On April 29, 2022, Minnesota Governor Tim Walz signed a bill passed by the Minnesota Legislature that will provide bonus pay for eligible COVID -19 frontline … [Read more...]
IRS Increases Mileage Reimbursement Rate Starting July 1
June 20, 2022 by Jeff Rislov
The Internal Revenue Service (IRS) has announced that its optional standard mileage rate will increase to 62.5 cents per mile driven for business purposes. The … [Read more...]
4 Estate Planning documents your college-aged child should have
June 16, 2022 by Larry Stulen
Does your college-aged child have a basic estate plan? In more cases than not, the answer is “no.” The good news is that the summer months are the perfect time … [Read more...]
Consider Creating a Living Will
May 23, 2022 by Larry Stulen
A living will can help ensure your last medical wishes are carried out According to a University of Pennsylvania report, approximately 37% of Americans have … [Read more...]
Businesses: Prepare for the lower 1099-K filing threshold
May 16, 2022 by Jeff Rislov
Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required … [Read more...]
Inflation Enhances the 2023 Amounts for Health Savings Accounts
May 10, 2022 by Jen Burnett
The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next … [Read more...]
Form I-9 Flexibilities Ending Soon
April 26, 2022 by Nicholle Peterson
Form I-9 Rule Flexibilities Ending Soon DHS Ending Temporary Policy for Form I-9 Identity Documents Beginning May 1, 2022, the Department of Homeland Security … [Read more...]
Why you should keep good records of major home improvements
April 25, 2022 by Jeff Rislov
When you sell a principal residence that has appreciated in value, you generally can exclude $250,000 ($500,000 for married couples) of the gain from tax. But … [Read more...]
Understanding the terms of health care directives
April 25, 2022 by Larry Stulen
Estate planning experts usually cite the need to include advance health care directives in a comprehensive estate plan. But there may be different legal names … [Read more...]
The tax mechanics involved in the sale of trade or business property
April 25, 2022 by Jeff Rislov
What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business … [Read more...]
