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When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this doesn’t happen again next year. You might even want to adjust your withholding if you got a big refund. Receiving a tax refund essentially means you’re giving the […]

Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while they’re still a small percentage of the cars on the road today, they’re increasing in popularity all the time. If you buy one, you may be eligible for a federal tax break. The tax […]

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic? Not at all. As of this writing, a full-blown recession is possible but not an absolute certainty. And the impact of inflation […]

Is your business hiring? Many companies are — in fact, an employment report released by the U.S. Department of Labor earlier this month revealed that nonfarm payrolls increased by 390,000 in May, and the unemployment rate held steady at 3.6%. As the job market continues to feel the impact of “the Great Resignation,” the competition […]

It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain circumstances. Unfortunately, under current law, you may not be able to deduct as much as you could years ago. For years prior to 2018, miles driven for business, moving, medical and charitable purposes were potentially […]

Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are five issues to consider if you’re in the process of […]