Five Reasons Why the IRS Will Audit You

2024-02-27T01:27:38-05:00July 15th, 2022|Taxes|

Each year, the IRS audits over 1 million tax returns. With agency resources shrinking, the IRS is more selective when choosing which tax returns to audit. Knowing what the IRS is looking for can help you understand and reduce your audit risk. Here are five of the biggest reasons the IRS may choose to [...]

Retirement Basics: Understanding Tax Efficiency

2022-07-21T01:02:10-04:00July 8th, 2022|Retirement|

One of the basics when considering how to fund your retirement is to be as tax efficient with your income as possible. In 2022, income tax rates range from 0 to 37 percent, plus a potential 3.8 percent net investment tax. Understanding how these progressive tax rates apply to ordinary income creates a tremendous [...]

IRS Announces NEW 2022 Mileage Rates

2022-07-21T01:05:22-04:00July 1st, 2022|Taxes|

In a recent announcement, the IRS raised the standard mileage rates for travel beginning in July, 2022. Use the previously announced mileage rates for qualified travel in the first half of the year. Use the revised rates for travel in the second half of 2022. NEW Mileage rates for JULY through DECEMBER 2022 2022 [...]

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