July 14, 2022
Starting in November 2021, Philadelphia began switching to a new tax system that allows taxpayers to manage their taxes online. The new Philadelphia Tax Center is […]
July 7, 2022
It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain circumstances. Unfortunately, under current law, you […]
July 5, 2022
If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by new tax reporting […]
June 28, 2022
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. […]
June 24, 2022
The IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring […]
June 21, 2022
The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being increased […]
June 17, 2022
Accounts payable is a critical area of concern for every business. However, as a back-office function, it doesn’t always get the attention it deserves. Once in […]
June 17, 2022
Applying for Tax-Exempt Status Entities applying for federal tax-exempt status should know the following: Organized and operated. To qualify for tax-exempt status under Code Sec. 501(c)(3), an […]
June 15, 2022
Standard business mileage rate will increase for the second half of 2022 The IRS recently announced that it’ll increase the standard mileage rate for qualified business […]