HK Business News

Under current law, the deduction for business interest expense is generally limited to 30% of adjusted taxable income (ATI) for the year. The One Big Beautiful Bill Act (OBBBA) modifies how ATI is calculated, starting in 2025. Specifically, depreciation, amortization […]

This update covers several important federal tax developments affecting individuals. Highlights include changes to Trump Accounts, reporting rules for tip income, new tax credits, and planning considerations to keep in mind. Learn more from the tax experts at Hall Kistler […]

Given the dramatic increase in the federal gift and estate tax exemption over the last 20 years, there's a common misconception that federal estate planning is a concern of only the wealthiest individuals. Indeed, with the exemption amount currently at […]

The new tax law introduced deductions for qualified tips and qualified overtime compensation. Specifically, for 2025 through 2028, it creates a deduction of up to $25,000 for tip income in certain industries. It also creates a deduction of up to […]

The One Big Beautiful Bill Act (OBBBA) includes a number of tax law changes that affect employers. Here are 10 key provisions employers need to understand to ensure compliance with their federal tax and reporting obligations and to minimize taxes […]

Choosing the right bookkeeper is one of the most important staffing decisions your business will make. A skilled bookkeeper maintains accurate financial records, manages cash flow, and ensures compliance with accounting and tax requirements. But finding the right person can […]

Succession planning is one of the most important responsibilities of a manufacturing business owner. By identifying and grooming future leaders early — whether family members, internal managers or an outside successor — you can create a smoother handoff and help […]

As calendar-year entities start work on their year-end financials, it’s important to remember that financial reporting is about more than compliance. Financial statements also help business owners make better-informed decisions — and they provide a wealth of data to assess […]

Significantly fewer taxpayers have owed the alternative minimum tax (AMT) for the last several years. This is because the Tax Cuts and Jobs Act (TCJA) made the individual AMT rules more taxpayer-friendly for 2018 through 2025. The One Big Beautiful […]

As the year draws to a close, many businesses look for ways to recognize and thank their employees. From gift cards to holiday treats to service awards, the options are plentiful. But not all gifts are treated equally by the […]

The IRS has announced its annual inflation-adjusted income tax brackets and other amounts. For 2026, the highest rate (37%) will apply to taxable income over $640,600 for individuals ($768,700 for married filing jointly and $384,350 for married filing separately). The […]

Individual taxpayers faced significant tax planning uncertainty for the first six months of the year. Many provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) were scheduled to expire at the end of this year. However, after the […]