Every chance I get I like to talk about the American Institute of Certified Public Accountants (AICPA). They are literally out there fighting for tax payers. For trusted advisors that have your best interest in mind see the team at Foster & Dolleck, CPA’s. 402-391-7030 or contact@fosterdolleckcpas.com http://ow.ly/hHb450HFJ4q
Had a new child in 2021? Potential additional payments…….
Potential additional stimulus payments for those whom had children in 2021 or are adding dependents to a 2021 tax return. http://ow.ly/oEom50HFHxB
Reduce your Tax Liability
With tax season upon us looking at ways to reduce our tax liability is key. Retirement conditions are one of the best ways to do that. Simply stated, why not pay yourself instead of uncle sam? For all your tax needs call the team at Foster & Dolleck, CPA’s at 402-391-7030 or email contact@fosterdolleckcpas.com. http://ow.ly/AHOx50HFHbW
Information on the American Rescue Plan and how it might effect you.
The American Rescue Plan is allowing a potential bigger deduction on your 2021 tax return for child and dependent care expenses. Depending on income you could get a max credit of $4,000 for one child (up from $1,050) or $8,000 for multiple children (up from $2,100). http://ow.ly/2HZk50HuPbb
Cryptocurrency information
Just keeping at the top of every ones mind that sooner than we probably think they will be new regulations and reporting requirements for cryptocurrency. Some good information. http://ow.ly/Y3z850Hp2i4
Social Security Benefits for cost of living expenses and changes that will be taking efffect
Cost of Living increase for social security benefits to take effect. http://ow.ly/xOwV50Ho1jw
Advanced Child Tax Credit Information
If you received the Advanced Child Tax Credit, you will receive a letter from the IRS (Letter 6419) detailing how much you received. Please take this information along with your other tax documents to your tax professional. http://ow.ly/U42B50Hn3Pp
Why you should do Year End Planning if you want to Avoid high tax bills.
We can not stress enough the importance of year end planning with your tax professional. Great article about year end moves you can make to avoid any tax surprises. To book an appointment call the Foster & Dolleck, CPA’s team at 402-391-7030 or email contact@fosterdolleckcpas.com http://ow.ly/aUeZ50HeOlp
Small Business Tax Information
How does your state rank for business taxes? There are a lot of great things in this article. With well over 90% of all business being small business it is important to make sure you aren’t going to be taxes into oblivion. Link to full article is here if you want more information. http://ow.ly/73Fu50HeOtL
New Auto Use rates
After decreasing two years in a row, the rate by which taxpayers may compute their deductions for costs of using an automobile for business purposes will go up to 58.5 cents per mile for the 2022 tax year, an increase of 2.5 cents per mile over the 2021 rate.