Cray, Kaiser Ltd.

Did your business pay tax penalties or interest between 2020-2023?

In Kwong v. United States, a court found that the IRS may not have correctly applied pandemic-era deadline extensions when assessing certain penalities and interest. That could mean some of the assessments shouldn't have been charged at all.
This is a time-sensitive issue since July 10, 2026, is expected to be a key date for making a claim in many cases. This refund wouldn't be automatic, so eligible taxpayers would need to take action. The IRS is appealing the decision, so the law is still developing. Read our blog to find out more and reach out to us if you think this might apply to you. https://hubs.li/Q04hZxsz0

Is your period-end close stressful or does it depend on only a few people? You're not alone. It's not a people problem; it's a structure problem.
Our latest blog talks about the foundational fixes that can help your numbers inform decisions and be something leadership can rely on. Read the full blog to learn how a stronger close process can bring confidence to your financial reporting: https://hubs.li/Q04hYXk80

What's your business actually worth and how do you find out?
In our audio blog, Jason Hofferica, CPA and Certified Valuation Analyst at CK, pulls back the curtain on business valuations.

A few things he covers:
🔹 Why a valuation is an estimate, not a precise number and why that's okay
🔹 What is fair market value
🔹 Why comparing a small business to publicly traded companies is a mistake
🔹 How equipment is valued and why that matters

Whether you're thinking about buying, selling, gifting shares or just planning ahead for estate purposes, understanding how valuations work puts you in a stronger position at the table.

🎧 Give the audio blog a listen on our website. https://hubs.li/Q04gGPWg0

We're thrilled to share that Maria Gordon, tax manager at CK, has been named a member of the Illinois CPA Society's Taxation State & Local Committee. We're grateful for Maria's continued commitment to the profession and excited to see the impact she will make. Congratulations, Maria! We couldn't be prouder!

Whether you're planning to sell, transition ownership or thinking ahead, it's important to understand your company's value in order to make informed decisions. In our latest audio blog, Jason Hofferica, an assurance manager at CK, explains that a valuation isn't just about numbers. It's about understanding your business from every angle, including market conditions, industry trends and the true earning potential behind the financials. Listen to the full audio blog to learn more. https://hubs.li/Q049C7KN0

Your numbers shouldn't just sit in a spreadsheet, they should help your business grow. Our latest blog highlights the five financial reports every business owner should check each month to stay on top of cash flow, revenue and overall financial health.
Check it out: https://hubs.li/Q046DNlj0

Your accounting should do more than tell you what happened; it should guide where your business is going.
Learn how business owners can use financial reporting, KPIs and forecasting to make informed decisions and guide long-term success.
https://hubs.li/Q046DF9D0