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Scammers often pretend to be from the IRS to trick people into giving personal information or making payments. This common scam tactic exploits the fear of the IRS, causing individuals to react...

When planning for retirement, the choices you make can have lasting impacts on your financial future. One of the most pivotal decisions involves selecting the right type of Individual Retirement...

When you face tax-related issues, it can be confusing to decide whether to contact the IRS directly or seek the help of an accountant. While the IRS is a vital resource for specific tax concerns,...

Many small business owners know the anxiety that comes with the thought of a tax audit. The process can be stressful and time-consuming, but the good news is that audits are often avoidable with...

We are excited to announce that Knott CPA is relocating to a new office on October 28th. As our valued clients and partners, we want to ensure a smooth transition for everyone involved. Below, you...

As of January 1, 2024, a new reporting requirement under the Corporate Transparency Act (CTA) took effect. At Knott CPA, we know this change may raise questions, and we're here to provide clarity...

As the year quickly draws to a close, it's crucial to make sure your 401(k) plan is on track. Here are six key steps to take before the end of the year to maximize your retirement savings and...

As tax season comes to an end, the potential for IRS audits can become a concern for many. While audits are not common, they do happen, and it's important to be prepared. At Knott CPA, we want to...

Managing a 401(k) plan for your business can be challenging, especially when former employees leave their savings in your plan. While this might be convenient for some former employees, it may not...

Embrace the Post-Tax Season: Boosting Tax Efficiency As we close another tax season, it's crucial to remember that our work is far from over. Now is the perfect time...

As the sun shines brighter and the days grow longer, it’s the perfect time for business owners to consider hosting summer team-building activities. Not only are these gatherings great for morale,...

As April 15th swiftly approaches, it's not just another day on the calendar for individuals with business or other non-withheld income. For those who make estimated quarterly tax payments, this...

As the dust settles on another tax season, many of us are left wondering about the status of our tax refunds. Understanding how to track your refund can save you a lot of time and unnecessary...

In the ever-evolving world of financial planning, a significant change is on the horizon for families looking to optimize college savings through 529 plans. With the introduction of the 2022 SECURE...

The year 2024 brings significant changes to IRS policies regarding home energy audits, especially pertinent to high-income individuals. Knott CPA, a leading expert in tax advisory, delves into...

As we approach the year-end, it's a prime moment for high-net-worth individuals to contemplate and fine-tune their financial strategies. To ensure you're maximizing opportunities and minimizing...

As the leaves begin to change and the air turns crisp, it's a sure sign that fall is upon us. While many associate this season with pumpkin spice lattes and cozy sweaters, it's also an opportune...

In the world of business, understanding the ins and outs of your financials is essential. For entrepreneurs and business owners, a grasp of bookkeeping terminology can mean the difference between a...

If you're involved in the world of real estate investment, you've likely heard of the term "1031 tax exchange" or "like-kind exchange." But what does it really mean, and how can it benefit you in...

Running a successful business involves a lot more than just providing great products or services. Managing your finances, understanding tax implications, and making informed decisions about your...