The Kentucky Department of Revenue will soon launch a new tax portal for business tax filers called MyTaxes. The new tax portal is projected to be available on March 14, 2025. If you have a Onestop account you should have received an email about the Onestop being replaced by MyTaxes on March 14, 2025. Here […]

A range of factors can hinder a company’s growth. Failing to invest time and resources into fostering strong connections within your management team and providing them with the necessary support can lead to slower growth for your company. Some factors are simple to identify, like inadequate cash flow management or ineffective strategic planning. Others, however, […]

Preparing for retirement is a vital financial priority, and a 401(k) plan is one of the best tools to help you reach that goal. If your employer offers a 401(k) or Roth 401(k), maximizing your contributions in 2025 is a wise strategy to grow your retirement savings. If you are not currently contributing the maximum […]

Considering current hiring challenges, business owners should take advantage of the Work Opportunity Tax Credit (WOTC). This credit is available to employers who hire workers from specific targeted groups that face significant employment barriers. The tax credit can be worth up to $2,400 per eligible employee, with higher amounts available for certain veterans and recipients […]

On December 23, 2024, the Federal Court of Appeals issued a stay to the preliminary injunction halting the implementation and filing requirements of the BOI. As a result, the BOI Reporting Requirements are back in effect with a new extended deadline for most companies. Reporting companies that were created or registered prior to January 1, […]

There can be a lot of operational pressure to keep up with the financial performance of your business. It’s easy to miss an important financial event when you are looking at reports on a monthly, quarterly, or even annual basis. Creating flash reports makes it easy to spot an important event right when it happens.

It’s easy to appreciate the safety, simplicity, and government backing of U.S. Treasury savings bonds but it is also important to consider that they come with tax implications, just like all other interest-bearing investments. Deferred interest Series EE Bonds dated May 2005 and after earn a fixed rate of interest. Bonds purchased between May 1997 […]

Choosing the right structure for your business is crucial to your operations and financial health. One structure to consider is a C corporation. This structure offers several benefits but can also have its disadvantages as well. Tax implications A C corporation allows the business to be treated and taxed separately from you as the principal […]

So, how are sales looking for next year? It’s not a rhetorical question. Your business should be able to look ahead and accurately estimate how its future sales are shaping up. This practice is called sales forecasting, and doing it well is key to better managing your company’s financial performance. Why it’s important Formally defined, […]

There are two tax breaks that help eligible parents offset the expenses of adopting a child. Parents can claim both a credit and an exclusion for the expenses of adopting a child. But they can’t claim both a credit and an exclusion for the same expenses. In 2025, adoptive parents may be able to claim […]