Now that the April filing deadline has passed, most people are spending more time thinking about summer vacations than tax planning. However, summer is a great time to review withholding and see if summer plans will affect next year’s tax return. Below are some common...
IRS
IRS increases mileage rate for remainder of 2022
WASHINGTON — The Internal Revenue Service announced on June 9, 2022, an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile...
SECURE 2.0 – What Employers Need to Know
On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act of 2022 (“SECURE 2.0”, HR 2954). The vote was largely supported by both parties (414-5). The Senate will likely act on the bill later this spring. While we expect several...