Buying a new business vehicle? A heavy SUV is a tax-smart choice

Wednesday, March 08, 2023
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d get from a smaller vehicle.... Read More

Do you run a business from home? You may be able to deduct home office expenses

Thursday, February 23, 2023
Many people began working from home during the COVID-19 pandemic —... Read More

Child tax credit: The rules keep changing but it’s still valuable

Wednesday, February 15, 2023
If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC).... Read More

Many tax limits affecting businesses have increased for 2023

Wednesday, February 08, 2023
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023.... Read More

Why you might want to file early and answers to other tax season questions

Wednesday, February 01, 2023
The IRS announced it opened the 2023 individual income tax return filing season on January 23.... Read More

Forms W-2 and 1099-NEC are due to be filed soon

Tuesday, January 24, 2023
With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even closer. By January 31, 2023, employers must file these forms:... Read More

SECURE 2.0 law may make you more secure in retirement

Wednesday, January 11, 2023
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years.... Read More

The standard business mileage rate is going up in 2023

Tuesday, January 03, 2023
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2023.... Read More

Answers to your questions about taking withdrawals from IRAs

Wednesday, December 07, 2022
As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 72.... Read More

Employers: In 2023, the Social Security wage base is going up

Wednesday, November 30, 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax.... Read More