by briesterer@thinkvisionary.com | Apr 6, 2023 | Business, Newsletter, Tax
Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions. Here’s an overview of the tax incentives designed to encourage employers to hire qualified people...
by briesterer@thinkvisionary.com | Mar 2, 2023 | Business, Individuals, Newsletter, Tax
When a family member employs someone, the tax implications depend on the relationship and the type of business. Taxpayers and employers need to understand their tax situation. Here is what to know: Married People in Business Together Generally, a qualified joint...
by briesterer@thinkvisionary.com | Jan 6, 2023 | Business, Individuals, Newsletter, Tax
The $1.66 trillion Consolidated Appropriations Act, 2023, was signed into law on December 29, 2022, by President Biden. Included in the 4,155-page bill is the SECURE Act 2.0 of 2022, which contains a number of tax provisions relating to retirement. Let’s take a...
by briesterer@thinkvisionary.com | Jan 5, 2023 | Business, Newsletter, Tax
Here’s what small business owners need to know about tax law changes and inflation adjustments for the year ahead. Standard Mileage Rates In 2023, the rate for business miles driven is 65.5 cents, up 3 cents from the midyear increase setting the rate for the...
by briesterer@thinkvisionary.com | Dec 6, 2022 | Business, Newsletter, Tax
Recipients of Paycheck Protection Loans (PPP) should be aware that when a taxpayer’s loan is forgiven based upon misrepresentations or omissions, they are not eligible to exclude the forgiveness from income. They must, instead, include in income the portion of...
by briesterer@thinkvisionary.com | Dec 1, 2022 | Business, Newsletter, Tax
Here’s what business owners need to know about tax provisions for 2022: Standard Mileage Rates Due to inflation, there were two standard mileage rates in 2022: 62.5 cents per business mile driven (July 1-December 31, 2022) and 58.5 per business mile driven...
