Taxes

Article Highlights: Standard Mileage Rates for 2023 Business, Charitable, Medical and Moving Rates Important Considerations for 2023 Switching Between the Actual Expense and Standard Mileage Rate Methods Employer Reimbursements Employee Deductions Suspended Special Allowances for SUVs  As it does every year, the Internal Revenue Service recently

Article Highlights: Required Minimum Distribution (RMD) Penalty for Not Taking an RMD Excess Contribution or Distribution Penalty Statute of Limitations Nanny Retirement Contributions Credit for Small Employer Pension Plan Start-up Costs Military Spouse Retirement Plan Eligibility Credit for Small Employers Firefighter Retirement Distributions Penalty-Free Withdrawals

Article Highlights: W-4 Updates W-9 Collection Estimated Tax Payments Charitable Contributions Required Minimum Distributions Gifting Retirement-Plan Contributions Beneficiaries Reasonable Compensation Business-Vehicle Mileage College-Tuition Plans Individuals and small businesses should consider various ways of starting off on the right foot for the 2023 tax year. W-4

Article Highlights: Non-business deductions Tax bracket Above-the-line deductions Itemized deductions Business deductions Tax credits Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer because

Article Highlights: The Forgiveness Plan Supreme Court Qualifications Tax Issues Payment Moratorium Current Applications President Biden's student loan debt forgiveness plan was originally authorized by an executive order and announced on August 24, 2022. It subsequently hit a snag when two court cases put a

Article Highlights Family Member Transactions Renting to a Relative Below-Market Loans Transferring Home Titles Gifts Basis Life Estate Incorrect Withholding Child Files Incorrect Return When it comes to transactions between family members, the tax laws are frequently overlooked, if not outright trampled upon. The following

FTX Group, also officially referred to as FTX Trading Ltd., is a cryptocurrency company that is currently in the process of bankruptcy proceedings. In addition to previously operating as a cryptocurrency exchange, it was also a crypto hedge fund. It was originally founded in 2019

Experts agree that a recession in both the United States and Europe is likely just on the horizon. Recessions can be stressful and uncertain times for even the strongest businesses out there - to say nothing of how difficult they can make things for younger

When it comes to income tax planning, one of the most important things to understand is that not all professions are created equally. Yes, it's true that are certain rules that we all have to follow when it comes to the Internal Revenue Service. But

Article Highlights: Income Deferral Earnings Deferral Individual Retirement Accounts Retirement Accounts Bank Savings Short- and Long-Term Capital Gains Education Savings Accounts Health Savings Accounts Installment Sales Tax Deferred Exchanges Qualified Opportunity Funds When you are attempting to defer the taxability of a capital gain, save