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Taxes

Home Energy Improvement Credit Is Enhanced

Article Highlights: Credit History New Law Enhancements Extensions Credit Limits Home Energy Audit Identification Number Requirement Other Credit Issues Going all the way back to 2006, except for 2008, the federal tax code has offered a tax credit for making energy-saving improvements to a taxpayer’s

Electric Vehicle Credit Undergoes Major Overhaul

Article Highlights: Assembly Requirement August 15 Deadline Transition Rule The New Law Income Limit Manufacturer's Suggested Retail Price Limitation New Vehicle Definition Transfer of Credit to the Dealer Credit for Used Vehicles With the recent passage of the Inflation Reduction Act of 2022, the electric

IRS Providing Penalty Relief to 1.6 Million Taxpayers

Article Highlights: Penalty Relief 2019 & 2020 Tax Returns Includes 1040, 1120, Certain 1099 Series Filings Refunds Are Automatic September 30, 2022, Deadline The First-Time Abatement Penalty Relief To help struggling taxpayers affected by the COVID-19 pandemic, the IRS has issued a notice, which provides

Will You Benefit from Biden’s Student Loan Relief?

Article Highlights: Relief Amounts Income Limitations Dependents of Another Pell Grant Recipients Repayment Pause Monthly Payment Reduction Cancellation of Debt Income On August 24, President Biden announced a three-part plan to deal with student loan debt which includes, among other things, $20,000 in loan relief

September 2022 Due Dates

September 2022 Individual Due Dates September 1 - 2022 Fall and 2023 Tax Planning Contact this office to schedule a consultation appointment. September 12 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips

Life Changing Events Can Impact Your Taxes

Article Highlights: Marriage Buying a Home Having or Adopting Children Getting Divorced Death of Spouse Throughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes. Here are a few of those events: Getting Married

The Atlassian Success Story: What You Need to Know

Today, Atlassian isn't just one of the most successful startups in Australia - it's one of the most successful companies of its type on Earth. As an organization, it is worth more than $50 billion. The portfolio of products that it creates - with software

Aretha Franklin’s Tax Situation: What You Need to Know

If someone were to craft a "Mount Rushmore" featuring the likenesses of some of the most influential musicians of all time, Aretha Franklin would undoubtedly be on it. Born in 1942, Franklin was more than just another singer or songwriter. She was a brilliant pianist.