Your mailbox has started filling up with tax forms over the last several weeks and there are likely more to come. Getting your forms organized makes your tax filing easier for everyone involved. Here are…

While most of your federal income tax return may look very similar to past years, one mandatory question has been updated on the 2022 form. “Virtual currency” has been broadened to “digital assets.” If you’ve…

The 2022 tax filing season officially begins when the IRS starts accepting tax returns in late January and early February. There are many reasons to consider filing your tax return as soon as the IRS…

The Internal Revenue Service announced on December 29, 2022 an increase in the standard mileage rates for 2023.   2023 Mileage Rates The new standard mileage rate for business travel will be 65.5¢ per mile….

1099-K Reporting The American Rescue Plan included a provision requiring third-party settlement organizations (TPSOs) to issue Form 1099-K to all taxpayers for whom they processed at least $600 in payments for the calendar year.  A…

Planning to reduce your carbon footprint? Tax incentives for purchasing clean (electric) vehicles and installing high-efficiency home improvements have been extended and updated. Clean Vehicle Credit and New Limitations As part of the Inflation Reduction…