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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
Planning for Reverse Mortgages Due to current inflation rates, some individuals are suffering from cash flow issues. If you are age 62 or older and have […]