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Tax Rate Change for MinnesotaCare Taxes in 2023

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The new tax rate will drop in 2023 for the Provider, Hospital, Surgical Center, Wholesale Drug Distributor, and Legend Drug Use Taxes. 

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Updates to the Clean Vehicle Tax Credit Starting in 2023

Are you hoping to qualify for a clean vehicle tax credit? There’s a new list of potentially eligible plug-in electric or fuel cell vehicles purchased after 2022.

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2023 Standard Mileage Rate Update

The IRS has issued the 2023 optional cents-per-mile rates used to calculate the tax deductible costs of operating a vehicle. Find the updated numbers here.

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Key Provisions of the SECURE 2.0 Act

The Consolidated Appropriations Act of 2023 encompasses the SECURE 2.0 Act, with many provisions that will affect both employers and tax payers.

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Qualified Charitable Distributions from IRAs

Distributions from a traditional Individual Retirement Account (IRA) are generally taxable when received, though exceptions like the Qualified Charitable Distribution (QCD) for those who are interested in making charitable donations.

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Tax reminders for business closure

If you’re closing a business, there are important bases you may have to cover. Here’s a rundown.

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FSA & 401(k) Contributions for 2023

The IRS has announced contribution updates for both 401(k) plans and employer-sponsored health Flexible Spending Accounts (FSAs). Get the latest.

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Change in reporting rules for Form 1099-K

Did you earn more than $600 in income in 2022 from selling goods or providing services? If you received that income via third-party payment apps, you may receive Form 1099-K and the reporting rules for this form have recently changed.

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Practice safe holiday giving with the Tax Exempt Organization Search tool

Holiday season is nearly here, and many taxpayers are beginning to think about giving to charity. Be on the lookout for charity scams.

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Employers, beware of shady Employee Retention Credit (ERC) advisors

Employers, beware: The IRS is warning about shady third parties advising businesses to claim the Employee Retention Credit (ERC), even when they don’t qualify.

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