Kim & Lee, LLP

Providing tax, assurance, financial advisory and management consulting services to businesses world-wide Tax Compliance & Planning State & Local Tax C Corporation, S Corporation Or Partnership? Which Entity Makes The Most Sense For Your Business? The choice of entity is among the most important decisions facing taxpayers when starting a business or investment activity The choice of tax entity generally includes a C corporation, S corporation or partnership, each having its own advantages and disadvantages that must be evaluated in terms of…

• C Corporation, S Corporation Or Partnership? Which Entity Makes The Most Sense For Your Business? IRA Issues Additional Guidance On The Employee Retention Credit The IRS issued Notice 2021-49, which provides long overdue guidance for employers that have taken or are considering taking the employee retention credit (ERC) as initially made available under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and modified and extended under the American Rescue Plan Act of 2021 (ARPA)…

• IRA Issues Additional Guidance On The Employee Retention Credit IRS Releases Procedural Guidance On Changing Ads Method Of Accounting For Electing Real Property Trade Or Business The IRS released an advance copy of Rev Proc 2021-28, providing guidance for taxpayers on how to change their method of computing depreciation to a 30-year recovery period under the alternative depreciation system (ADS) for certain residential rental property placed in service before 2018 and……

• IRS Releases Procedural Guidance On Changing Ads Method Of Accounting For Electing Real Property Trade Or Business We are an independent member of the BDO Alliance USA, a nationwide association of independently-owned local and regional accounting, consulting, and service firms with similar client service goals The BDO Alliance USA brings us the necessary tools to help us better serve our clients with greater flexibility, efficiency, and cost-effectiveness