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 | Jan 4, 2023 | Individuals, Newsletter, Tax
Every year, it’s a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead....
by briesterer@thinkvisionary.com | Jan 3, 2023 | Individuals, Newsletter, Tax
Filing your 2022 tax return promises to be just as complicated as always; however, there are steps that taxpayers can take right now to ensure their tax filing experience goes smoothly. Let’s look at what’s new for 2022 and some key items taxpayers should...
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...
