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 susbcribe to our newsletter for more updates.

Include getting a handle on your taxes in midyear planning

Include getting a handle on your taxes in midyear planning

From Thomson Reuters and KM&M CPAs — Dear Clients and Friends, The past year has been challenging to say the least. Hopefully the COVID-19 crisis, which affected all of us in some ways, is nearing the end. While it has been difficult to focus attention on much...

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2 in 5 Americans Say Online Shopping Busts their Budgets

2 in 5 Americans Say Online Shopping Busts their Budgets

From the American Institute of CPAs — Shopping online from the comfort of your home can be easy and convenient, but it also leads to increased spending if you’re not careful. Two in 5 Americans (41 percent) say the ability to shop online has made it harder for them to...

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American Rescue Plan changes to the Child Tax Credit

American Rescue Plan changes to the Child Tax Credit

From Thomson Reuters/Pinnacle CPA Advisory Group — Dear Client, The new American Rescue Plan Act of 2021 (ARPA) was signed into law on 3/11/21. It includes significant changes to the Child Tax Credit (CTC) rules. These changes are temporary and only apply to the 2021...

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Your guide to protecting your privacy online

Your guide to protecting your privacy online

From the Federal Trade Commission — by Maneesha MithalAssociate Director, Division of Privacy and Identity Protection, FTC The things we do throughout the course of our day give businesses access to information about our habits, tastes, and activities. Some might use...

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Treasury Department report outlines Biden tax proposal

Treasury Department report outlines Biden tax proposal

From the U.S. Department of the Treasury – President Biden in April proposed the American Jobs Plan, a comprehensive proposal aimed at increasing investment in infrastructure, the production of clean energy, the care economy, and other priorities. Combined, this plan...

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How to apply for FEMA’s COVID funeral assistance program

How to apply for FEMA’s COVID funeral assistance program

From CNN.com — The Federal Emergency Management Agency approved more than 2,585 applications for newly available Covid-19 funeral assistance in the first month after the program launched — but there are many more people waiting for help. The agency received nearly...

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Security Awareness: 3 Ways To Protect Your Identity Online

Security Awareness: 3 Ways To Protect Your Identity Online

From KnowB4.com — Within security awareness training programs, cybersecurity experts promote various tactics and best practices to implement within personal and work environments to protect your identities online and reduce the risk of theft or privacy loss. While...

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IRS Holding Over 29 Million Returns for Manual Processing

IRS Holding Over 29 Million Returns for Manual Processing

From the National Society of Accountants — Over the years, the IRS has gotten quite good at processing tax returns and issuing refunds quickly and efficiently. The IRS website says that normal processing time for an electronically filed return is 21 days, but in...

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American Rescue Plan adds Enhanced Child Tax Credit

American Rescue Plan adds Enhanced Child Tax Credit

From Pinnacle Wealth Planning Services, Inc. — If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The American...

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