As we head toward the final months of 2023, how many of us are thinking about Thanksgiving, family gatherings and planning for the year ahead? Okay, now how many are thinking about year-end tax planning? While it may not be nearly as exciting as your upcoming holiday...
You hear a knock at your door and the person on the other side says they’re with the IRS. Is it really the IRS or is it a scam? While it’s true that the IRS initiates most contact with taxpayers via regular mail, there are circumstances when an IRS...
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...
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...
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...
The IRS defines Fair Market Value (FMV) as the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the...
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