HK Business News

Investing in a home brings tax benefits Purchasing a home is the most significant investment most people will make. Owning your home comes with valuable tax advantages that can reduce your annual tax bill. One of the primary benefits is […]

The month-end close is a pain point for many small to midsize businesses. While internal accounting teams often aim to wrap up the close within three days, a recent survey found that half the respondents actually take six days or […]

Manufacturers are facing uncertainty on a variety of fronts. Rapidly shifting tariff policies, supply chain disruptions, fluctuating demand and rising raw material costs are likely among the factors creating shaky ground for your business. But two proven financial planning tools […]

IRS clarifies theft and fraud loss deductions The Tax Cuts and Jobs Act (TCJA) significantly limited the types of theft losses that are deductible on federal income taxes. But a recent “advice memo” (CCA 202511015) from the IRS’s Office of […]

Need to file an amended return? You filed your tax return and breathed a sigh of relief. Then you realize that you forgot to include something important. In general, you can file an amended return and claim a refund within […]

Managing payroll can be a major challenge for small business owners, especially as state and federal payroll tax regulations continue to evolve. Missteps in this area aren't just minor hiccups — they can lead to significant financial penalties and operational […]

If you've reached the age where you must take required minimum distributions (RMDs) from your IRAs and don't need the extra income, making qualified charitable distributions (QCDs) might be a tax-smart move. Briefly stated, this special tax provision allows an […]

The flat 21% corporate federal income tax rate ushered in by the Tax Cuts and Jobs Act makes operating your business as a C corporation attractive. That rate applies to all C corporations, including those classified as personal service corporations […]

You may soon be unable to pass through security checkpoints at your local airport using your current form of identification, even if you're flying domestically. The crackdown is aimed at U.S. citizens who don't yet have a REAL ID-compliant driver's […]

A valuable business tax credit As of January 2025, the unemployment rate was reported to be 4%. Employers facing hiring challenges may benefit from a valuable one-time federal tax credit available through 2025. The Work Opportunity Tax Credit (WOTC) incentivizes […]

Subsequent events are in the spotlight these days. The Public Company Accounting Oversight Board (PCAOB) recently initiated a project to modernize outdated auditing standards related to these events. The PCAOB says the audit guidance hasn’t kept pace with changes in […]

The Trump administration is proposing and implementing a wide range of new policies at a rapid pace. Many could have significant repercussions for U.S. manufacturers. Read on to learn about three of the most important areas to watch as the […]