Dec 14, 2023 | Tax Deductions
Mileage Rates Increase to 67 Cents a Mile The Internal Revenue Service issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2024,...
Nov 16, 2021 | IRS, Tax Deductions
Temporary 100% Deduction for Food or Beverages From Restaurants The Internal Revenue Service issued Notice 2021-63 PDF to make clear how the temporary 100% business deduction for food or beverages from restaurants applies to taxpayers properly applying the rules of...
Jul 30, 2021 | Tax Adjustment, Tax Deductions, Tax Withholding
The last thing anyone wants is to find out that the IRS is billing them for a couple of grand or that they owe a penalty. It is better to overpay and receive a return than pay too little and have another bill that burdens you. If you are worried about having too many...
Apr 6, 2021 | Tax Credit, Tax Deductions, tax season
Tax season is here and sadly, taxes are an annual occurrence for most of us. With all of the changes to our current economy, it is easy to forget some minor details. There are some slight changes to tax policy since this year was the start of a new administration...
Nov 7, 2019 | Tax Credit, Tax Deductions
The last thing anyone wants is to find out is that the IRS is billing them for a couple of thousand dollars or that they owe a penalty. As we have heard countless times, it is better to overpay and receive a return than to pay too little and have another bill to worry...
Oct 28, 2019 | Filing Status, Tax Deductions
When a taxpayer files their tax return, they need to know their filing status. What folks should remember is that a taxpayer’s status could change during the year. So, any time is a good time for a taxpayer to learn about the different filing statuses and which one is...
