Get ready to file your 2022 tax return! The IRS has announced that the 2023 tax season begins on Monday, Jan. 23. As always, taxpayers are encouraged to file well in advance of the...
Many businesses stick with their accounting software too long because it’s familiar and just good enough. But, when it comes to accounting system upgrades, timing is everything. Although you don’t want to spend money...
The IRS has issued the 2023 optional cents-per-mile rates used to calculate the tax deductible costs of operating a vehicle. Effective Jan. 1, 2023, the standard mileage rate for the business use of a...
To help you make sure you don’t miss any important 2023 deadlines, we’ve provided this summary of when various tax-related forms, payments, and other actions are due. Please review the calendar and let us...
The IRS is reminding those who were born in 1950 or earlier that they must soon begin taking required minimum distribution (RMDs) from their IRAs or other retirement plan accounts. Generally, RMDs are the...
Did you or someone you know get married in 2022? The IRS has provided a checklist to help newlyweds avoid mistakes that could cost them at tax time. How you file depends on your...
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial planning: the Setting Every Community Up...
It’s been said that a little preparation can go a long way. This certainly applies toward taxes, specifically, the upcoming 2023 tax filing season. As year-end nears, it’s a good time to round up...
Business owners can generally deduct their business-related vehicle expenses, but they bear the burden of proving they’re entitled to the deduction. Taxpayers must keep detailed contemporaneous records of each trip (the date, time, miles...
The IRS is warning businesses that they’re prime targets for identity theft. How do you know if your company’s identity has been stolen? According to the IRS, you should investigate if you receive a:...