With a new year comes changes to mileage rates. This year, due to inflation and gas prices we are seeing a larger jump in the rates. If you remember our blog back in the summer, the IRS announced a midyear increase from 58.5 cents per mile to 62.5 cents per mile for business travel. That […]
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Organizing your information ahead of time is key to helping your tax professional be successful when working on your taxes. Prior to your appointment, follow the steps below to ensure that you have everything you need readily available. What do you need before going to a tax professional? Documents According to the IRS website, here
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The IRS has announced a change in the standard mileage rate for the final six months of 2022. Effective July 1, the standard mileage rate will be increased to 62.5 cents per mile, up 4 cents from 58.5 cents at the beginning of 2022. Along with this increase, the IRS has also raised the mileage
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Many individuals pay estimated taxes throughout the year. For many more, they may not know they can pay them as well and save money. If you’re not sure what estimated taxes are, they are a way for you to pay in for any taxes you may owe, that are not subject to payroll withholding taxes.
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Tax season is in full swing! If you haven’t started working on your 2021 tax return, you should do so as soon as you can—the tax filing deadline is coming up on April 18th. You may actually be wondering if you need to file a 2021 tax return. If you are under 65 and filing
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Tax season is here! Now is the time to start (or finish) collecting your tax return paperwork. It’s also time to reach out to your tax professional to schedule your appointment. But how do you know who is the right tax professional to choose? There are some factors you need to know and questions to
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The end of the year is almost here and there is still time to do some tax planning for your small business. These tips will help you save in taxes and help keep more of your hard-earned money in your pocket. Bonus Depreciation Do you need computers, equipment, furniture, or other assets to keep your
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