by briesterer@thinkvisionary.com | Mar 7, 2022 | Newsletter, Tax
[vc_row][vc_column][vc_column_text]The IRS recently shared it receives thousands of R&D claims for credits in the hundreds of millions of dollars from corporations, businesses, and individual taxpayers. Claims for the research credit under Section 41 of the Tax...
by briesterer@thinkvisionary.com | Mar 7, 2022 | Newsletter, Tax
[vc_row][vc_column][vc_column_text]While there is incredible uncertainty as we move through 2022, there are a couple of major events tax teams should be tracking, as their outcomes could make a big difference for the 2022 tax landscape and well beyond. Businesses will...
by briesterer@thinkvisionary.com | Mar 3, 2022 | Individuals, Newsletter
The credit for other dependents is a tax credit available to taxpayers for each of their qualifying dependents who can’t be claimed for the child tax credit. The maximum credit amount is $500 for each dependent who meets certain conditions. These include:...
by briesterer@thinkvisionary.com | Mar 3, 2022 | Individuals, Newsletter
Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Generally, you pay federal income taxes on your Social Security benefits only if you have...
by briesterer@thinkvisionary.com | Mar 2, 2022 | Individuals, Newsletter
[vc_row][vc_column][vc_column_text]Many taxpayers opt for the standard deduction, but sometimes itemizing your deductions is the better choice – often resulting in a lower tax bill. Whether you bought a house, refinanced your current home, or had extensive...