KVLSM LLP

Today we celebrate the legacy of Dr. Martin Luther King Jr. and his committment to peace, equality, and justice for every walk of life.

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Your home isn't just a shelter, it can also provide you with significant tax breaks! Learn more about the benefits of itemizing your deductions here: https://conta.cc/3rZGHcf #taxprofessionals #accountants #cpa #accountingfirmny #financialresources #taxservices #accountingservices

Did you know that loyalty programs help retain existing customers and entice new customers to invest in your brand. Read more about customer loyalty here: https://conta.cc/3rZGHcf #taxprofessionals #accountants #cpa #accountingfirmny #financialresources #taxservices #accountingservices

The January Q&A is here! Learn more about how much money can be excluded from your taxes after selling your house. https://conta.cc/3rZGHcf #taxprofessionals #accountants #cpa #accountingfirmny #financialresources #taxservices #accountingservices

Protect your family and your assets with an up to date estate plan. Use this checklist as a starting point to help you navigate this important process: https://conta.cc/3rZGHcf #taxprofessionals #accountants #cpa #accountingfirmny #financialresources #taxservices #accountingservices

#WeekendShortBit ! #taxprofessionals #accountants #cpa #accountingfirmny #financialresources #taxservices #accountingservices

#WeekendShortBit ! #taxprofessionals #accountants #cpa #accountingfirmny #financialresources #taxservices #accountingservices

Are these three items on your financial checklist? Make sure your books are ready for tax time, click on the link to learn more! https://conta.cc/3rZGHcf #taxprofessionals #accountants #cpa #accountingfirmny #financialresources #taxservices #accountingservices

Want to improve your financial future? Follow these four helpful tips and set yourself up for success in 2021! https://conta.cc/3rZGHcf #taxprofessionals #accountants #cpa #accountingfirmny #financialresources #taxservices #accountingservices

Our January E-Newsletter is live! Stay up to date on all our social media platforms and learn how to develop and maintain a solid financial foundation for 2021! https://conta.cc/3rZGHcf #taxprofessionals #cpa #accountingfirmny #financialresources #taxservices #accountingservices

#WeekendShortBit

You've found yourself in an unpleasant tax situation, now what? Check out these tips for planning your finances to avoid a surprise from the IRS: https://bit.ly/36EG0fS

The December Q&A is here! Read more to learn how to dispute a questionable balance with the IRS and deduct expenses from your tax returns!

Take advantage of tax saving opportunities! Follow these 4 steps to ensure your finances are in order for 2021: https://bit.ly/39HILz9

Happy Holidays from KVLSM! Wishing you and your loved ones a safe and happy holiday season!

Stay on track with your financial goals! Learn how to better track your expenses and eliminate negative spending habits: https://bit.ly/340PnoH

Did you pick up a side gig during the pandemic? You may be entitled to deduct business related expense from your taxes. Find out more: https://bit.ly/2L0cTv6

New PPP rules may result in higher taxes for business owners this season. Learn more about how the CARES Act influences your tax deductibles.: https://bit.ly/2JOKvLO

Our December e-newsletter is live! Stay up to date on all our social media platforms and get the latest information on the Paycheck Protection Program (PPP) and how to manage your financial health in the new year! https://bit.ly/3mC3rMl

KVLSM LLP is wishing you a Happy Thanksgiving! We hope you are enjoying your holiday while staying safe. #happythanksgiving #thankful

Saturday #ShortBits https://bit.ly/36M4MeG

Happy Halloween from KVLSM! We hope you have a safe and fun day!

In the case of parent's premature death, the necessary legal documents must be set in place to protect their child(ren)'s future. Learn more about how to protect your family today: https://bit.ly/3nmT3sV

Your small business has big aspirations, read more on how to reopen your business in the safest way for customers and staff! https://bit.ly/3d52f00

Don't give them the opportunity, keep these important valuables safe at home so they can't be stolen on the street. https://bit.ly/2GHhgt5

Borrow, take, or invest? When switching jobs, learn about all your options when it comes to managing your 401K https://bit.ly/3iHurY2

All your questions answered: our October Q&A is here! Read more below! https://bit.ly/36M4MeG

COVID-19 forced many people to retire before they planned, don't let the uncertainty of this time affect your plans any further. Read our tips on how to transition into retirement and manage your new life. https://bit.ly/3iymUuE

October 2020 Client Profile: Cora has begun to talk with her aging parents about their wills, long-term care and life insurance policies. What is the best way for her to go about managing these overwhelming tasks? https://bit.ly/36I6jlY

There's no magic seed for the money tree (believe us we looked). Teach your children the value of money and how to make the most out of their saving habits https://bit.ly/30Fj1xQ

Did you know that the average online visitor forms an opinion of a company’s brand in about three seconds? Here's how to avoid common website mistakes and optimize the customer's view of your business https://bit.ly/3jFpq3J

Our October e-newsletter is live! Stay up to date on all our social media platforms this month to learn more, from reinventing your small business, to raising money savvy kids! https://bit.ly/3d4DtgK

September #ShortBits http://ow.ly/mdhm50BkVV5

September #ShortBits http://ow.ly/7pr950BkVQx

September Q&A is here! http://ow.ly/1rtp50BkVME

Find a budget method that works; which unique method of budgeting will work for you? http://ow.ly/DHpP50BkVFC

Calling all shopping enthusiasts! Shopping can be fun, but also drain your wallet. So how do you maintain a respectable wardrobe in a cost-effective way? http://ow.ly/wBX350BkVuv

The IRS recently announced its 2020 edition of its annual Dirty Dozen list of tax scams with a special emphasis on aggressive and evolving schemes related to COVID-19 tax relief. Learn about six of the more common scams and what you can do. http://ow.ly/OYjH50BkVbn

Well-qualified borrowers may be able to get some very low mortgage rates on both purchases and refinance transactions. The interest rate is only one of the factors to consider before you sign. http://ow.ly/Dt6350BkV0P

Open enrollment is an important process that usually takes place November 1 through December 15. But for employers, planning starts much earlier. Need tips for success? http://ow.ly/nIRj50BkUKw

September 2020 Client Profile: Allen owns a small construction business and has been self-insuring property and casualty insurance risks using a captive insurance company. Is the IRS planning to crack down on these arrangements?... http://ow.ly/Y4XX50BkUtx

As we head into the final quarter of 2020, now’s the time to schedule a year-end tax review. Some of these tax opportunities expire at year-end. http://ow.ly/aKjN50BkTw3

Did you hear about the new changes? Continue learning about the SECURE Act and the CARES act. http://ow.ly/YTCC50BkTpn

Important information! Industry studies show that data breaches cost small to medium businesses an average of $200,000. Learn how to protect your business. http://ow.ly/2meJ50BkTl9

Who should consider converting to a roth IRA? https://www.kvlsmcpa.com/email/september-2020/roth-ira.html

Is a Roth Conversion right for you? Read more on the differences between a Roth IRA and a traditional IRA: http://ow.ly/G3PZ50BkT4r

Our September enewsletter is live! Stay up to date on our social media platforms this month to learn more from managing your finances to information on data breaches. http://ow.ly/g6go50BkSTX

Happy Labor Day from KVLSM, LLP! In observance of the holiday, our office will be closed beginning 3:00pm today and all day Monday, September 7.

#ShortBits Near-term outlooks for both real sales expectations and economic uncertainty were negative in the National Federation of Independent Business (NFIB) April SB survey. But the survey also revealed that the number of owners expecting better business conditions in the next six months jumped 24 points compared to the previous month.

#ShortBits A recent study from the Joint Center for Housing Studies of Harvard University revealed that long-distance moves have reached an all-time low. Moves crossing state lines accounted for 3.3% of the population in 1990, but have fallen to just 1.5% today. Part of the decline is attributed to the large Millennial demographic aging out of the time of life in which they’re most likely to move. Another deterrent of more frequent moves is housing affordability.

#ShortBits According to the U.S. Bureau of Labor Statistics, Americans born in the early 1980s averaged holding 8.2 jobs over a 14-year span of adulthood. Over half (57%) of those jobs ended in less than a year. Additionally, the study found that women were more likely to obtain a bachelor’s degree than men (29% compared to 22%, respectively).

#ShortBits A recent WalletHub survey reveals that 87 million Americans are worried about their credit scores as a result of the COVID-19 pandemic. To help track changes, potential errors, and identity fraud, Annualcreditreport.com now offers free weekly credit reports rather than free annual reports. Consumers should also know that by reaching out to lenders for help with payment flexibility, their loans will be reported to the credit bureaus as current, according to guidance from the Consumer Financial Protection Bureau.

Friday Q&A! Still have questions? Contact our CPA firm today: https://bit.ly/30Koeoy

Your frequently asked questions on PPP Loans now answered: https://bit.ly/3fL08y4

Don't make these mortgage financing mistakes! https://bit.ly/3imwz7K

Should you incorporate your business? Learn about several scenarios where it may make sense to do just that: https://bit.ly/3kwkFu4

Did you hear about the new tax rules for 2020? Find out more: https://bit.ly/2DGZa98

Are you a college graduate seeking employment? We have advice for you to consider: https://bit.ly/2Cf6bgV

What steps should one take to help protect their investments? To find out: https://bit.ly/3fKRhg2

Did you hear? A recent study by U.S. Bank showed that 82% of small business and startup failures were due to cash flow issues. How can one solve this? Read more: https://bit.ly/2PHNEgo

In need of document management assistance? Learn more today: https://bit.ly/3iqY4x3

Consider these three steps to enhance your small business this month: https://bit.ly/30LvoJo

Our August e-newsletter is live! Sign up on our website to receive updates, emails, and advice from KVLSM: https://bit.ly/3isTONK

Industries that profited during COVID-19: While the coronavirus pandemic has been devastating to businesses around the globe, some sectors have flourished. Meal delivery kit service Blue Apron, for example, struggled after going public a few years ago, but has since seen a surge and is actively hiring. Other unconventional items that have jumped in popularity include bidets and high fashion face masks that were originally designed for those with immunosuppressant issues. https://bit.ly/31U4j7O

Coronavirus phishing attacks: The CARES Act includes a provision to increase deductions for charitable giving during the crisis. If you don't itemize your taxes, you can take an above-the-line deduction of up to $300. In other words, you don't have to pay taxes on that amount. If you do itemize your taxes, you can deduct gifts up to 100% of your adjusted gross income, rather than the usual 60%. https://bit.ly/31U4j7O

Small business and PPP: The National Federation of Independent Businesses reported that 70% of small business owners tried to apply for the Paycheck Protection Program as of mid-April. More than 72%of those who submitted applications did so successfully. The majority of this group (84%) already had some type of account with the bank. https://bit.ly/31U4j7O

Parents doing too much? According to a new Pew Research Center study Americans believe that young adults should be financially independent by age 22, but that is not the reality. The study found that only 24% of young adults were financially independent by age 22 or younger, compared with 32% in 1980. Also 45% of adults ages 18-29 reportedly received financial help from their parents in the past 12 months. https://bit.ly/31U4j7O

How can I improve my credit score? Poor credit can raise your borrowing costs or eliminate your ability to borrow altogether, and it can even disqualify you from employment opportunities. To improve your score, start by understanding your problem. Do you make late payments or carry too much debt compared to your overall credit limit? Make it your mission to pay every bill on time. A recent history of on-time payments will help improve your score. If you carry too much debt, stop spending and start paying it off. Creditors want to see responsible customers. Don't add to your debt. Applying frequently for new cards or loans can also hurt your score. https://bit.ly/31U4j7O

I have a couple side gigs and my only bookkeeping record is my checking account and charge cards. Where do I start to make tax preparation easier? With the higher standard deduction, it may or may not make sense to track expenses for the purpose of tax deductions. You can track expenses and save receipts using various software packages or smartphone apps. Your tax advisor can help you make these decisions. Remember to pay estimated taxes quarterly. It is recommended that you keep business and personal accounts separate. https://bit.ly/31U4j7O

Small business owners, self-employed workers and freelancers received some welcome news when Congress recently passed the Paycheck Protection Flexibility Act. Here is what you need to know: https://bit.ly/2VUIYHi

Millions of Americans already received their economic impact payment. But what if you're still waiting or your payment was for an incorrect amount? Find out more: https://bit.ly/31P9y8J

Three legal documents a will, powers of attorney and an advance directive are essential elements in an overall strategy to protect the ones you love, providing a measure of certainty when you can’t. Learn more: https://bit.ly/3eekmjn