Resources

An Update from Cray Kaiser on COVID-19

Updated as of March 26, 2020. Thank you for your patience and understanding during this challenging time. We wish you, your family, and your business health and safety. We will continue to support you as best as we can while keeping each other’s health a priority.

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Smart Money Moves to Make When You Turn 50

Congratulations on making it to half a century! Your fifties can be a time of change. Maybe not having to work anymore sounds like a dream, but you might be concerned you don’t have enough saved for your upcoming retirement. Those concerns definitely aren’t unfounded as 40 million households in America have no retirement savings at all.

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Will Moving Out of Illinois Reduce Your Tax Burden?

Audio Blog: If you live and/or own a business in Illinois, you know that taxes have continued to rise. To put it simply, it’s a tough time to be a resident. That’s why many individuals and companies are looking for ways to move out of state and reduce their tax burden.

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How To Conceptualize Financial Results as a Small Business Owner

Successful entrepreneurs need drive, passion, the will to follow things through, and the hustler’s spirit that enables you to constantly try that new thing or relentlessly chase that next big opportunity. Not all entrepreneurs are numbers people, and that’s okay, because there are plenty of numbers people out there willing to offer support.

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Revolutionizing Your Accounting Processes with Automation & Applications

As a small business owner, you wear several hats ranging from accounting, marketing, and hiring. Accounting may not be your passion but keeping your books up to date and organized is crucial to your success. Meaningful financial statements can be a click away through applications and the automation of your accounting tasks. In this blog we’re providing an overview of a few ways to free up your time so you can spend it on other aspects of your business.

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Cray Kaiser Employee Spotlight: Dhruv Panchal

In Cray Kaiser’s Employee Spotlight series, we highlight a member of the CK team. We couldn’t be more proud of the team we’ve grown and we’re excited for you to get to know them. This month we’re shining our spotlight on Dhruv Panchal.

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A Primer on the Complexities of Gift Tax and Estate Tax

You likely already know that the tax code places limits on the amounts that individuals can gift to others (as money or property) without paying taxes. This limit is meant to keep individuals from using gifts to avoid the estate tax that is imposed upon inherited assets. It can be a significant issue for family-owned businesses when the business owner dies, and the business has to be sold to pay the resulting inheritance (estate) taxes. This is, in large part, why high-net-worth individuals invest in estate planning.

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The Unexpected Tax Consequences from Crowdfunding

Many crowdfunding platforms such as GoFundMe, Kickstarter and Indiegogo have fees ranging from 5% to 9%. Each platform specifies its own charges, limitations, and withdrawal processes. And in addition to those fees, funds raised may be taxable, depending on the purpose of the campaign. Here’s how each type of crowdfunding goal is taxed.

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Understanding Your Annual Social Security Letter

If you are receiving Social Security, then you have just recently received your annual letter from the Social Security Administration letting you know that your Social Security benefits for 2020 have increased by 1.6% as a result of a rise in the cost of living. The letter also lets you know how much will be withheld from your monthly retirement benefit for Medicare Parts B (medical insurance) and D (Prescription Drug Plan).

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