IRS Boosts Standard Mileage Rates for Second Half of 2022

IRS Boosts Standard Mileage Rates for Second Half of 2022

The IRS recently announced it will be increasing the standard mileage rate to 62.5 cents a mile for qualified business drivers for the second half of 2022. The adjustment reflects rising costs at the gas pumps this year. Background If you use a vehicle for business...

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9 Ways to Bask in Summer Tax Savings

9 Ways to Bask in Summer Tax Savings

Remember the excitement of the last day of the school year? Many adults have fond childhood memories of being off from school for the summer. But summer break is not just for kids. Here are nine potential summertime tax breaks for grown-ups — including many that allow...

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Health Savings Account Limits for 2023

Health Savings Account Limits for 2023

With Health Savings Accounts (HSAs), individuals and businesses buy less expensive health insurance policies with high deductibles. Contributions to the accounts are made on a pre-tax basis. The money can accumulate year after year tax-free, and be withdrawn tax-free...

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Protecting Your Company from Cryptocurrency Fraud

Protecting Your Company from Cryptocurrency Fraud

According to blockchain data company Chainalysis, cryptocurrency transactions associated with illegal activity topped $14 billion in 2021. That’s almost double 2020 numbers — and the momentum shows no signs of slowing. In addition to outright cryptocurrency theft,...

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Is It Time for Your Start-Up to Consider a Pivot Strategy?

Is It Time for Your Start-Up to Consider a Pivot Strategy?

Entrepreneurs who launched new business ventures within the last year or so may find themselves contemplating a change but fear a shift at this point could be harmful. However, it is not too early to shift gears or even adopt a complete overhaul for your business....

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Should You Use Your Trust to Make Charitable Gifts?

Should You Use Your Trust to Make Charitable Gifts?

Nongrantor trusts can help you make charitable gifts that provide greater tax benefits than you would receive for individual donations. Although you do not give to charity simply for the tax deductions, it is wise to make the most of the money you have. Individual and...

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ERISA Basics for Employers

ERISA Basics for Employers

If you are a U.S. employer and you offer any kind of pension benefit to your employees, it is critical that you have an understanding of the Employee Retirement Income Security Act of 1974 (ERISA). The failure to know and fulfill your obligations and responsibilities...

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Tax Consequences of Offering Innovative Benefits

Tax Consequences of Offering Innovative Benefits

Although some companies that sent workers home during the pandemic have returned them to the office, many businesses continue to rely on remote workers. At the same time, companies in a range of industries are struggling to find and keep employees. This unusual...

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