2022 Standard Mileage Rates Announced

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Highlights: Standard Mileage Rates for 2022 Business, Charitable, Medical and Moving Rates Important Considerations for 2022 Switching Between the Actual Expense and Standard Mileage Rate Methods Employer Reimbursements Employee…

Using Data to Drive Your E-Commerce Business’ Growth

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If knowledge is power, then the information available to e-commerce business owners provides nearly unlimited potential. The same platforms that host your websites include data collection tools that – if used properly – can guide your decision-making…

January 2022 Due Dates

January 2022 Individual Due Dates January 3 - Time to Call For Your Tax Appointment - January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar…

Does Your Business Need to File Forms 1099-NEC or 1099-MISC?

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Article Highlights: 1099-NEC Filing Requirements Independent Contractor Filing Threshold Form W-9 Form 1099-MISC If you use independent contractors to perform services for your business, for each one that you pay $600 or more…

What Is Tax Basis and Why Is It So Important?

Article Highlights:  Definition of Tax Basis Cost Basis Adjusted Basis Gift Basis Inherited Basis Record Keeping For tax purposes, the term “basis” refers to the monetary value used to measure a gain or loss. For…

Tax Tips for Holiday Charity Donations

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Article Highlights: Long-Form Itemization Required Below-the-Line Cash Contributions for 2021 Qualified Charities Only Cash Donations Non-cash Donations Leave Donations Other Qualifying Donations AGI Limitations …

Tax Benefits Available to Disabled Taxpayers

Article Highlights: Increased Standard Deduction Tax-Exempt Income Impairment-Related Work Expenses Financially Disabled Earned Income Tax Credit Child or Dependent Care Credit Special Medical Deductions Qualified…

Tax-Free Gifting

Article Highlights: Lifetime Exclusion Annual Exclusion Medical Exception Education Exception Gifting Techniques If you are fortunate enough to have an estate large enough to be subject to the estate tax upon your death,…

Tax Benefits for Holiday Gifts

Article Highlights:   Electric Car Credit Solar Electric Credit College Student Supplies Work Equipment Charitable Gifts Employee Gifts Some holiday gifts you provide to members of your family, employees and others may…

December 2021 Tax Due Dates

December 2021 Individual Due Dates December 1 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2021. Taxpayers with substantial increases or decreases in income, changes in marital…