IRS Increase 2025 Standard Mileage Rate to 70 Cents Per Mile
The Internal Revenue Service (IRS) has announced that, effective January 1, 2025, the standard mileage rate for business use of a vehicle will increase to 70 cents per mile, up
How to Build Operating Reserves to Protect Your Nonprofit in a Financial Crisis
In times of financial uncertainty, having operating reserves to protect your nonprofit is essential. These reserves act as a financial safety net, allowing your organization to continue its mission without
Understanding Allowable Expenses For Landlords
Being a landlord comes with financial responsibilities, but it also offers tax benefits that can help reduce your overall expenses. One key advantage is the ability to claim allowable expenses
How Much to Estimate for Small Business Taxes?
a small business means wearing many hats, and one crucial responsibility is staying on top of your taxes. Estimating your small business taxes accurately can save you from unpleasant surprises.
How to Maximize Your Car Write-Offs: A Quick Guide to Claiming Vehicle Expenses
If you use your car for business, claim vehicle expenses that can save you significant money. Knowing how to properly claim and maximize these vehicle-related expenses is key. Continue reading
How Taxes Affect Medicare Premiums 2025: What You Need to Know
Medicare, a federal health insurance program for people aged 65 and older, has premiums that can be influenced by various factors. Specifically, taxes affect Medicare premiums, and understanding this relationship
Do You Need a Non-Marital Cohabitation Agreement for Taxes?
When living with a partner without marriage, it’s essential to understand how your financial and legal rights differ from those of married couples. One critical area of concern is taxes.
Understanding the Relationship Between Trustee and Beneficiary
In the world of trusts, the relationship between a trustee and a beneficiary is crucial for ensuring the trust operates as intended. Trusts are legal arrangements in which one party
How Does a Small Business Deduct Donated Services?
Small businesses can often find ways to give back to their communities, and one way to do this is by donating services. However, many business owners may wonder: Can we
What Happens If I’m Missing Business Receipts?
Receipts play a crucial role in tracking business expenses and ensuring you comply with tax laws. However, sometimes receipts go missing. Whether they’re lost, damaged, or never received in the
