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    • Government Agencies
    • Government Contractors
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    • Individuals
    • Manufacturing & Distribution
    • Architects, Construction & Engineering
  • Lifecycle
    • Exit & Succession
    • GAP Management
  • Services
    • Assurance & Reporting
    • Customized Accounting Solutions
    • Payroll
    • Income Tax Strategies & Returns
    • Sales Tax Reporting & Audits
    • Employee Benefit Plans & ESOPs
    • Fraud & Internal Controls
    • Valuations
    • Exit & Family Succession
    • Advisory Support
    • Abila™ Nonprofit Solutions
  • Careers
    • Open Positions
  • Resources
    • Brochures
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    • Secure Send
    • Newsletter
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    • Tax Organizer
    • Videos
  • Contact Us

Category Archives: Tax

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State Payments Excluded From 2022 Federal Returns

Individuals, Newsletter, TaxBy Wessel & CompanyMarch 6, 2023

Taxpayers in 21 states received special payments related to general welfare and disaster relief in 2022. However, according to recently issued guidance from the IRS, they will not need to…

Five Overlooked Tax Breaks for Individuals

Individuals, Newsletter, TaxBy Wessel & CompanyMarch 3, 2023

Are you confused about which credits and deductions you can claim on your 2022 tax return? You’re not alone. With tax law becoming more complicated every year, it’s hard to…

Tax Implications When Employed in the Family Business

Business, Individuals, Newsletter, TaxBy Wessel & CompanyMarch 2, 2023

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…

What To Do if You’re Missing Important Tax Documents

Individuals, Newsletter, TaxBy Wessel & CompanyMarch 1, 2023

As the April 18th tax deadline quickly approaches, last-minute tax filers should make sure they have all their documents before filing a tax return. You should have received a Form…

Taxable vs. Nontaxable Income

Individuals, Newsletter, TaxBy Wessel & CompanyFebruary 6, 2023

Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not? The quick answer is that all income is taxable unless…

How Filing Status Affects Your Tax Return

Individuals, Newsletter, TaxBy Wessel & CompanyFebruary 3, 2023

A taxpayer’s filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it…

Standard vs. Itemized Deductions

Individuals, Newsletter, TaxBy Wessel & CompanyFebruary 2, 2023

When completing a tax return, taxpayers have two options: take the standard deduction or itemize their deductions. Most taxpayers use the option that gives them the lowest overall tax. Due…

Tax Breaks for Older Adults and Retirees

Individuals, Newsletter, TaxBy Wessel & CompanyFebruary 1, 2023

Everyone wants to save money on their taxes, and retirees and older adults are no exception. If you’re 50 or older, here are six tax tips that could help you…

Highlights of the Secure 2.0 Act of 2022

Business, Individuals, Newsletter, TaxBy Wessel & CompanyJanuary 6, 2023

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,…

Businesses: Important Tax Changes in 2023

Business, Newsletter, TaxBy Wessel & CompanyJanuary 5, 2023

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…

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