Kallsen & Associates, CPA's, LLP

Kallsen & Associates, CPA's, LLP Certified Public Accountants, Enrolled Agent, QuickBooks Pro-Advisors, Business Advisors

We guide paths by providing Professionals who actively engage themselves in benefitting and enhancing Individuals and Businesses with Financial Satisfaction. Mission

"We are here to help you-and your business-prosper!"

Vision

To be premier management advisors for privately owned growth enterpirses. To provide timely, valued advice, training and compliance services to help businesses and indivi

duals prosper. We will provide coaching, consulting,measurement and compliance assitance aligned with the vision of the individual and business. Values

Clients, Vision, Teamwork, Service

Cause

We empower our clients to improve their business and personal success by developing their business skills. With effective skills, we help our clients understand complex accounting and tax issues so they can turn our knowledge into value. Our clients get professional assistance to ensure their long-term business and financial success. We help them maximize their cash potential, increase efficiency and minimize their tax liability.

Small business owners, beware: Tax identity theft is a costly, ongoing threat. Criminals may file fraudulent returns usi...
06/18/2026

Small business owners, beware: Tax identity theft is a costly, ongoing threat. Criminals may file fraudulent returns using a business’s EIN, impersonate executives to steal employee W-2 data, or use forged IRS documents to pose as a business for financial or tax-related activity. Protect your organization by implementing a cybersecurity plan, securing sensitive data, training employees and using technology tools such as encryption and multi-factor authentication. Working with a trusted tax professional is also critical. We can review your risks, recommend safeguards and determine the next steps if something looks suspicious. Contact us at (712) 336-2632 to learn more.

For small business owners, tax planning shouldn’t be a once-a-year chore. It affects nearly every business decision you ...
06/17/2026

For small business owners, tax planning shouldn’t be a once-a-year chore. It affects nearly every business decision you make. From how you pay yourself to when you invest in equipment, the right moves can lower your tax bill … and the wrong ones can cost you. With major tax law changes taking effect in 2026, now’s the time to be proactive, not reactive. We can help you understand which strategies, deductions and credits matter most for your business. Call us at (712) 336-2632 to learn how smart planning today can lead to long-term tax savings.

If your child recently graduated from high school and is planning to attend college next fall, consider creating a basic...
06/16/2026

If your child recently graduated from high school and is planning to attend college next fall, consider creating a basic estate plan before he or she leaves home. Perhaps the most critical document is a health care power of attorney. Children age 18 or older are usually treated as adults. So without a health care power of attorney, you might have no say in your child’s medical treatment should he or she become incapacitated. This document (sometimes referred to as a “health care proxy” or “durable medical power of attorney”) allows your child to appoint someone — such as you — to make health care decisions on his or her behalf. Call us at (712) 336-2632 for more details.

Are you behind on federal tax payments or worried about defaulting on an IRS installment agreement? You might have more ...
06/15/2026

Are you behind on federal tax payments or worried about defaulting on an IRS installment agreement? You might have more options than you realize. If your finances have changed, the IRS may let you adjust your payment plan to lower monthly payments or a new schedule. If your agreement is terminated, you can request reinstatement. You can also consider an offer in compromise, which may allow you to settle for less than you owe. If you’re facing serious financial trouble and can provide evidence of undue hardship, the IRS sometimes allows up to six months to pay. It helps to act early. Call us at (712) 336-2632 with questions.

Does your business own commercial real property? A closer look at your building costs could change how quickly you can d...
06/11/2026

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.

Call us at (712) 336-2632 to discuss whether this strategy is right for your business. We can determine reasonable cost allocations to help withstand IRS scrutiny.

It’s almost never too late to start planning for retirement. Whether you already have large 401(k) or IRA balances or ar...
06/10/2026

It’s almost never too late to start planning for retirement. Whether you already have large 401(k) or IRA balances or are starting from scratch, we can help craft a strategy that reflects your personal situation and addresses your goals. So start thinking about what’s important to you: Building a big nest egg, reducing income tax liability, something else … We’re here to help make it possible!

Powers of appointment can add valuable flexibility to an estate plan by allowing a trusted individual (the “holder”) to ...
06/09/2026

Powers of appointment can add valuable flexibility to an estate plan by allowing a trusted individual (the “holder”) to adjust how assets are distributed after your death, based on changing circumstances. These might include marriages, births, financial needs or changing tax law. Powers of appointment may be general or limited. A general power of appointment allows the holder to distribute assets to anyone and can cause the assets to be included in the holder’s taxable estate — even if the holder doesn’t execute the power. Limited powers have certain restrictions. In most cases, they don’t allow holders to distribute assets for their own benefit. Call us at (712) 336-2632 for more details.

Are tax problems weighing on you? If you’re facing IRS notices, unfiled tax returns or mounting tax debt, acting quickly...
06/08/2026

Are tax problems weighing on you? If you’re facing IRS notices, unfiled tax returns or mounting tax debt, acting quickly can make a difference. We can help you evaluate resolution options and work with the IRS to possibly reduce the burden. Call us at (712) 336-2632 to discuss your situation and explore next steps.

C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales m...
06/04/2026

C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales may qualify for a special gain exclusion. To be eligible for this break, certain requirements must be met.

QSB stock acquired after Sept. 27, 2010, may be eligible for a 100% gain exclusion if it’s held for at least five years. Under recent tax law changes, QSB stock acquired after July 4, 2025, may be eligible for a partial gain exclusion if it’s held for at least three years.

Call us at (712) 336-2632 to learn whether this tax-saving strategy is right for your business. We can help structure your business to unlock the potential tax savings and navigate the complex rules.

Technology decisions are a common pain point for small business owners. You might be unsure when to invest in new techno...
06/03/2026

Technology decisions are a common pain point for small business owners. You might be unsure when to invest in new technology and how much to spend. After all, there’s nothing worse than a “solution” that doesn’t solve anything. Poor choices can lead to wasted money, time and staff effort. The good news? You can avoid this situation with a thoughtful, strategic approach to technology selection and implementation. Call us at (712) 336-2632 to discuss your needs, set a realistic budget and take the right steps to get a sound return on investment.

Address

605 Lake Street, Ste 6
Spirit Lake, IA
51360

Opening Hours

Monday 8:30am - 5:30pm
Tuesday 8:30am - 5:30pm
Wednesday 8:30am - 5:30pm
Thursday 8:30am - 5:30pm

Telephone

(712) 336-2632

Website

Alerts

Be the first to know and let us send you an email when Kallsen & Associates, CPA's, LLP posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Kallsen & Associates, CPA's, LLP:

Shortcuts

Share

Category