Kansas Tax Update

Good news for all Kansas residents. The tax rates for 2013 have been reduced from 6.45% to 4.9% – a 25% tax savings.

All business (Schedule C), rental (Schedule E) and farm (Schedule F) income is excluded from Kansas tax. However, any losses from these businesses will no longer be deductible against KS tax.

Now the bad news….most KS tax credits for 2013 have been repealed such as the food sales tax rebate, adoption expenses and child daycare expenses.

For more information, please contact our office at 913.239.9130 or info@MCcpas.com & check out our website http://www.MCCpas.com

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