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Taxable vs. Nontaxable Income
Are you wondering if there's a hard and fast rule about what income is taxable and what income is not? The quick answer is that all income is...
How Filing Status Affects Your Tax Return
A taxpayer's filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax...
Standard vs. Itemized Deductions
When completing a tax return, taxpayers have two options: take the standard deduction or itemize their...
Tax Breaks for Older Adults and Retirees
Everyone wants to save money on their taxes, and retirees and older adults are no exception. If you're 50 or older, here are six tax tips that could...
Highlights of the Secure 2.0 Act of 2022
The $1.66 trillion Consolidated Appropriations Act, 2023, was signed into law on December 29, 2022, by President Biden. Included in the 4,155-page...
Businesses: Important Tax Changes in 2023
Here's what small business owners need to know about tax law changes and inflation adjustments for the year ahead. Standard Mileage Rates In 2023,...
Individual Taxpayers: Tax Changes for 2023
Every year, it's a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings...
Getting Ready for the 2023 Tax Filing Season
Filing your 2022 tax return promises to be just as complicated as always; however, there are steps that...
Improperly Forgiven PPP Loans Are Taxable
Recipients of Paycheck Protection Loans (PPP) should be aware that when a taxpayer's loan is forgiven based upon misrepresentations or omissions,...