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New Law Ushers in Major Retirement Changes

In the waning days of 2022, President Biden signed a bill that improves the retirement situation for a wide range of Americans. Click through for a first look at these changes, which affect almost every worker and the companies that employ them.

Is It a Hobby or a Business?

At first glance it seems obvious what the difference is between a hobby and a business. But the IRS draws a heavy line between them. Click through for insights into IRS regulations to help you learn when your hobby becomes a profit-making entity.

IRS Establishes Mileage Rates for 2023

In June 2022, the IRS made a rare midyear adjustment to mileage deductions because of rising gas costs. It’s increased the number again for 2023. Click through for the details so you can take full advantage of higher rates.

3 Reasons To Pay Above the Minimum Wage

Industries that pay their employees the minimum tend to have high turnover. There’s a reason for that! Higher wages pay off in the long run. Click through to see why it’s a good idea to pay more than the minimum wage.

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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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