by briesterer@thinkvisionary.com | Aug 1, 2022 | Individuals, Newsletter, Tax
It’s almost time for the start of the new school year, and teachers and other educators should know that they can still deduct certain unreimbursed expenses. Deducting expenses such as classroom supplies, training, and travel helps reduce the amount of tax owed...
by briesterer@thinkvisionary.com | Jul 8, 2022 | Individuals, Newsletter, Tax
A hobby is any activity that a person pursues because they enjoy it and with no intention of making a profit. In contrast, people operate a business with the intention of making a profit. However, many people engage in hobby activities that turn into a source of...
by briesterer@thinkvisionary.com | Jul 7, 2022 | Uncategorized
Dirty Dozen Tax Scams for 2022 The “Dirty Dozen” is a list of common tax scams that target taxpayers. Compiled and issued annually by the IRS, it includes a number of aggressive and evolving schemes that taxpayers should avoid. Let’s take a look at...
by briesterer@thinkvisionary.com | Jul 6, 2022 | Individuals, Newsletter, Tax
What Teen Entrepreneurs Should Know About Taxes Teens and young adults often go into business for themselves over the summer or after school. This work can include babysitting, lawn mowing, dog walking, or other part-time or temporary work. When a teen or young adult...
by briesterer@thinkvisionary.com | Jul 5, 2022 | Business, Newsletter, Tax
The optional standard mileage rate, which taxpayers may use to calculate the deductible costs of operating an automobile for business and certain other purposes, increases to 62.5 cents per mile, effective July 1, 2022. The new mileage rate is up 4 cents from the rate...
