standard

Home|Tag: standard

IRS increases standard deductions, estate tax exemp, annual gift, etc. due to inflation for 2025

As communicated each year, the IRS has updated some of the deductions, tax exemptions, tax exclusions and other tax items based on inflation. In several media, this has been celebrated as the IRS increasing the threshold and in some cases creating clickbait headlines to attract readers, but the reality is that each fall the IRS

By |2024-10-24T02:05:16+00:00October 24th, 2024|Categories: Business, Individuals|Tags: , , , , , , , , , , , |

IRS released the standard mileage rates for 2022

In mid December 2021, the IRS released the standard mileage rates for the use of a car (also vans, pickups or panel trucks) beginning January 2022 will be: 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021, 18 cents per mile driven for medical, or moving purposes for

By |2022-01-04T14:23:59+00:00December 20th, 2021|Categories: Business|Tags: , , , , , |
Go to Top