by KNSS | Jul 5, 2022 | 2022 July news
Just a reminder that if your practice had a 401k/Profit Sharing Plan in place during 2021, you are required to file a Form 5500 by 7/31/22...
by KNSS | Jul 5, 2022 | 2022 July news
Practice owners who received Provider Relief Fund (PRF) payments exceeding $10,000 in the aggregate between January 1, 2021 and June 30, 2021 are required to self-report using the PRF Reporting Portal during Reporting Period 3 (RP3) which runs through September 30th. ...
by KNSS | Jul 5, 2022 | 2022 July news
From IRS.gov – IRS Tax Tip 2022-98, June 28, 2022 Parents who are divorced, separated, never married or live apart and who share custody of a child with an ex-spouse or ex-partner need to understand the specific rules about who may be eligible to claim the child...
by KNSS | Jul 5, 2022 | 2022 July news
The IRS recently announced an increase of 4 cents to the optional standard mileage rate due to the increase in gas prices. The new rates are effective July 1, 2022- December 31, 2022: Business travel rate is now 62.5 cents per mile Deductible medical expenses is now...
by KNSS | Jul 5, 2022 | 2022 July news
It’s summertime and we often get asked about how to handle taxes and forms for a child’s summer job or first job out of college. We’re recapping some tips below: Completing Form W-4 for summer jobs: When you child begins their summer job, their new...
