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In December 2022, the IRS released answers regarding the improved Energy Efficiency Home Improvement and Residential Clean Energy Property Credits imposed with passage of the Inflation Reduction Act (IRA). These new credits went into effect starting January 1, 2023.

Over the past few years, cryptocurrency has been a complex tax issue that the IRS has been trying to deal with. Recently, the IRS has provided more clarity on what is considered cryptocurrency and what needs to be reported on an individual’s 1040 individual income tax form.
 

Tax season is coming up fast.  Soon enough, we’ll all be receiving our annual tax forms in the mail.  Like many of us, you’ll probably want to send the information over to your accountant as you receive it, or even start your filing process before you have all your forms.  However, this may not be the best thing to do.  So when should you send in your information?

​The Internal Revenue Service issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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​As we quickly approach the deadline for filing 1099-MISC or 1099-NEC, it is time to consider whether your business is ready to file.
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