by Akila Sivakumar | Mar 27, 2023 | Blog, Tax
When President Biden delivered this year’s State of the Union address, he laid out a vision for changes he’d like to make to the federal government’s tax code. In the speech, he proposed three major changes: Raise taxes on stock buybacks Implement a “Billionaire”...
by Akila Sivakumar | Jan 26, 2023 | Blog, Tax
The IRS announced it opened the 2023 individual income tax return filing season on January 23. That’s when the agency began accepting and processing 2022 tax year returns. Even if you typically don’t file until much closer to the mid-April deadline (or you file for an...
by Akila Sivakumar | Jan 23, 2023 | Blog, Tax
If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years in tax-favored accounts, such as 529 plans. But there are also a number of tax breaks that you may be able to claim once your...
by Akila Sivakumar | Jan 11, 2023 | Blog, Business, Tax, Uncategorized
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2023. The IRS recently announced that the 2023 cents-per-mile...
by Akila Sivakumar | Nov 15, 2022 | Business, Tax
Companies that have a history of deducting research and experimental (R&E) expenses will need to prepare for a bigger tax bill. Prior to this, businesses have been able to deduct their R&E expenses in the same year in which they incurred them. However, for tax...
