by wabc | Jan 17, 2020 | Taxes |
The Internal Revenue Service recently issued the 2020 optional standard mileage rates. These rates, which adjust every year to account for inflation of fuel costs, vehicle cost and maintenance, and insurance rate increases, will once again affect the way a company...
by wabc | Dec 20, 2019 | Taxes |
If you routinely have extra cash on hand after paying off your monthly bills, you might want to consider paying down your home mortgage balance faster than is required under your loan agreement. This can be a powerful way to invest surplus cash. But it’s not...
by wabc | Nov 22, 2019 | Taxes |
As the end of the year approaches, it’s time to identify tax planning moves you should make before December 31st. The first step in the process is to engage our firm to make a projection of this year’s income, along with expected tax deductions and tax...
by wabc | Oct 18, 2019 | Taxes |
Final regulations from the Internal Revenue Service (IRS) give employers decision-making rights on whether to truncate their employees’ Social Security Numbers (SSN) on Form W2, Wage and Tax Statement. The rule, which began its journey in 2017 as a set of proposed...
by wabc | Oct 11, 2019 | Taxes |
The Taxpayer First Act (the Act) of 2019 was signed into law on July 1, 2019. The bill, having gone through a few changes on its way to the president’s desk, passed with bipartisan support – a rare thing in Washington these days. The law aims to reform the Internal...
by wabc | Sep 27, 2019 | Taxes |
Whether you are an individual taxpayer or a small business owner, understanding your eligibility for tax credits is an essential facet of income tax planning. Unlike deductions, which only reduce taxes owed by the product of the amount of your deductions multiplied by...
