MKHS Tax Group is here to guide you through the key steps you need to take to get organized.

Prepaying state and local taxes (SALT) is one strategy that may offer benefits—but it comes with specific limitations you need to understand

On December 23, 2024, the Fifth Circuit lifted the injunction that had temporarily paused the BOI reporting requirements under CTA.

As time ticks closer to major life events or year-end, taking steps toward estate planning can feel overwhelming. However, even...

A critical part of preparing for year-end is making sure your books reflect accurate, up-to-date information.

or individuals with both domestic and foreign financial connections, wrapping up onshore and offshore disclosures now can save you from unne

Running a business is rewarding, but the complexities of taxes can be daunting if your accounting system isn’t in order.

If you are living abroad and have foreign bank accounts or financial assets, two critical reporting obligations might apply: FBAR and FATCA

For self-employed individuals and small business owners, a vehicle is often a vital tool for conducting business. Whether you’re visiting...

The IRS treats cryptocurrency as property, not currency, for tax purposes.

Here’s an easy-to-understand guide on how the AMT works and the adjustments you can make before year-end to minimize its impact.

A recent ruling by a Texas federal court has placed a nationwide injunction on the enforcement of the Corporate Transparency Act (CTA)

While the chances of facing an IRS audit are low, it’s always a good idea to be prepared.

As a real estate professional or investor, the end of the year is a crucial time to assess your tax strategy.

Here’s why an LLC is typically a better choice for real estate investors looking to hold and manage rental properties long-term.

2025 Tax Changes to Know

Getting your worker classification right is vital to avoid potential penalties and ensure you’re receiving the proper legal protections.

Owning an interest in a foreign entity can be an exciting investment, but for U.S. taxpayers, it comes with a web of tax complications.

Your basis represents your investment in a passthrough entity.

Many business owners are familiar with the idea of ‘ordinary income’ and ‘distributions,’ but these two concepts are very different.