The IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this
Proposed regs for inherited IRAs bring unwelcome surprises
Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes
Congress Eyes Further Retirement Savings Enhancements
In 2019, the bipartisan Setting Every Community Up for Retirement Enhancement Act (SECURE Act) — the first significant legislation related to retirement savings since 2006 — became law. Now Congress
New State Laws Affect Businesses for the Good and the Bad
A bill Governor Gavin Newsom signed into law in February has positive tax implications for businesses, while a second bill requires certain companies to provide workers with COVID-19 sick leave
The IRS again eases Schedules K-2 and K-3 filing requirements for 2021
The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships
Why a Cost Segregation Study is a Good Idea
Accelerate Depreciation Deductions to Reduce Taxes and Boost Cash Flow The COVID-19 pandemic has resulted in many companies conserving cash and not buying much equipment during the past year. An
2022 Tax Calendar
To help you make sure you don’t miss any important 2022 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the
U.S. House passes the Build Back Better Act
The U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213 on November 19. The Build Back Better Act (BBBA) includes numerous provisions
Don’t Forget to Factor 2022 Cost-of-living Adjustments Into Your Year-end Tax Planning
The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, mainly due to the COVID-19 pandemic, many amounts increased considerably