2022 Year-End Tax Planning for Individuals — Recorded Webinar

calculator on top of money tax

View On-Demand Webinar: Year-End Tax Planning for Individuals On December 1, 2022, Jane Pfeifer and Mark Gaudet (joined by moderator Brendan Walsh) looked at the tax implications individuals should consider for the end of 2022. Although the live webinar event has ended, you can view the recording by clicking the button below. Please note: CPE […]

Clean Vehicle Credit Comes with Caveats

Clean Vehicle Credit Comes with Caveats

By David JohnsonSenior Manager The Inflation Reduction Act (IRA) includes a wide range of tax incentives aimed at combating the dire effects of climate change. One of the provisions receiving considerable attention from consumers is the expansion of the Qualified Plug-in Electric Drive Motor Vehicle Credit (IRC Section 30D), now known as the Clean Vehicle Credit. While […]

The Inflation Reduction Act Includes Wide-Ranging Tax Provisions

Inflation Reduction Act Overview

President Biden signed the Inflation Reduction Act (IRA) into law on August 16, 2022. The IRA includes significant provisions related to climate change, health care, and, of course, taxes. The IRA also addresses the federal budget deficit. According to the Congressional Budget Office (CBO), the IRA is projected to reduce the deficit by around $90 billion […]

Maximize Your Tax Filing Preparedness & Awareness

Even though last year’s tax filing may be in the rearview mirror (if you did not file an extension), it’s not too early to think about tax preparation for this year. One of the biggest impediments to completing individual and corporate tax returns is lack of proper documentation and recordkeeping. To make your life easier, […]

Standard business mileage rate will increase for the second half of 2022

business mileage rate increase

The IRS recently announced that it will increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this year. In fact, as of June 13, the nationwide average price of regular unleaded gas was $5.01 a gallon, according to the AAA Gas […]

Proposed regulations for inherited IRAs bring unwelcome surprises

inherited IRAs SECURE 10-Year

In late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes to retirement and estate planning strategies, but it also raised some questions. The IRS has been left to fill the gaps, most recently with the February […]

Don’t forget to factor 2022 cost-of-living adjustments into your year-end tax planning

The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, mainly due to the COVID-19 pandemic, many amounts increased considerably over 2021 amounts. As you implement 2021 year-end tax planning strategies, be sure to take these 2022 cost-of-living adjustments into account. Also, keep in mind […]

Potential tax law changes hang over year-end tax planning for individuals

As if another year of the COVID-19 pandemic wasn’t enough to produce an unusual landscape for year-end tax planning, Congress continues to negotiate the budget reconciliation bill. The proposed Build Back Better Act (BBBA) is certain to include some significant tax provisions, but much uncertainty remains about their impact. While we wait to see which […]