If you want certain individuals to receive property from your estate, there may be advantages to making those gifts while you are still alive.
The business mileage rate is increasing by 4 cents, to 62.5 cents per mile, while the medical and moving mileage is also increasing by 4 cents, to 22 cents per mile, for the final six months of 2022, the IRS recently announced. The previous rates of 58.5 cents for business mileage and 18.0 cents for medical and moving mileage still apply for the first six months of 2022.
There are big moments in everyone’s life. A new birth is one of them. The irony is that most life events also have tax consequences attached to them.
Tax Breaks – Realize that in tax planning, the earlier you start, the more effective your tax-cutting efforts will be.
It seems like summer has just begun and the Back-to-School advertising blitz has already started in the media. Are there tax savings tip opportunities within this nightmare for our kids? Certainly, if you are tax smart about your spending. While the amounts may be small, they can add up in a hurry. Here are some ideas:
Higher Taxes May Be In Your Future. here is a quick look at what might be on the horizon and some thoughts on how to be prepared.