SMALL BUSINESS ALERT: New Federal Reporting Required

SMALL BUSINESS ALERT: New Federal Reporting Required

Especially important for new business startups Beginning in 2024, many small businesses will have to report information about their owners to the Financial Crimes Enforcement Network (commonly referred to as FinCEN), a bureau of the U.S. Department of the Treasury...
2024 Mileage Rates are Here!

2024 Mileage Rates are Here!

New mileage rates announced by the IRS Mileage rates for travel are now set for 2024. The standard business mileage rate increases by 1.5 cents to 67 cents per mile. The medical and moving mileage rates are now 21 cents per mile. Charitable mileage rates remain...
Reminder: Fourth Quarter Estimated Taxes Now Due

Reminder: Fourth Quarter Estimated Taxes Now Due

Now is the time to make your estimated tax payment If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The 4th quarter due date for the 2023 tax year is now here. Due date:...
IRS Ends Unannounced Revenue Officer Visits

IRS Ends Unannounced Revenue Officer Visits

The IRS recently announced a major policy change that it will end most unannounced revenue officer visits to taxpayers. This announcement is being picked up by all the major news outlets, but as is usually the case, it lacks context. Here is what you need to know....
Amending a Tax Return

Amending a Tax Return

Not always needed or wise There’s usually an element of relief after your annual tax return has been filed. But what do you do if you find an error on your tax return? Should you always file an amended return? Here are some things to consider. Errors in the...