Kelly King & Co.

Kelly King & Co. Dedicated Partner to Small Businesses Kelly King & Co. Convenient appointment times are available, so call Kelly King & Co. today.

offers leading accounting and tax services in Crestwood, KY, and the surrounding areas, specializing in financial planning, bookkeeping, tax preparation, and various accounting needs. We have served Oldham and Jefferson counties since 1980 and have established a great, reputable status of distinction! Services:
Bookkeeping
Income Tax Preparation
Convenient Appointment Times Available
CPA
Financial

Statements
Payroll
Small Business Consulting


Specialties:
Serving Small Businesses, Residential, and Commercial

Certification:
Certified Public Accountants

Professional Associations:
BBB A+ Rating
Kentucky Society of Certified Public Accountants
National Federation of Independent Business (NFIB)

Are you thinking about selling your commercial or investment real estate? If the property has appreciated significantly,...
06/16/2026

Are you thinking about selling your commercial or investment real estate? If the property has appreciated significantly, a Sec. 1031 like-kind exchange may allow you to defer tax on some or all of the gain. With this transaction, you exchange the property for another qualifying property, generally deferring tax until the replacement property is sold.

But common misconceptions about Sec. 1031 exchanges can lead to missed opportunities or costly mistakes. For example, the property types don’t have to be identical, and receiving cash or debt relief (“boot”) may trigger taxable gain.

We can help demystify this tax strategy and determine whether it’s right for your situation. Contact us to learn more.

Many parents don’t know that the “kiddie tax” exists. Others assume it affects only minor children. But it also can appl...
06/10/2026

Many parents don’t know that the “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, the child’s unearned income in excess of $2,700 (for 2026) is taxed at the parent’s tax rate, if higher.

If your child has investment income from custodial accounts, consider reviewing the types of investments in those accounts. Growth-oriented investments that generate little current income may help reduce exposure to the kiddie tax until your child is old enough that the tax no longer applies.

If you’d like help evaluating your family’s situation, contact us.

If you participate in a company 401(k) plan, there may be an option to add to your retirement nest egg that you’re not a...
06/02/2026

If you participate in a company 401(k) plan, there may be an option to add to your retirement nest egg that you’re not aware of: after-tax, non-Roth contributions. These contributions aren’t subject to the annual elective deferral limit ($24,500 for 2026, plus catch-up contributions if you’re age 50 or older). So, if your plan allows, you can make them after you’ve maxed out your deferral limit, including catch-up contributions, if applicable. They create tax basis in your account that can eventually be withdrawn tax-free. And growth on the money won’t be taxed until you start taking withdrawals. We can review your situation and help you determine whether you might benefit.

Scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to crea...
05/26/2026

Scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensitive information or sending money.
Remember, the IRS will never contact you by email or text about a tax bill or refund. It also won’t demand immediate payment over the phone. Most IRS communications are sent through regular mail — though fraudsters may send fake IRS notices by mail, often including QR codes.
Don’t click on links, open attachments or scan QR codes from unknown senders that might direct you to fraudulent websites designed to steal personal or financial information. Contact us if you have questions.

Certain “small businesses” may qualify for several valuable tax breaks. But different tax provisions use different size ...
05/19/2026

Certain “small businesses” may qualify for several valuable tax breaks. But different tax provisions use different size tests.

For instance, a gross receipts test is used to determine eligibility for cash accounting, simplified inventory rules, the completed contract method, relief from UNICAP requirements and exemption from the business interest deduction limitation. This threshold is adjusted for inflation. For 2026, your business may be eligible if its average annual gross receipts for the prior three-year period were $32 million or less.

Contact us to help evaluate your eligibility for these and other tax-saving opportunities based on your business’s structure and operations.

Does your business own commercial real property? A closer look at your building costs could change how quickly you can d...
05/05/2026

Does your business own commercial real property? A closer look at your building costs could change how quickly you can deduct those expenses.
Business buildings generally have a 39-year depreciation period. A cost segregation study separates various building components, such as electrical systems and flooring. It then allows these components to be reclassified and deducted over a much shorter period, thereby deferring taxes and boosting cash flow. Recent tax law changes enhanced these benefits by increasing first-year depreciation write-offs.
Contact us to discuss whether this strategy is right for your business. We can determine reasonable cost allocations to help withstand IRS scrutiny.

Large stock market gains in recent years, coupled with volatility in 2026, may have left you with a portfolio that’s out...
04/28/2026

Large stock market gains in recent years, coupled with volatility in 2026, may have left you with a portfolio that’s out of balance with your desired asset allocation. If you haven’t rebalanced recently, it may be time. Careful planning can minimize the tax cost.
Say your portfolio is overweighted in large-cap U.S. stocks. You can save 2026 taxes if you sell some of this appreciated stock from a retirement account because the gain won’t be taxed. If you need to sell the stock from a taxable account, see whether there are assets in the account you can sell at a loss. The recognized loss can offset some or all of your capital gains.
Contact us to discuss other tax-smart strategies.

Here are a few key tax-related deadlines for individuals for the rest of 2026. JUNE 15: Pay the second installment of 20...
04/21/2026

Here are a few key tax-related deadlines for individuals for the rest of 2026. JUNE 15: Pay the second installment of 2026 estimated taxes, if applicable. SEPT. 15: Pay the third installment of 2026 estimated taxes, if applicable. OCT. 15: File a 2025 income tax return and pay any tax, interest and penalties due if an automatic six-month extension was filed. DEC. 31: Incur various expenses that potentially can be deducted on your 2026 tax return. Contact us for more information about the filing requirements and to help ensure you meet all deadlines that apply to you.

After you’ve filed your 2025 tax return, what’s next? Here are a few to-dos: 1) Check your refund status by going to irs...
04/14/2026

After you’ve filed your 2025 tax return, what’s next? Here are a few to-dos: 1) Check your refund status by going to irs.gov and either logging into your IRS account or using the refund tracker. 2) If you forgot to report some deductible 2025 expenses (or anything else), file an amended tax return to claim those deductions and potentially increase your refund. 3) Store your return and supporting documents in a secure place where you’ll easily be able to find them if needed. 4) Turn your tax focus to 2026 planning. We can help project your income, deductions and credits for the year and propose strategies you can implement in the coming months to reduce your taxes. Contact us to get started.

Companies that engage in research and development activities may qualify for a federal tax credit for some of those expe...
04/08/2026

Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The research credit is complicated to calculate, and not all research activities are eligible. But the tax savings can be significant. Certain taxpayers may even be able to use the credit to offset employer-paid payroll taxes or the owners’ alternative minimum tax obligations.
We can help you navigate the complexities of claiming this credit, including how it works, which costs may qualify and how it interacts with the deduction for research and experimentation costs. Contact us to discuss your business’s eligibility and quantify the potential benefits.

Address

6321 Highway 329
Crestwood, KY
40014

Opening Hours

Monday 8:30am - 12pm
1pm - 4:30pm
Tuesday 8:30am - 12pm
1pm - 4:30pm
Wednesday 8:30am - 12pm
1pm - 4:30pm
Thursday 8:30am - 12pm
1pm - 4:30pm
Friday 8:30am - 12pm

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