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2022 Mileage rates set by the IRS
Here are your 2022 Mileage rates The 2022 business mileage rate is 58.5 cents/mile driven for business use. That is up 2.5 cents from 2021 rate Qualified active-duty Armed Forces members for medical or moving purposes, the rate is 18 cents/mile driven, up 2 cents. Performing service for charitable organizations, the rate is set by statute and remains unchanged…

April 15th deadline… Now July 15th
The US Treasury Department and the IRS have formally announced the official extension of the April 15th tax filing deadline due to the COVID-19 pandemic. The new extended deadline for file and pay all taxes due April 15th is now July 15th. This extension is automatic, there is nothing needed to be submitted. The October…

CARES Act – The Business Provisions
U.S. Government Provides Relief to Individuals, Businesses in Midst of COVID-19 Crisis On March 27, President Donald Trump signed into law a historic $2 trillion stimulus package designed to provide economic relief to individuals and businesses affected by the coronavirus pandemic. Our aim in this alert is to give a brief overview of both the…

Advanced Child Tax Credit
Get the details on your Advanced Child Tax Credit Coming into the 2022 filing season, knowing the details needed to complete your return are very important. Access the Child Tax Credit Update Portal and get access to all you need to know. Watch the above video for tips on navigating the portal site. In addition…

Keeping good records, be in the know
Keep it separated Some of the real estate agents we have worked with were shocked when they got their tax bill. They owed more to the IRS due to not capturing all of their expenses. They had been missing out on thousands of dollars of deductions because they are not keeping good records. The primary…

Recovery Rebate Credit ( Covid Stimulus Checks)
Know the amount of your 2021 Covid related Economic Impact Payment (EIP) Last year there was a lot of back and forth over the amounts you received from the US Treasury for your Recovery Rebate Checks or EIP. The IRS has created a portal to allow you access to the information you need. This portal…