Kopensky LLP, CPAs

Tap into your full potential. Wednesday Wisdom from Kopensky LLP

There are a lot of benefits available for those who can take advantage of the Section 1202 gain exclusion on the sale of QSB stock, but the requirements and eligibility criteria are intimidating and complicated. Learn more in today's blog post.

Transform your life. Wednesday Wisdom from Kopensky LLP

April showers bring May flowers, but this April also brought a lot of action to the US economy and business world. In case you missed them, here's a breakdown of the latest stories affecting your small business.

What are the options for individuals who cannot pay their tax liability by the extended due date? The IRS offers a payment plan, payment can be made by credit card, a retirement plan could be tapped or perhaps the money borrowed from a friend or relative. They all have negative implications.

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide tax-free grants to help restaurants and other eligible businesses keep their doors open.

Do you have investments? Are you a trader? Do you operate a trading business? Each of these classifications have different criteria - and if you are running a trading business, you should be aware of what it means for your taxes.

A little inspiration from Kopensky LLP to start your week.

Kopensky LLP has the motivation you need to get going this Monday.

Did you just find out that you made a mistake in your tax return? Do not panic. Watch this video for essential points you should know and how to fix your mistake.

Zapier - a software company helping end-users automate the integration of online applications that they use - has grown to a valuation of over $5 billion in just 10 years. They took only $1.3 million in venture capital funding early on, and their customer-centric approach has been key to their success. Learn the full story in this month's entrepreneur spotlight.

If you haven't done so, the deadline to file a tax return and claim your refund for 2017 is coming soon. On the other hand, if you owe and have not filed, you are still liable for the amount due. Don't miss out on any possible tax credits and watch out for potential tax penalties.

For those who love learning: here's a small business statistic from Kopensky LLP. #SmallBizStat

IRS Commissioner Chuck Rettig recently told the Senate Finance Committee that the US may be losing up to $1 trillion a year in evaded taxes - a much larger sum than the 3-year-cumulative amount of $441 billion that the agency had previously estimated.

Learn about taxes from your friends at Conshohocken based Kopensky LLP.

Using the installment sale method of receiving and reporting the gain from the sale of a capital asset can spread that gain over multiple years, and possibly avoid the higher capital gains rates as well as avoid or minimize the 3.8% surtax on net investment income.

It matters how you get there. Wednesday Wisdom from Kopensky LLP

Losses at Bill Hwang's Archegos Capital Management following margin calls left Wall Street in shock at the end of March. Here's what happened.

Stock options are incentives provided to key employees to help grow the value of the employer's stock. When stock options are exercised, non-statutory option gains are treated as wages, while the gain from stock acquired by the exercise of statutory (incentive) options is deferred until the stock is sold, at which time the gain is treated as a capital gain if the shares are held for a required period of time.