by Admin | Jan 7, 2023 | Individual Taxes, Tax Planning
WASHINGTON – The Internal Revenue Service recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation they received in 2020. The American Rescue Plan Act of 2021, which became law in March...
by Admin | Jan 3, 2023 | Individual Taxes, Tax Planning
Background – The Affordable Care Act (ACA) – also referred to as Obamacare) was enacted over 12 years ago, and one of its main features was the creation of government marketplaces (sometimes called exchanges) where Americans could purchase their health insurance...
by Admin | Dec 29, 2022 | Business Taxes, Tax Planning
The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving...
by Admin | Dec 29, 2022 | Business Taxes, Individual Taxes, Tax Planning
The Internal Revenue Service announced that interest rates will increase for the calendar quarter beginning January 1, 2023. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, up from 6% for the quarter that began on...
by Admin | Dec 27, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning
There’s an old saying that reminds us that there are only two certainties in this life: “death, and taxes.” Whoever coined that phrase couldn’t have known how true it was, particularly when it comes to the latter portion. The Internal Revenue...
