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Standard vs Itemize Deductions

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Is it better to take the standard deduction or to itemize deductions? It depends on your situation. The standard deduction amount changes yearly and is based on filing status and age. Itemizing is more complicated but if your total deductions exceed the standard deduction, you might save significan…

Written by Kemper Web Team on Thursday January 27, 2022



Numerous Tax Limits Affecting Businesses Have Increased For 2022

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Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security Tax The amount of an employee’s earnings that is subject to Social Security …

Written by Kemper Web Team on Tuesday January 25, 2022


How To Forecast Smarter

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Forecasting key business metrics — such as sales demand, receivables, payables and working capital — can help you reduce excess inventory and other overhead, offer competitive prices, and keep your business on solid financial footing. Although historical financial statements are often the starting …

Written by Kemper Web Team on Thursday January 20, 2022


Businesses With Employees Who Receive Tips May Be Eligible For A Tax Credit

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If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics Of The Credit The FICA credit applies with …

Written by Kemper Web Team on Tuesday January 18, 2022


With Proper Planning, A Charitable Remainder Trust Can Replicate A “Stretch” IRA

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The “stretch” IRA generally no longer exists. But if you have a substantial balance in a traditional IRA, a properly designed charitable remainder trust (CRT) can allow you to replicate many of its benefits. SECURE Act’s Effects On Stretch IRAs For years, a stretch IRA was an effective …

Written by Kemper Web Team on Thursday January 13, 2022



Defer Tax With A Like-Kind Exchange

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Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind” exchange where you exchange the property rather than sell it. With real estate prices up in some markets (and higher resulting tax …

Written by Kemper Web Team on Thursday January 6, 2022


Kemper Webinar - 2022 State Taxes and Nexus

Image: 2021-11/webinar-banner.jpg Please join us for a FREE webinar from Kemper CPA Group as we teach you to take a closer look at state taxes and how the new changes can impact your business.

Written by Kemper Web Team on Wednesday January 5, 2022


Kemper CPA Group LLP Merges in Yettke & Rapp LLC

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The partners and staff at Kemper CPA Group LLP are pleased to announce a merger with Yettke & Rapp LLC, effective January 2, 2022. Yettke & Rapp LLC has been serving Champaign and surrounding counties since 1994, and the merger strengthens Kemper CPA Group’s presence in the Champaign-Urbana …

Written by Kemper Web Team on Tuesday January 4, 2022