• Standard Mileage Rates for 2024

    Standard Mileage Rates for 2024

    standard mileage rates for 2024 WASHINGTON — The Internal Revenue Service today issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or…

  • Holiday Season Office Hours

    Holiday Season Office Hours

    My Office will be Closed from December 19 through January 1 During this 2-week period I will be upgrading our computer and telephone networks in preparation for Tax Season.

  • Alabama $150 Tax Rebate 

    Alabama $150 Tax Rebate 

    One-time tax rebates will be sent to approximately 1.9 million taxpayers. The amount of the rebate is based on the qualified taxpayer’s status: $150 for single, head of family and married filing separately or $300 for married filing jointly. Taxpayers can expect to receive their rebate based on how they got their 2021 tax year…

  • IRS Announces Delay in Form 1099-K Reporting Threshold

    IRS Announces Delay in Form 1099-K Reporting Threshold

    IRS announces delay in Form 1099-K reporting threshold for third-party platform payments for 2023; plans for a threshold of $5,000 in 2024 to phase in implementation WASHINGTON — Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service today released Notice 2023-74 announcing a delay of the…

  • Health Insurance and Dependents Age 26

    Health Insurance and Dependents Age 26

    Important Change Due to a mandated change from the Centers for Medicare and Medicaid Services (CMS), beginning January 1, 2024, dependents will now remain on your health plan until the end of the plan year in which the dependent turns 26 instead of being removed the first of the month following their 26th birthday. The…

  • Art Donations

    Art Donations

    IRS warns taxpayers of improper art donation deduction promotions; highlights common red flags The Internal Revenue Service is warning taxpayers to watch for promotions involving exaggerated art donation deductions that can target high-income filers and offered special tips for people to use to avoid getting caught in a scheme. There are ways for taxpayers to…

  • Upcoming Tax Deadline

    Upcoming Tax Deadline

    We are running out of time… If we are waiting on information from you in order to complete your tax filings by the October 16th deadline, please be aware of the following. Monday October 9th is Columbus Day, a federal and state recognized holiday. Because our office will be closed, the short week will reduce…

  • Tax Relief for Farmers

    Tax Relief for Farmers

    IRS extends relief to farmers and ranchers in 49 states, other areas impacted by drought; more time to replace livestock Eligible farmers and ranchers forced to sell livestock due to drought may have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales. The…

  • Business Travel Expenses

    Business Travel Expenses

    Employers Paying Per Diem to Employees Generally, in lieu of actual lodging, meal, and incidental expenses incurred, a payer may consider substantiated, for federal tax purposes, an employee’s expenses incurred for employment-related travel in an amount up to or equaling the federal per diem rate for the locality of travel. Continental United States (CONUS) The…