News
Thinking of Starting a New Business? Let us Help.
For the past couple years, the focus has been on keeping businesses afloat as we deal with COVID-19, but now with the economy starting to [...]
Fraud Awareness Training Benchmarking
The Association of Certified Fraud Examiners (ACFE) recently released a Fraud Awareness Training Benchmarking Report to aid organizations in assessing their fraud awareness training efforts [...]
Fun Fall Festivities
As the temperature begins to drop around the Twin Cities area and the leaves change, there are many fun outdoor activities to enjoy around the [...]
The Enhanced Child Tax Credit – what you need to know
The Enhanced Child Tax Credit - what you need to know Included as a part of the American Rescue Plan Act of 2021 was an enhanced child tax credit provision that increased the child tax credit from $2,000 to $3,000 with an additional $600 for kids under the age of 6 ($3,600/year for kids under 6). This credit is a fully refundable credit, meaning you can receive the full amount even if it exceeds your tax withholdings.
Watch your mail — is it from the IRS?
Watch your mail -- is it from the IRS? Have You Received a Letter or Notice From the IRS? The Internal Revenue Service (IRS) recently issued a statement in the ongoing series of COVID tax tips related to how you should handle any IRS correspondence that you receive.
Joe Kenyon Receives Legacy Award
Joe Kenyon, leader of SDK's Forensic Accounting and Valuation team, has been selected to receive the Minnesota Society of CPA’s 2020-2021 Legacy Award. This award [...]
Does your business have an Employer Identification Number?
In a recent news release, the Internal Revenue Service (IRS) has highlighted what it is calling a security issue related to the contact information it has on file for Employer Identification Numbers (EINs) that it has issued.
State Income Tax Deduction Work Around
With the enactment of the Tax Cuts & Jobs Act, the itemized deduction for state taxes was limited to $10,000 for taxpayers filing married filing jointly. This change in tax law was disadvantageous to those taxpayers living in high taxed states who were usually able to take advantage of a higher itemized tax deduction for the large amount of state income taxes paid.
