2023 Mileage Rates Are Here

2023 Mileage Rates Are Here

The 2023 mileage rates have been announced by the IRS… Standard business mileage increased to 65.5 cents per mile. Medical and moving mileage remain at 22 cents per mile. Charitable mileage stays at 14 cents per mile. Whether you track your mileage on paper or...
Beware of Employee Retention Credit Scams

Beware of Employee Retention Credit Scams

Have you been contacted by a third party and advised that your business is eligible for the Employee Retention Credit? If so, proceed with caution… Many businesses are being advised to claim the credit, but don’t actually qualify for it. Often, these third...
Inflation Reduction Act

Inflation Reduction Act

On August 16th, President Biden signed into law the Inflation Reduction Act (IRA). Among the many provisions within the IRA, the act establishes a new corporate minimum tax, an excise tax on corporate stock repurchases and an increase in research credit. The act also...
Should You Incorporate Your Small Business?

Should You Incorporate Your Small Business?

As a sole proprietor, you may have wondered if it would be better for you to incorporate your business. Here are some things to consider… Incorporating a business limits the owner’s liability. However, many small corporation stockholders are required to...