Vicki joined the Lewis & Knopf team in 2001. She joined as a firm administrative assistant and is now our firm’s Portal Administrator. She maintains and supports the firm’s client portal along with other administrative duties. What year did you join Lewis & Knopf? 2001—I’ve been here for almost two decades! Tell me a little…
Allison joined the Lewis & Knopf team in 2014. She specializes in providing audit, tax and small business services, including QuickBooks support, bookkeeping and payroll. Allison serves clients in a variety of industries, but her main focus is on medical and dental practices. What year did you join Lewis & Knopf? I joined the firm…
You already know how to determine whether your business is making or losing money overall: you run a Profit and Loss report. But what if you want to break this data down further? How can you tell whether the individual jobs you do for customers, with all their related income and costs, are profitable? This…
People often say that an expense is “a tax write-off”; most everyone interprets this to mean that the expense will have a tax benefit. Generally, such a benefit takes the form of either a deduction or a credit; these benefits’ effects are quite different, however, and each type has various categories. As a result, the…
At their core, tax credits are a very particular type of benefit designed to offset the actual tax liability associated with SMBs around the country. This isn’t the same thing as a tax deduction, which lowers that business’s actual income. Tax credits are typically offered to incentivize everything from hiring more workers in order to…
Children who are dependents of their parents are subject to what is commonly referred to as the kiddie tax. This generally applies to children under the age of 19 and full-time students over the age of 18 and under the age of 24. The kiddie tax originated many years ago as a means to close…
In the largest possible sense, handling the cash flow for your new business is exactly what it sounds like ‒ you’re trying to get the clearest level of visibility into “money coming in versus money going out” as possible. But managing cash flow is also about a lot more than that, too. It’s about making…
A taxpayer’s filing status for the year is based upon his or her marital status at the close of the tax year. Thus, if you get married on the last day of the tax year, you are treated as married for the entire year. The options for married couples are to file jointly or separately….
You have your 2018 tax return filed, or perhaps on extension, and now it is time to look forward to the changes that will impact your 2019 return when you file it in 2020. Keeping up with the constantly changing tax laws can help you get the most benefit out of the laws and minimize…
Kevin joined Lewis & Knopf in 2016 and currently serves as a manager. He assists clients in a variety of industries with their accounting, tax and audit needs. Prior to joining the firm, Kevin held accounting and purchasing positions in several industries including automotive aftermarket, construction and software development. He feels that his positive attitude…
