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2022 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

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Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to …

Written by Kemper Web Team on Thursday July 7, 2022


The GST Tax and Your Estate Plan: What You Need to Know

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Here’s a not-so-fun fact: The generation-skipping transfer (GST) tax is among the harshest and most complex in the tax code. So, if you’re planning to share some of your wealth with your grandchildren or great grandchildren — or if your estate plan is likely to benefit these generations — it’s …

Written by Kemper Web Team on Tuesday July 5, 2022


Businesses Will Soon Be Able to Deduct More Under the Standard Mileage Rate

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Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5, compared with $3.08 a year earlier, according to the AAA Gas Prices website. A gallon of diesel averaged …

Written by Kemper Web Team on Thursday June 30, 2022


As of May 31, the IRS Was Still Plagued by Delays in Processing Paper Returns and Issuing Refunds, According to the National Taxpayer Advocate, Erin Collins.

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As of May 31, the IRS was still plagued by delays in processing paper returns and issuing refunds, according to the National Taxpayer Advocate, Erin Collins. In her midyear report to Congress , Collins reported that the IRS had a backlog of 21.3 million unprocessed tax returns, an increase of …

Written by Kemper Web Team on Tuesday June 28, 2022


Is Your Corporation Eligible for the Dividends-received Deduction?

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There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. As a result, a corporation will typically be taxed at a lower rate on …

Written by Kemper Web Team on Thursday June 23, 2022


4 Estate Planning Documents Your College-aged Child Should have

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Does your college-aged child have a basic estate plan? In more cases than not, the answer is “no.” The good news is that the summer months are the perfect time to enlist the help of an estate planning advisor to create a plan, as your child will be available to sign the documents before heading to …

Written by Kemper Web Team on Tuesday June 21, 2022


Estate Planning and Business Succession Planning: The Lines Blur with a Family Business

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For many business owners, estate planning and succession planning go hand in hand. As the owner of a closely held business, you likely have a significant portion of your wealth tied up in the business. If you don’t take the proper estate planning steps to ensure that the business lives on after …

Written by Kemper Web Team on Thursday June 16, 2022


Social Security Benefits: Do You Have to Pay Tax on Them?

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Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security benefits, the answer is: It depends. The taxation of Social Security …

Written by Kemper Web Team on Tuesday June 14, 2022


IRS Increases Mileage Rate for Remainder of 2022

Image: 2022-06/irs-gas-pump.jpg The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022, up to 62.5 cents. Click to read the full details on the IRS website.

Written by Kemper Web Team on Friday June 10, 2022


Contingent Liabilities: To Report or Not to Report?

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Disclosure of contingent liabilities — such as those associated with pending litigation or government investigations — is a gray area in financial reporting. It’s important to keep investors and lenders informed of risks that may affect a company’s future performance. But companies also want to …

Written by Kemper Web Team on Thursday June 9, 2022