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...
by Admin | Aug 11, 2022 | Retirement, Tax Planning
Tax law requires individuals who have reached age 72 to begin taking minimum distributions from their traditional IRA accounts. These are referred to as a required minimum distribution or RMD. The RMD amount is the value of the IRA account on the last day of the prior...
by Admin | Aug 10, 2022 | Business Taxes, Tax Planning
What business owners need to do when closing their doors for good. (2022, August 10). Internal Revenue Service. Retrieved August 10, 2022, from https://www.irs.gov/newsroom/what-business-owners-need-to-do-when-closing-their-doors-for-good “There are a few things...
by Admin | Aug 10, 2022 | Individual Taxes, Tax Planning
New school year reminder to educators; maximum educator expense deduction rises to $300 in 2022. (2022, August 10). Internal Revenue Service. https://www.irs.gov/newsroom/new-school-year-reminder-to-educators-maximum-educator-expense-deduction-rises-to-300-in-2022...
by Admin | Aug 4, 2022 | Business Taxes, Tax Planning
With a potential recession on the horizon, most small businesses, in particular, are looking for avenues to cut costs wherever they can. However, that doesn’t mean that your business can’t still grow – you just have to be savvy about how you do it....
by Admin | Aug 2, 2022 | Individual Taxes, Tax Planning
If you are financially well off, you may want to gift money or property to family members or others you care about. If that is the case, there are some gift tax issues you should be aware of. Oh yes, the government even taxes gifts if they are large enough, so it is...
