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…

The earlier the better when it comes to adopting a strategy to reduce your taxes. But even if time is short, there are some last-minute tax cutters you might consider:   Adjust the timing of…

Tax season is right around the corner which means it is time to start thinking about getting your finances in order. There are many components to keep track of throughout the year that can easily…