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WHAT EVERY EMPLOYEE NEEDS TO KNOW ABOUT 401(K) SAVINGS

Are you familiar with 401(k) retirement funds? More and more employers are offering 401(k) plans as an employee benefit, and if you have the option and are not currently taking advantage of it, it may be time to rethink your savings strategy. Not only do these popular...

IRS increases mileage rate for remainder of 2022

IR-2022-124, June 9, 2022 WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating...

VACATION HOME RENTALS: HOW THE INCOME IS TAXED

Article Highlights: Home never rented Home rented for fewer than 15 days Home rented for at least 15 days with minor personal use Home rented for at least 15 days with major personal use Vacation home sales If you have a second home in a resort area, or if you have...