IRS increases mileage rate for remainder of 2022
WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. For the final 6 months of 2022, the standard […]
2021 Last-Minute Year-End General Business Income Tax Deductions
The purpose of this article is to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the cash when you pay less in taxes. This article gives you six powerful business […]
New Wisconsin Tax Laws Affect 2020 Wisconsin Tax Returns
On February 18, 2021, Governor Tony Evers signed 2021 Wisconsin Acts 1 and 2, which provide the following significant changes for 2020 Wisconsin income/franchise tax returns. The tax form instructions are being updated and more information will be published next week in Wisconsin Tax Bulletin 212. Earned Income Tax Credit Wisconsin adopted section 211 of […]
Good News If Your PPP Loan Is for $50,000 or Less
As you likely know by now, the Paycheck Protection Program (PPP) loan and its forgiveness process have been an ever-changing (and often confusing) ride so far. With the new rules for PPP loans of $50,000 or less, you escape the most difficult part of the loan forgiveness if you had to consider employees. And you […]
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