Many of our clients are small business owners. And we know from our years of experience it takes a lot of knowledge and resources to manage a business well. Owners need time to focus on the business at hand, and our services can support the financial side. At Adams Accounting Solutions, we partner with small businesses to put a proper accounting structure in place. We also manage income taxes for many of our clients as well!
It’s important to be curre
nt on tax law to be successful. We stay up-to-date on tax issues so we can serve our clients best. Currently, the Kansas legislature is trying to repeal the tax break for small businesses (S-Corps, partnerships and Schedule C businesses) that was put in place to attract more businesses to Kansas.
The legislature has tried to pass a bill related to this several times, but it has not passed both houses or has been vetoed by Governor Brownback. The goal of the new tax bill is to help make up a $900-million shortfall in the state. It seems from following along that eventually this will get passed and the Kansas small business owner will start paying taxes again. In fact, we feel like some version of this will pass in 2017.
We’re available to meet with you anytime to discuss how this change could impact your small business and what you can be doing to prepare for the potential change. Call us at (913) 888-9100 to schedule a time convenient for your schedule.
