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The 2022 Tax Filing Season: What You Need to Know
Monday, January 24, 2022, was the official start to this year's tax season. By now, everyone should have received most of the information they need to make sure they file a complete and accurate return. The start date for individual tax return filers is determined by...
Tax Due Dates for January 2022
During January All employers - Give your employees their copies of Form W-2 for 2021 by January 31, 2022. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting. January 3...
What To Know About Keeping Good Tax Records
It's January and tax season is right around the corner. For many people that means scrambling to collect receipts, mileage logs, and other tax-related documents needed to prepare their tax returns. If this describes you, chances are, you're wishing you'd kept on top...
Tax Credits for Accommodating Disabled Workers
Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions. Let's take a look at a few of the tax incentives that are available to encourage employers to hire...
Why Using the Correct Filing Status Matters
As taxpayers get ready for the upcoming filing season, one needs to know their correct filing status. A taxpayer's filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it...
Standard Mileage Rates for 2022
Starting January 1, 2022, the standard mileage rates for the use of a car, van, pickup, or panel truck are as follows: 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021 18 cents per mile driven for medical or moving purposes for...
Credit Reports: What You Should Know
Creditors keep their evaluation standards secret, making it difficult to know just how to improve your credit rating. Nonetheless, it is still important to understand the factors that determine creditworthiness. Periodically reviewing your credit report can also help...
Reminder: Identity Protection PIN Available To Taxpayers
Starting in January 2021, the IRS Identity Protection PIN Opt-In Program expanded to include all taxpayers who can properly verify their identity. Previously, IP PINs were only available to identity theft victims. What is an Identity Protection PIN? An identity...
Tax Planning vs. Tax Preparation: What is the Difference?
Many people assume tax planning is the same as tax preparation, but the two are quite different. Let's take a closer look: What is Tax Preparation? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that culminates...
Important Tax Changes for Individuals and Businesses
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. Individuals In 2022,...
Getting Ready for the 2022 Tax Filing Season
While filing your tax return promises to be just as complicated as always - especially if you received stimulus payments or advance child tax credit payments - there are steps that taxpayers can take right now to make sure their tax filing experience goes smoothly in...
Business & Meals Go Together 100%
The recent and continuing COVID-19 pandemic has wreaked havoc on many of our local restaurant businesses. The mandated closures and required remodeling to bring customers back into a safe environment has proven to be very difficult for many in the food service...
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