The $1.66 trillion Consolidated Appropriations Act, 2023, was signed into law on December 29, 2022, by President Biden. Included in the 4,155-page bill is the SECURE Act 2.0 of 2022, which contains a number of tax provisions [...]
Although the IRS has extended the individual tax return due date for taxpayers who live in South Carolina (as well as Florida and North Carolina), our clients who live in South Carolina should take note. South Carolina [...]
Courtesy of the Wall Street Journal, the following is a detailed explanation of the new rules for electric vehicle tax credits that became effective this August when President Biden signed the Inflation Reduction Act into law: What are [...]
In a rare mid-year adjustment, IRS announced that the standard business mileage rate will increase from 58.5 cents per mile to 62.5 cents per mile. This change is effective July 1. The rate for moving costs (for [...]
Selling your home? You may exclude up to $250,000 ($500,000 for joint filers) of gains if you meet eligibility requirements. With rising prices, some sales may be taxable, so understanding exclusions and reporting rules is crucial. Consult a tax professional for guidance.
We know--it happens. You have every intention of providing us your tax information in February, but time slips and it's now March (for business returns) or April (for personal returns). What to do? If you are an [...]
