The IRS opened the 2021 individual income tax return filing season on January 24th. (Business returns were accepted earlier.) Even if you typically don’t file until closer to
Many tax limits affecting businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important
Although Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. This is because
If you have children or received a stimulus payment in 2021 the IRS is sending you letters you will need to file your 2021 taxes. Do NOT throw
If you’re an employer with a business where tipping for food and beverages is customary, you may qualify for a federal tax credit involving the Social Security and
You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not easy. Medical expenses
Do you have commercial or investment real estate that has appreciated significantly and want to sell it? One way you can defer a tax bill on the gain
The number of people participating in the “gig” or sharing economy has grown in recent years. In an August 2021 survey, the Pew Research Center found that 16%
After two years without an increase, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in
If you’re paying back college loans, either for yourself or your children, you may wonder if you can deduct the interest you pay on them. The answer is
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. Keep in mind this list isn’t all-inclusive. There may
The end of the year is a good time to plan to save taxes by carefully structuring your capital gains and losses. Consider some possibilities if you have
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