FEATURED ARTICLES & TAX TIP BLOG

Welcome to the KM&M CPAs Featured Articles & Tips Blog. Here we share tax and accounting news and tips for our clients on a regular basis. Please feel free to suggest ideas for topics you would like to see addressed, by dropping an email to kmm@kmmcpas.com. Enjoy the articles and subscribe to our newsletter for periodic email updates.

Should you suffer a disaster, some tax relief is available

Should you suffer a disaster, some tax relief is available

From Thomson-Reuters — If you are unlucky enough to suffer a disaster-related casualty loss, some of the costs can be mitigated through tax relief. This article explains the federal income tax implications. Limited deductions for personal casualty losses In theory,...

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Here’s three ways you can transfer a home to an adult child

Here’s three ways you can transfer a home to an adult child

From Thomson-Reuters — If you have an adult child who wants to buy a home in today's overheated market, it's financial combat out there and maybe a fight that cannot be won. If you are ready to move out of your current home (perhaps to downsize or to move to a...

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FBI warns of phony cryptocurrency investment apps

FBI warns of phony cryptocurrency investment apps

From knowbe4.com​ — Cryptocurrency investors have lost nearly $43 million to fraudulent cryptocurrency investment apps, according to the US Federal Bureau of Investigation (FBI). “The FBI has observed cyber criminals contacting US investors, fraudulently claiming to...

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Ready to become self-employed? Consider the tax implications

Ready to become self-employed? Consider the tax implications

  Thomson-Reuters —   Are you about ready to join the "Great Resignation" and become self-employed? If so, you need to consider the federal tax implications, which may not be as rosy as you think. Here are what we think are the most important things to know to...

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