by briesterer | Dec 2, 2022 | Tax & Accounting
Here’s what business owners need to know about tax provisions for 2022: Standard Mileage Rates Due to inflation, there were two standard mileage rates in 2022: 62.5 cents per business mile driven (July 1-December 31, 2022) and 58.5 per business mile driven...
by briesterer | Dec 1, 2022 | Tax & Accounting
As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2022. Personal Exemptions Personal exemptions are eliminated for tax years 2018 through 2025. Standard Deductions The standard...
by briesterer | Nov 10, 2022 | Tax & Accounting
Eligible Families Can Claim Tax Benefits Until Nov. 17th. Starting in October, more than 9 million letters were sent out by the IRS to individuals and families who appear to qualify for a variety of key tax benefits – but did not claim them by filing a 2021...
by briesterer | Nov 4, 2022 | Tax & Accounting
Understanding IRAs: Terms to Know IRAs, or Individual Retirement Arrangements, provide tax incentives for people to make investments that can provide financial security for their retirement. To help people better understand this type of retirement savings account,...
by briesterer | Nov 3, 2022 | Tax & Accounting
Several end-of-year tax planning strategies are available to business owners to reduce their tax liability. Let’s take a look: Deferring Income Businesses using the cash method of accounting can defer income into 2023 by delaying end-of-year invoices so that...
by briesterer | Nov 2, 2022 | Tax & Accounting
With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies that could reduce your tax bill for 2022. General Tax Planning Strategies General tax planning strategies for individuals include accelerating or deferring...
