099 There's a veritable alphabet soup of Forms 1099, so it's important to use the right form for the right reason. Here's the list in alphabetical order (click on each one for the specific instructions): 1099-B, Proceeds from Broker or Barter Exchange Transactions 1099-DIV,…

Read more

Don’t Ignore Unclaimed Property Reporting

The annual deadline for unclaimed property remittance and reporting for both Kansas and Missouri is November 1. If your business holds unclaimed property such as uncashed payroll or vendor checks, security deposits, refunds, customer/patient overpayments, accounts receivable credit balances, or insurance proceeds, you're subject to unclaimed property reporting. The November 1 deadline reports unclaimed property as of June 30 of…

Read more

Preparing for Year-End 2021: Payroll Considerations

Year-end brings lots of payroll considerations to the forefront. Regardless of whether Kindred CPA processes your payrolls or you do it in-house, if you provide any of the following benefits, you'll need to gather this information to properly account for taxable income on W-2's: Group Term Life Insurance If you pay group term life insurance premiums for yourself or your…

Read more

Charitable Giving Considerations for 2021

The CARES Act provides four temporary options for tax-deductible charitable giving in 2021. Here's a list of strategies you might want to consider in your year-end tax planning: If you take the standard deduction, normally you would not be allowed to claim a deduction for your charitable contributions, but in 2021, individuals can claim a deduction of up to $300…

Read more

How to Access the IRS Child Tax Credit Update Portal

Taxpayers may access the Child Tax Credit Update Portal with either an ID.me Account or an IRS Online Services Account through Secure Access. An IRS Online Services Account also provides a variety of other accessibility options related to the taxpayer’s individual tax account which are not accessible with an ID.me Account. The following is a quick summary of these types…

Read more