Law changes

What The Standard Mileage Increase Means For You
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What The Standard Mileage Increase Means For You

Blog, Deductions, Financial, Law changes

What The Standard Mileage Increase Means For You

For the first time in two years, the optional standard mileage rate is going up, as announced by the IRS. Beginning on Jan. 1, 2022, the increase affects businesses and organizations using a car, van, pickup, or panel truck for company, medical, moving or qualified active-duty purposes. Here’s why the IRS is increasing the [...]

Feltner CPA2022-04-20T18:32:17-06:00April 20th, 2022|Blog, Deductions, Financial, Law changes|0 Comments

Deprecation Changes Under New Tax Law
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Deprecation Changes Under New Tax Law

2018 Taxes, Law changes, Taxes

Deprecation Changes Under New Tax Law

The major changes there's two of the major changes one is bonus depreciation now you can deduct a hundred percent of the cost of something that you buy in the first year that you have it that's beneficial just you get a bigger deduction the other major change is the section 179 [...]

Feltner CPA2023-02-14T18:34:04-06:00June 15th, 2018|2018 Taxes, Law changes, Taxes|0 Comments