What has 2023 brought...so far?
2023 has seen developments from electric vehicle tax credits, IRS audit initiatives and a 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.
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.
The Wayfair sales/use tax decision is history but has been a jumping off point for areas like income taxes that were unanticipated just a few years ago. Stay tuned for more developments.
Re-evaluating your tax planning is always important. We're happy to those plans with you in light of provisions that will expire within the next couple of years and possible future changes.