Important Tax Changes for Individuals and Businesses
Posted on January 5th, 2021
Every year, it’s a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead. Read More…
Tags: Deductions, Depreciation, Foreign Income, Health Care, Tax Law Updates
Standard Mileage Rates for 2021
Posted on January 4th, 2021
Starting January 1, 2021, the standard mileage rates for the use of a car, van, pickup, or panel truck are as follows: Read More…
Tags: Deductions, Tax Law Updates
What is the Excise Tax? Taxable Goods and Services
Posted on January 3rd, 2021
An excise tax is a tax that is generally imposed on the sale of specific goods or services, or on certain uses. Examples of things a federal excise tax is usually imposed on include the sale of fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, and tobacco, as well as other goods and services. Excise taxes are imposed on a wide variety of goods, services, and activities and may be imposed at the time of: Read More…
Tags: Tax Law Updates, Taxable