What's new in the tax world?
Current developments
What has 2023 brought...so far?
2023 has seen developments from electric vehicle tax credits, IRS audit initiatives and spaghetti bowl of state tax rules for "work from home" jobs. Starting July 1, 2023, the standard deductible business mileage rate is 65.5 cents per mile. Revisit us here for more current developments and contact us to discuss any of them in more detail.
Beware of the scams
Scammers continue to request sensitive personal and banking information. IRS will NOT initially contact you by phone, e-mail, texts or personal visits. Use normal precautions and don't provide sensitive information to anyone you don't know or who threatens you.
State taxes - the world continues to change
The Wayfair sales/use tax decision is now history but it has been used as a jumping off point for application in areas like income taxes that were unanticipated just a few years ago. Stay tuned for more developments.
Tax planning - even more changes
Re-evaluating your tax planning is always important. We're happy to those plans with you in light of the new laws and possible future changes.