by Sal Schibell | Jan 4, 2023 | News
IRS Delays Implementation of $600 Reporting Threshold for Third-Party Payment Platforms’ Forms 1099-K The IRS announced a delay in reporting thresholds for third-party settlement organizations (TPSOs) set to take effect for the upcoming tax filing season. TPSOs will...
by Sal Schibell | Jan 2, 2023 | News
Tax Alert: Business Mileage Rate Increases for 2023 The IRS issued the optional standard mileage rates for calculating the deductible costs of operating a car for 2023. Starting January 1, 2023, the rates for using a car, van, pickup, or panel truck will be: 65.5...
by Sal Schibell | Dec 28, 2022 | News
The IRS treats cryptocurrency as property, not money, and taxes it like a stock. Taxpayers must disclose gains and losses on investments in digital assets. Profits on assets held for more than a year are taxed at the long-term capital gains rate, now a top 23.8%,...
by Sal Schibell | Dec 22, 2022 | News
Board and executive diversity continue to be a top priority for many corporate directors and investors as diversity, equity, and inclusion (DEI) initiatives have been linked to improved company performance. McKinsey found in its research Diversity wins: How inclusion...
by Sal Schibell | Jul 20, 2022 | News, Tax Tips
Charitable contributions are a great way to give back not only to your community, but to yourself around tax time! The IRS allows taxpayers to itemize charitable contributions in order to write them off–in most cases, you’re allowed to write off up to 60% of your...
