KS ADVISOR BLOG

Kernutt Stokes Delivers Client Success with Financial Expertise and Innovative Software

Kernutt Stokes Delivers Client Success with Financial Expertise and Innovative Software

Your accounting system is the hub of your business operations. As a Sage-certified partner, we can assess your overall business, recommend, and successfully implement the best solution for your business.

We offer a wide range of products from core accounting, payroll, inventory management, and manufacturing solutions. As your company grows, you’ll have an accounting solution that will grow with you.

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SECURE 2.0 Act Recap

SECURE 2.0 Act Recap

On December 29, 2022, President Biden signed into law the Consolidate Appropriations Act of 2023. Included in this act is the SECURE 2.0 Act of 2022 (SECURE 2.0), one of the largest pieces of legislation affecting retirement plans in over a decade. At over 350 pages, the SECURE 2.0 Act contains over 90 provisions affecting retirement savings plans. Below is a summary of the points which may be of the most interest and importance for retirement plan sponsors.

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LIBOR Transition Regulations

LIBOR Transition Regulations

On March 5, 2021, the ICE Benchmark Administration (IBA) announced that publication of overnight, one-month, three-month, six-month and 12-month USD LIBOR will cease immediately. To address the elimination of LIBOR, the IRS proposed regulations, which were then finalized on December 30, 2021.

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Year-End Tax Planning

Year-End Tax Planning

Year-end tax planning is more challenging than usual this year due to the uncertainty surrounding pending tax legislation that could, among other things, increase top rates for ordinary income, capital gains and net investment income tax starting next year. Whether or not tax increases become effective next year, the standard year-end approach of deferring income and accelerating deductions to minimize taxes will likely continue to produce the best results for all but the highest income taxpayers.

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Three Types of Holiday Celebrations with Employees

Three Types of Holiday Celebrations with Employees

With many employers still having employees work from home due to COVID concerns, company holiday celebrations may look different than pre-pandemic times. However, this doesn’t mean that you can’t have festive times with your employees as there are still lots of fun ways to celebrate the holidays.

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