Our Blog
2023 Health Savings Account Limits
New contribution limits are on the horizon Contribution limits for the ever-popular health savings account (HSA) are set for 2023. The new limits are outlined here with current year amounts noted for comparison. So plan now for your 2023 contributions. What is an HSA?...
Five Reasons Why the IRS Will Audit You
Each year, the IRS audits over 1 million tax returns. With agency resources shrinking, the IRS is more selective when choosing which tax returns to audit. Knowing what the IRS is looking for can help you understand and reduce your audit risk. Here are five of the...
Retirement Basics: Understanding Tax Efficiency
One of the basics when considering how to fund your retirement is to be as tax efficient with your income as possible. In 2022, income tax rates range from 0 to 37 percent, plus a potential 3.8 percent net investment tax. Understanding how these progressive tax rates...
IRS Announces NEW 2022 Mileage Rates
New rates begin in July In a recent announcement, the IRS raised the standard mileage rates for travel beginning in July, 2022. Use the previously announced mileage rates for qualified travel in the first half of the year. Use the revised rates for travel in the...
NON-Retiree Retirement Ideas
Want money when you retire? Here are some tips. Here are five common retirement planning ideas and what you can do to take advantage of them. The key is retirement planning starts now, not decades from now when you are reaching retirement age. 1. Having a plan...
I’m Being Audited by the IRS!
Less than 1% of more than 145 million individual tax returns filed during 2021 will be selected for audit. The percentage increases for higher income taxpayers, along with tax returns in areas of specific interest to the IRS. Here's what you should remember if you...
Have Questions About the New Tax Laws?
Tina Minton is available to share with your business team or service organization. Her 30-minute presentation is ideal for sales meeting, lunch and learn, or other events. Please contact Brea at 757-546-2870 to schedule.
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