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 […]
Updates to the Mileage Rates for 2022 Read More »
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.
Should I Pay Estimated Taxes? Read More »
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
Do You Know If You Need to File A 2021 Tax Return? Read More »
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
Choosing the Right Tax Preparer Read More »
Do you have a hobby that has become a source of income? If so, you’ll need to report that income on your tax return. According to the IRS, a hobby that generates income should be considered a business unless it does not make a profit for more than three to five years, or you had no intention
What You Need To Know About Your Hobby & Taxes Read More »
Due to the American Rescue Plan Act of 2021, the Child Tax Credit is expanded for just the 2021 tax year. What does this mean? The credit will increase for many eligible taxpayers. You may receive part of your tax credit before even filing your 2021 tax return. Children who turn 17 in 2021 will
Changes in Child Tax Credit – What You Need To Know Read More »
You may not yet be thinking about the upcoming tax season, but now is the best time to start planning for it. Preparing early will help make things go smoothly once it comes time to have your taxes done. While most of your paperwork will not be available at this time, there are still a
Get Ready Now For Filing Your Taxes in 2021 Read More »
Recently Ron did a tax planning seminar in conjunction with a local financial planner, watch it today. If you’re ready to start tax planning, give us a call today.
Tax Planning Seminar Read More »
COVID-19 has caused millions of Americans to seek unemployment compensation, and some are receiving it for the first time. Just like any other type of income, unemployment benefits are subject to taxes—including unemployment compensation received as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Below is a brief guide to help you
How to Handle Unemployment Compensation Read More »
The New Year is here and already we can’t believe how fast it is going! We wanted to take a moment to share with you the latest mileage rates for 2020. These rates went into effect January 1, 2020 and are important for you to know if you keep track of your mileage. If you’re
Mileage Rates for 2020 Read More »
