by Admin | Dec 21, 2021 | Individual Taxes, Tax Planning
Disabled individuals, as well as parents of disabled children, may qualify for a number of tax credits and other tax benefits. Listed below are several tax credits and other benefits that are available if you or someone listed on your federal tax return is disabled....
by Admin | Dec 21, 2021 | Business Taxes, Individual Taxes
The start of the new year means an increase to the minimum wage in Virginia. The minimum wage will increase from $9.50 to $11.00 an hour on January 1, 2022. It will increase to $12.00 an hour in 2023.
by Admin | Dec 16, 2021 | Individual Taxes, Tax Planning
Required Minimum Distributions (RMD) are required taxable distributions from qualified retirement plans and are commonly associated with traditional IRAs, but they also apply to 401(k)s and SEP IRAs. The tax code does not allow taxpayers to indefinitely keep funds in...
by Admin | Dec 14, 2021 | Business Taxes, Individual Taxes
Some holiday gifts you provide to members of your family, employees and others may also yield tax benefits—think of it as Santa Claus meets Uncle Sam. Here are some examples: Electric Car Credit* – If you purchase a new electric car as a holiday gift for your spouse...
by Admin | Dec 9, 2021 | Individual Taxes, Tax Planning
A common question among parents is, “How might I save for a child’s post-secondary education in a tax beneficial way?” The answer depends on how much the education is expected to cost and how much time is left until the child heads off to college or a university or...
