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Business Mileage Rate Is Up for 2025
The IRS has issued the 2025 cents-per-mile rates that can be used to calculate tax-deductible vehicle operating costs. Effective Jan. 1, 2025, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 70 cents per mile. This is up...
What Is the Net Investment Income Tax?
While the Net Investment Income Tax (NIIT) most often affects wealthier individuals, in certain circumstances, it can also affect moderate-income taxpayers...
State Payments Excluded From 2022 Federal Returns
Taxpayers in 21 states received special payments related to general welfare and disaster relief in 2022. However, according to recently issued guidance from...

