Kirkland & Company

10/30/2023

Just wondering if Congress will ever act to put a limit on credit card interest and fees. Consumer credit card debt is over $1 trillion this year (and rising) and most consumer interest expense is non-deductible on the individual tax return. At the same time, credit card companies have profits that are higher than their pre-pandemic levels. 😐

The Consumer Financial Protection Bureau (CFPB) today released its biennial report to Congress on the consumer credit card market.

03/08/2023

02/28/2023

Would you rather do anything than deal with your taxes? Why? No matter whether you have a CPA or not, some small business owners would rather have a root canal than deal with their taxes. Our advice - start getting organized early in the year - March starts tomorrow and you can make a plan to get organized. Start small by cleaning your office. A clear desk leads to a clear mind.

Many small business owners dislike tax time so much that they would rather get a mullet haircut or a root canal.

06/20/2022

We suggest to our clients that they handle everything via electronic methods, whenever possible. Mailing anything to our taxing agencies doesn't work well anymore. They are resource-challenged like the rest of us.

Difficulties in working with a resource-challenged Internal Revenue Service have become a more pressing concern for CPA firms over the past year, even as they grapple with lingering impacts from the pandemic, a new survey by the AICPA & CIMA shows.

05/27/2022

05/26/2022

Consider taking a few minutes out of your Memorial Day to remember those who made the ultimate sacrifice for our freedom. Here's a local schedule for Longmont.

05/16/2022

This Memorial Day weekend is an excellent time to remember those who made the ultimate sacrifice for our freedom. 🇺🇸

04/07/2022

As of March 25, the IRS said it had 7.2 million unprocessed individual returns.

If your return is stuck in last year's unprocessed backlog, your current year return could be rejected when you try to e-file.

This year, more than ever, the IRS wants people to file electronically. But a big processing glitch is preventing some taxpayers from filing. Here's the quick fix for the problem.

04/07/2022

Want that tax refund quickly? The fastest way to get a tax refund is by filing electronically and choosing direct deposit.

COVID Tax Tip 2022-54, April 7, 2022 — The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process

04/05/2022

It would be good for our country's future if a financial literacy class was mandatory in every state. Congratulations to Floridians!

03/23/2022

Brent Schutte, Chief Investment Strategist, Northwestern Mutual says the Fed is forecasting SIX rate hikes in 2022! 😅😳

The clarity of the Federal Reserve’s inflation-fighting interest rate boost buoys markets, but the Ukraine war continues to cast a pall.

03/09/2022

It's not tax, but tax season doesn't last forever...thank goodness!

Yes. On December 27, 2021, President Biden signed into law S. 1605 “The National Defense Authorization Act for Fiscal Year 2022” (NDAA). Section 641 of the NDAA makes Gold Star families and veterans eligible for lifetime passes to federal recreational lands. It will be several months before the ...