The Tax Advantages of Hiring Your Child This Summer
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking ...
Take Advantage of the Rehab Tax Credit When Altering/Adding to Space
If your business occupies substantial space and needs to increase or move from that space in the future, you should keep the rehabilitation tax ...
EV Tax Credit 2023: What’s Changed and What’s Ahead
Electric vehicles are gaining in popularity – and for a good reason. Not only are they environmentally friendly, but they also have tax benefits. In ...
Federal Tax Credits and Deductions for Family Caregivers
Caring for children, elderly family members, and others can be expensive as well as physically and emotionally demanding. Although the IRS doesn’t ...
President Biden’s Proposed Budget Includes Notable Tax Provisions
President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by ...
U.S. Supreme Court rules against the IRS on critical FBAR issue
The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts of ...
Many Tax Limits Affecting Businesses Have Increased For 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. ...
K-2 & K-3 for International Activity Related to 1065, 1120-S, 8865
IRS Schedules K-2 and K-3, new for 2021, may need to be completed to include items of international tax relevance from the operations of a ...
The Standard Business Mileage Rate is Going Up in 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 ...