IRS Receiving A Lot Of Money, Thanks to The Inflation Reduction Act

by Admin | Aug 30, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning

President Biden signed into law the Inflation Reduction Act on August 16, 2022, in part which gives the IRS almost $80 billion spread over the next 10 years on top of its regular annual funding. The money is meant to be used for: Enforcement and collection measures...

What Does The Inflation Reduction Act Mean To You?

by Admin | Aug 24, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 which is a scaled-back version of the prior Biden administration proposals originally included in the Build Back Better Act. The legislation includes a variety of provisions,...

Minimum Wage Tracker: State and Federal

by Admin | Aug 23, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning

Please visit https://www.epi.org/minimum-wage-tracker/ to stay up to date on State and Federal minimum wage amounts. EPI is an independent, nonprofit think tank that researches the impact of economic trends and policies on working people in the United States. EPI’s...

Ways to Maximize Business Deductions

by Admin | Aug 18, 2022 | Business Taxes, Entrepreneurial, Tax Planning

As a small business owner, you should always be on the lookout for legitimate ways to minimize your taxes. Waiting for year-end to do your tax planning can be too late and you may miss many possible opportunities. The following are valuable tips that help you...

IRS announces interest rate increases for the fourth quarter of 2022; 6% rate applies to most taxpayers starting Oct. 1

by Admin | Aug 15, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning

IRS announces interest rate increases for the fourth quarter of 2022; 6% rate applies to most taxpayers starting Oct. 1. (2022, August 15). Internal Revenue Service. Retrieved August 15, 2022, from...

What Do You Do If the IRS Wants to “Audit” Your Tax Return?

by Admin | Aug 9, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Uncategorized

The word “audit” tends to strike fear in the hearts of American taxpayers, but the truth is that not every audit is a result of a problem, or that the Internal Revenue Service suspects you of wrongdoing. There are several reasons why the IRS might want to audit your...