by Christina Minton | Jan 3, 2022 | Whats New
New mileage rates announced by the IRS Mileage rates for travel are now set for 2022. The standard business mileage rate increases by 2.5 cents to 58.5 cents per mile. The medical and moving mileage rates also increases by 2 cents to 18 cents per mile. Charitable...
by Christina Minton | Nov 22, 2021 | Whats New
New contribution limits are on the horizon The savings limits for the ever-popular health savings accounts (HSA) are set for 2022. The new limits are outlined here with current year amounts noted for comparison. So plan now for your contributions. What is an HSA? An...
by Christina Minton | Jun 28, 2021 | Whats New
What everyone should know The American Rescue plan signed in March, 2021 requires the IRS to pay out ½ of enhanced Child Tax Credits (CTC) to eligible taxpayers beginning this month. A tall order, and one filled with land mines. If you have children or know of anyone...
by Christina Minton | May 10, 2021 | Whats New
With the end of the 2020 filing season upon us, now is the time to become aware of major changes for 2021. But be prepared, politicians are making noise in preparation for another fun-filled year of late breaking changes. Here is what we know know. For individuals...
by Christina Minton | Apr 19, 2021 | Whats New
What you need to know The whirlwind of tax changes just keeps going. Now if you have children 17 or under there is a new, higher child tax credit in place for 2021. Here is what you need to know: Age matters. The old credit was for children under the age of 17. The...
by Christina Minton | Mar 22, 2021 | Whats New
What you need to know Individual tax filing due date: May 17, 2021 (was April 15, 2021) Unemployment income: $10,200 per person not subject to federal tax (was taxable) A surprise tax break for 2020 was passed into law in March of 2021. This late, late, late law...
