Partnerships: Tax Considerations When Adding a New Partner

Are you considering inviting an employee or an outsider to participate in your existing partnership? Before making any commitments, it's important for you and the prospective partner to understand the potential federal tax implications. Important: Read More

Kirsch CPA Group

Sep 22, 2023

IRS Orders an Immediate Stop to New Employee Retention Tax Credit Processing

After receiving a deluge of improper Employee Retention Tax Credit (ERTC) claims, the IRS recently announced an immediate moratorium through at least December 31 on processing new claims for the pandemic relief program. The tax Read More

Kirsch CPA Group

Sep 20, 2023

4 Strategies to Strengthen Your Small Business

Even at the best of times, the future is unpredictable. As anyone who has run a business for any length of time understands, there will often be challenges, many of which are unexpected — such Read More

Kirsch CPA Group

Jul 31, 2023

Midyear Tax Planning for Small Businesses and Owners

Summer isn't just for barbecues and baseball. It's also a good time to think about ways to cut your 2023 business tax bill. Here are four planning ideas for small business owners to consider, assuming Read More

Kirsch CPA Group

Jul 18, 2023

Do You Owe SE Tax on Home Rental Income?

If you rent out a second home — or part of your main residence — you may be unclear about whether you need to pay self-employment (SE) tax on your net rental income. In fact, Read More

Kirsch CPA Group

May 22, 2023

Are You Using the Right Accounting Method for Your Business?

The accounting method you currently use for your small business may no longer be appropriate due to changes in market conditions or within your company. The IRS generally allows taxpayers to change their method, but Read More

Kirsch CPA Group

May 10, 2023

Got a “Business” Idea? You Might Want to Form a Nonprofit

Do you have an idea for a new venture with social benefits or environmental applications? You can set up as a for-profit entity — such as a C corporation, S corporation or limited liability company Read More

Kirsch CPA Group

May 08, 2023

Do You Know How SECURE 2.0 Will Affect Your Manufacturing Company?

The SECURE 2.0 Act, enacted at the end of 2022, expands on the retirement plan improvements made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act). In general, SECURE Read More

Kirsch CPA Group

Mar 16, 2023

Does Your Business Qualify for the Employee Retention Credit (ERC)?

The Employee Retention Credit (“ERC”) was originally enacted as part of the first wave of pandemic relief in March of 2020. Since then, it has been modified and expanded to make many small businesses eligible. Read More

Sue Schloemer

Sep 28, 2022

Bankruptcy Law Changes: Silver Lining in Dark Cloud

Are you optimistic about the future of your small business? The National Federation of Independent Business (NFIB) reported in April 2022, that the number of businesses expecting brighter days ahead has dropped to its lowest Read More

Kirsch CPA Group

Jun 08, 2022