2023 brings with it a whole new set of rules related to qualifying for a tax credit for purchasing a used electric vehicle. This is the first time that used electric vehicles have qualified for a tax credit, and although considerably less than the credit for purchasing a new electric vehicle, it does provide an…
Congress has for years used the tax return as a means of providing benefits to taxpayers in need and incentives to stimulate activities in business, as well as addressing environmental issues. So when COVID-19 hit, Congress and many state governments provided tax benefits to help citizens through the pandemic. Because the COVID pandemic-related benefits have…
This credit goes all the way back to 2006, providing a tax credit for making energy-saving improvements to a taxpayer’s home. This tax benefit was supposed to expire after 2021 but a law change has given the credit renewed life and substantially enhanced it beginning with 2023. Prior to 2023, the credit had a lifetime…
President Biden’s student loan debt forgiveness plan was originally authorized by an executive order and announced on August 24, 2022. It subsequently hit a snag when two court cases put a hold on the plan, which was one of Biden’s campaign promises. The issue has since found its way to the Supreme Court, which will…
If you’ve been keeping up with the news, you’re no doubt aware of a recent policy change that will impact the way that research and development (R&D for short) is handled when it comes to income taxes in the United States. Rather than being allowed to deduct those costs immediately, companies are now being told…
Especially in the early days of a business, it can be natural to want to handle as many day-to-day tasks yourself – bookkeeping included. Sometimes, it’s in an effort to save money. Often, entrepreneurs just feel like they’re in a better position to handle everything themselves. Regardless, this situation does seem to play out regularly….
