Here’s a rundown of the business and individual tax provisions included in President Biden’s recently released budget proposal.
U.S. Supreme Court rules against the IRS on critical FBAR issue
In Bittner v. U.S., the U.S. Supreme Court ruled that the penalty for non-willingly failing to file an FBAR applied on a lower per-report basis, not on a per-account basis.
How construction companies can cope with the skilled labor shortage
Construction company owners: Are you tired of the skilled labor shortage? Unfortunately, the struggle goes on, but there are ways to manage.
Child tax credit: The rules keep changing but it’s still valuable
If you’re a parent, you know that children are expensive. Fortunately, there’s a federal Child Tax Credit that may help you with the expenses. Here are the current rules.
Answers to your questions about 2023 limits on individual taxes
How much is the standard deduction in 2023? How much do you have to earn this year before you can stop paying Social Security on your salary? Here are some Q&As about these and other tax-related amounts for 2023.
Reading the tea leaves: Potential tax legislation in the new Congress
With Republicans now in control of the U.S. House of Representatives, what’s the fate of prospective tax legislation in 2023?
Many tax limits affecting businesses have increased for 2023
For 2023, high inflation has increased the adjustments the IRS makes annually to certain tax provisions. Here’s how much your employees can contribute to a 401(k) and an HSA this year, as well as other important business tax amounts.
Why you might want to file early and answers to other tax season questions
Why is it a good idea to file a tax return early? Here’s the answer to that and other filing season questions you may have.
How the new SECURE 2.0 law may affect your business
You’ve probably heard about the new SECURE 2.0 law. Here’s what it might mean for your business.