Hobby or business: here’s what to know about that side hustle

Hobby or business: here’s what to know about that side hustle

Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. The biggest difference between the two is that...
Get ready for taxes: What’s new and what to consider when filing in 2023

Get ready for taxes: What’s new and what to consider when filing in 2023

WASHINGTON – The Internal Revenue Service encouraged taxpayers to take important actions this month to help them file their 2022 federal tax returns. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A ”Get...

Summary of Tax Credits Available with the Inflation Reduction Act of 2022

The passing of the Inflation Reduction Act in August has led to many questions regarding the purchase of Electric Vehicles (EV) and Energy Efficient Home Improvements in regards to potential tax credits. To help answer some of the questions you may have, we have...
Summary of Tax Credits Available with the Inflation Reduction Act of 2022

Summary of Tax Credits Available with the Inflation Reduction Act of 2022

The passing of the Inflation Reduction Act in August has led to many questions regarding the purchase of Electric Vehicles (EV) and Energy Efficient Home Improvements in regards to potential tax credits. To help answer some of the questions you may have, we have...

Inflation Reduction Act of 2022 includes Credits for Clean Vehicles

Reprinted from the U.S. Department of Energy The Inflation Reduction Act of 2022 (Public Law) amends the Qualified Plug-in Electric Drive Motor Vehicle Credit (IRC 30D), now known as the Clean Vehicle Credit, and adds a new requirement for final assembly in North...