The IRS adjusts tax brackets every year. This is an effort to stop “bracket creep” which is when inflation pushes taxpayers into a higher income tax bracket even though they didn’t get a real increase in spending power.

Happy Holidays from Findon & Associates, CPA’s & Advisors. Wishing you a joyous and safe holiday season, and a Happy New Year 2023!

Filing taxes on time is essential to stay on the right side of the Internal Revenue Service (IRS). But, every now and then, amendments to the tax code can favorably or adversely affect your financial position depending on your unique situation. Therefore, it’s essential to work with a professional that stays on top of the latest tax laws and can help you move forward.

As a small business owner, ensuring that every element of your business works efficiently is crucial. However, you don’t have to oversee everything yourself for your firm to run smoothly. This is especially true when it comes to administrative and accounting tasks. While these are essential elements of running a business, they can get perplexing. This is essentially the case with managing and maintaining payroll-related tasks. As a result, working with a payroll service provider can help you manage and streamline payroll-related tasks, meet regulations, and maintain employer compliance and save your business from fines and fees.

Running a company during COVID-19 has been challenging for millions of entrepreneurs across the country. Consequently, the government has stepped in with a stimulus package to provide tax rebates and safeguard employment.

Original Article Source Credits:   CNET , https://www.cnet.com/

Article Written By:  Katie Teague

Original Article Posted on:  June 30, 2021

Link to Original Article:  https://www.cnet.com/personal-finance/taxes/yes-the-irs-is-still-sending-tax-refunds-how-to-track-your-money-and-see-why-its-delayed/

Original Article Source Credits:   U.S. Small Business Administration , https://www.sba.gov/

Article Written By:  NA

Original Article Posted on:  NA

Link to Original Article:  https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program/ppp-loan-forgiveness

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  01-Jul-2021

Link to Original Article:  https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  June 4, 2021

Link to Original Article:  https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-paid-taxes-on-2020-unemployment-compensation

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  April 2021

Link to Original Article:  https://www.irs.gov/newsroom/irs-information-letters-about-economic-impact-payments-and-the-recovery-rebate-credit

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  January 26, 2021

Link to Original Article:  https://www.irs.gov/newsroom/new-law-extends-covid-tax-credit-for-employers-who-keep-workers-on-payroll

Original Article Source Credits:   C Net , https://www.cnet.com/

Article Written By:  Katie Conner

Original Article Posted on:  June 1, 2021

Link to Original Article:  https://www.cnet.com/personal-finance/taxes/how-long-until-you-receive-your-tax-refund-use-irs-tools-to-track-your-money/

President Biden’s administration recently unveiled its proposed budget for fiscal year 2022 that include an abundance of proposed tax changes affecting individuals and corporations.  Some of the highlights are as follows:

• Increasing the top marginal income tax rate from the current 37% to 39.6% for taxpayers with taxable income over $509,300 (married) and $452,700 (single)
• Increasing the capital gains tax from 20% to 37% for taxpayers that have adjusted gross income over $1 million

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  May 18, 2021

Link to Original Article:  https://www.irs.gov/newsroom/what-someone-should-do-if-they-missed-the-may-17-deadline-to-file-and-pay-taxes

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  20-Apr-2021

Link to Original Article:  https://www.irs.gov/newsroom/taxpayers-should-file-their-tax-return-on-time-even-if-they-cant-pay-their-tax-bill-in-full

Original Article Source Credits:   The Balance Small Business , https://www.thebalancesmb.com/

Article Written By:  Jean Murray

Original Article Posted on:  April 12, 2021

Link to Original Article:  https://www.thebalancesmb.com/all-the-taxes-your-business-must-pay-399045

Original Article Source Credits:   Indeed , https://www.indeed.com/

Article Written By:  Indeed Editorial Team

Original Article Posted on:  March 15, 2021

Link to Original Article:  https://www.indeed.com/career-advice/career-development/bookkeeping-basics

Original Article Source Credits:   Forbes , https://www.forbes.com/

Article Written By:  David Rae

Original Article Posted on:  Apr 20, 2021

Link to Original Article:  https://www.forbes.com/sites/davidrae/2021/04/20/10-annoying-tax-mistakes-to-avoid-this-tax-season/?sh=4121fde078f7

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  March 16, 2021

Link to Original Article:  https://www.irs.gov/newsroom/tax-time-guide-irs-reminds-taxpayers-of-recent-changes-to-retirement-plans

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  March 18, 2021

Link to Original Article:  https://www.irs.gov/newsroom/tax-time-guide-use-the-wheres-my-refund-tool-or-irs2go-app-to-check-tax-refund-status