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The IRS reminds taxpayers of some of the summer activities that may impact next year’s return.
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The SECURE Act 2.0 bill has taken another step closer to becoming law. On June 22, the Senate Finance Committee unanimously approved its version of the bill, now dubbed the Enhancing American Retirement Now (EARN) Act.
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Leading electric automakers have asked Congressional leaders to give all electric car and light truck buyers a tax credit of up to $7,500, saying they believe “a sunset date set for a time when the EV market is more mature” makes good economic and environmental sense.
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In addition to helping to reduce health care costs, a Health Savings Account can positively affect an estate plan because its funds grow on a tax-deferred basis, potentially building wealth for heirs.
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Great news for Minnesota nonprofits and businesses–lawmakers finally came to an agreement on how to repay the state’s unemployment insurance trust fund. How does this impact your organization?
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Democrats in the U.S. House of Representatives have asked IRS Commissioner Charles Rettig to increase the 2022 standard mileage rate used to deduct the cost of operating a vehicle for business purposes.
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Businesses that withhold taxes from employees and others but don’t pay them over to the IRS may face a penalty equal to 100% of the unpaid tax.
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If you receive business income payments through third-party payors, 2022 might be a game changer for your taxes.
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Estate tax planning can become complicated when multiple parties are involved. For example, you have a spouse from a second marriage and children from your first marriage. Spousal lifetime access trusts, or SLATs, are designed to benefit your children or other heirs, while paying income to your spouse during his or her lifetime.
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