New IRS Guidance for Real Estate Developers
Executive Summary On January 27, 2023, the IRS released Rev. Proc. 2023-09, which provides new rules and conditions for determining when common improvement costs may be included in the basis…
Executive Summary On January 27, 2023, the IRS released Rev. Proc. 2023-09, which provides new rules and conditions for determining when common improvement costs may be included in the basis…
The IRS has released the updated tax brackets, deductions and credits for the 2023 tax year. While tax filing for this year will not happen until early 2024, it is…
The IRS has released its regularly scheduled announcement for the annual increase in the standard mileage rate (Notice 2023-03). The 2023 mileage rate is now 65.5 cents per mile. The…
Every taxpayer has felt the pain of soaring inflation in 2022 and there are no signs of relief coming soon. Taking advantage of the Last In First Out method (LIFO)…
As we wrap up 2022, it is important to take a closer look at your tax and financial plans and discuss steps that can be taken to reduce taxes. Though…
With the end of 2022 fast approaching, now is the time to review the rules and planning considerations for charitable donations. This article will help individuals assess the limits and…
The Internal Revenue Service (IRS) published its cost-of-living adjustments for the 2023 tax year that will affect dollar limits for pension plans and other retirement-related taxes. To learn more about…
The Texas Travel Industry Grant Program, an initiative from the Office of the Governor, provides grants to businesses in the tourism, travel and hospitality industry that were negatively impacted by…
By Alex Smith, CPA Certain chemical excise taxes that last saw the light of day back in the mid-1990s, are back and could apply to many more companies than just…
By Alex Smith, CPA In an unusual step, the IRS increased the standard mileage rate to 62.5 cents per mile for the second half of 2022, effective July 1, 2022…