Every year, it’s a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead.
Filing your tax return promises to be just as complicated as always – especially if you received stimulus payments or advance child tax credit payments.
Click on the links below to jump to each section in this article: Retirement Contributions Limits Announced for 2022 Small Business: Deducting Startup Costs Reminder: Deferred Payroll Taxes Due in December Important Information About Charitable Giving This Year Tax Credit for Hiring Long-Term Unemployed Workers Retirement Contributions Limits Announced for 2022 Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2022 are as follows:...
While the recently passed Infrastructure Investment and Jobs Act primarily addresses infrastructure-related issues, it includes several tax provisions affecting individuals and small business taxpayers.
Credit card balances typically follow a seasonal pattern, increasing significantly in the fourth quarter, coinciding with holiday shopping, and millions of taxpayers are still carrying debt from last year’s holiday season.
Here’s what business owners need to know about tax changes for 2021.
As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2021.
Click on the links below to jump to each section in this article: IRS Charges Fee for Estate Closing Letters Shared Custody and Advance Child Tax Credit Payments Tips To Avoid Fraud and Scams After a Disaster Deferred Tax on Gains From Forced Sales of Livestock Advertising and Marketing Costs May Be Tax Deductible IRS Charges Fee for Estate Closing Letters Starting October 28, a new $67 user fee will apply to any estate that requests an estate tax closing letter for its federal estate tax...
While similar to FSAs (Flexible Savings Plans) in that both allow pretax contributions, Health Savings Accounts or HSAs offer taxpayers several additional tax benefits. Let’s take a look:
If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors and employees.
