HK Business News

The One Big Beautiful Bill Act (OBBBA) establishes new individual federal income tax deductions for qualified income from tips and overtime. Although the OBBBA wasn't signed into law until July 4, 2025, these new deductions were effectively made retroactive to […]

Although many provisions of the One Big Beautiful Bill Act (OBBBA) took effect in 2025, additional changes began in 2026. A significant change for higher-income taxpayers age 50 and older under the Setting Every Community Up for Retirement Enhancement 2.0 […]

Tax season is here, and the IRS is reminding taxpayers of their rights. By law, every taxpayer is protected by the Taxpayer Bill of Rights, which outlines 10 key principles that promote fairness, transparency and respectful treatment. These include being […]

Starting January 1, 2026, significant changes will take effect regarding the deductibility of certain business meal expenses. The 2025 Act introduces new restrictions on employer deductions for food and beverage expenses that are excluded from employee income. The general rule […]

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 […]