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KBST&M CPA's & Consultants

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Timonium, MD
KBST&M CPA's & Consultants

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Certified Public Accountants & Consultants

We are KBST& M, a full-service public accounting firm serving businesses, nonprofit organizations and individuals in the Baltimore/Washington metropolitan area and throughout the United States. Our experienced partners are dedicated to overseeing every aspect of your financial interests and we operate under the premise that every situation is unique; requiring services tailored to your needs.

10/21/2026

In business, the accounting cycle is used to record, organize and summarize financial activity for a specific period. It’s designed to produce accurate data so owners can better understand performance, manage cash flow effectively and make viable plans. Although the level of detail can vary, you should usually follow these six steps: 1) Gather source documents, 2) post transactions to your general ledger, 3) generate a trial balance, 4) adjust the general ledger, 5) prepare financial statements, and 6) close the books. Be sure to document who performs each step. Contact us for help developing easy-to-follow procedures.

10/20/2026

As the year draws to a close, your employer’s 401(k) plan may offer an opportunity to reduce your 2026 income taxes. If you haven’t been contributing, it may not be too late to start. And if you’re already contributing, increasing the amount you contribute from each paycheck before year end could boost your 2026 tax savings. If your employer matches contributions, try to contribute at least enough to receive the maximum match. Otherwise, you’ll lose out on free money! Check with your employer about deadlines and available options. We can help you evaluate the tax implications and determine whether increasing your contributions makes sense for your situation.

10/19/2026

The IRS recently announced special per diem travel rates that are effective from Oct. 1, 2026, through Sept. 30, 2027. Under the simplified high-low method, employers can use two per diem rates to reimburse employees for lodging, meals and incidental expenses for business travel within the continental U.S. The new rate is $329 for high-cost localities and $230 for all other areas. In some locations, the high-cost rate applies only for certain periods of the year. The high-low method can simplify expense reimbursements and reduce paperwork, but you must follow specific IRS rules and restrictions. Contact us to help determine whether this method is right for your business.

10/14/2026

Are you separating or divorcing this year? Decisions made before your divorce is finalized can affect your 2026 income tax liability and your tax situation in future years. Some of the most critical tax issues to consider as you work through a separation or divorce are related to: 1) tax filing status and, if you have dependent children, who’ll claim them for tax purposes, 2) support payments, 3) home ownership, 4) retirement accounts, and 5) business interests. We can help you evaluate the tax consequences of your separation or divorce so you can make informed decisions before year end. Contact us to get started.

10/12/2026

It’s time to address year-end tax planning, especially if your business is booming. Start by projecting your 2026 tax obligation and assessing whether estimated payments made throughout the year are sufficient. You may need to adjust your fourth payment to potentially avoid (or minimize) underpayment penalties.

Also consider tax-reduction strategies, such as timing revenue and expenses, taking advantage of the qualified business income deduction, contributing to a retirement plan and leveraging first-year depreciation write-offs for eligible asset purchases.

These moves require careful coordination, so contact us to explore your options. We can help develop a plan tailored to your situation.

10/08/2026

A donor’s pledge can affect your nonprofit’s records before cash even arrives. Under U.S. GAAP, unconditional pledges generally create contribution revenue and a receivable. Conditional pledges are generally recognized when their conditions are substantially met. Restrictions on how or when funds may be used affect revenue classification, not recognition timing. Support pledges with verifiable documentation, evaluate collectibility and discount longer-term payments to present value. Keep fundraising and accounting staff informed of changes that could affect payment. Contact us for help accounting for pledge agreements and preparing related financial statement disclosures.

10/07/2026

Interim financial reports produced monthly or quarterly can provide your business with more timely information than year-end financial statements. You can use this data to spot emerging problems and opportunities. Compare each interim report with your budget and financial reporting from the same period of the previous year. Account for seasonality, but don’t focus solely on revenue. Higher labor costs or excessive discounting may increase sales while profit margins shrink. Unexpected results in interim reports don’t necessarily signal a crisis, but you should investigate them. Contact us for help setting up interim reports and interpreting them.

10/06/2026

Retirement is far from most teenagers’ minds when they get their first jobs. But those early earnings create a significant tax-advantaged savings opportunity. Even modest IRA contributions now can substantially multiply over time. For example, just $2,000 contributed to an IRA earning 5% annually will grow to nearly $23,000 50 years later. A Roth IRA can be especially powerful because qualified distributions will be tax-free. For 2026, the annual contribution limit for IRAs is the lesser of taxable compensation or $7,500. 2026 contributions can be made until April 15, 2027, but the income to support them must be earned by Dec. 31, 2026. Contact us to discuss tax-smart planning for your teen.

10/05/2026

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper preparation, detailed records and professional guidance, you can make the process far less stressful.

Some returns may be selected randomly, but the IRS also has some audit hot buttons. Examples include significant differences between current and prior-year returns, repeated business losses, profit margins and expenses that differ substantially from similar businesses, and mathematical errors.

If you receive an IRS notice, don’t panic; contact us immediately. We can help you understand the issues, gather the needed documents and respond to the inquiries effectively.

10/02/2026

We had a great time connecting with students at the recent Accounting Career Fairs at Stevenson University and Towson University! 🎓✨

It was a pleasure meeting so many talented students, sharing more about our firm, and discussing the exciting opportunities available in the accounting profession.

Thank you to Stevenson University and Towson University for having us — we enjoyed being on campus and connecting with the next generation of accounting professionals! 📚💼

Address

307 International Circle, Suite 620
Timonium, MD
21030

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+14103080300

Website

facebook.com

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