On August 16th 2022, the Inflation Reduction Act was signed into law by President Biden. I do know one thing… there isn’t anything in this Act that is going to reduce inflation. But there are tax incentives in here that we can potentially take advantage of. What tax savings are in the Act for you? Summary of Inflation Reduction Act First, roughly $370 billion in … [Read more...] about Inflation Reduction Act: What Tax Savings Are in it for You?
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Business Owners…A Key Tax Deadline is Right Around the Corner
The United States income tax system is a pay-as-you-go tax system, which means that you must pay income tax as you earn or receive your income during the year. That is pretty easy for employees, as taxes are automatically withheld from your paycheck. However, what if you own a business? The IRS requires business owners to pay estimated taxes on a quarterly basis … [Read more...] about Business Owners…A Key Tax Deadline is Right Around the Corner