Have you had a chance to analyze how your cash flow fared in 2022? If not, you probably got caught up in a lot of year-end tasks. But once the holidays are over and you’ve turned the calendar page to 2023, it’s time to start thinking about how you can accelerate your receivables next year. […]

As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2022. Personal Exemptions Personal exemptions are eliminated for tax years 2018 through 2025. Standard Deductions The standard deduction for married couples filing a joint return in 2022 is $25,900. For singles […]

Here’s what business owners need to know about tax provisions for 2022: Standard Mileage Rates Due to inflation, there were two standard mileage rates in 2022: 62.5 cents per business mile driven (July 1-December 31, 2022) and 58.5 per business mile driven (January 1-June 30, 2022). Health Care Tax Credit for Small Businesses Small business […]

Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2023 are as follows: 401(k), 403(b), 457 plans, and Thrift Savings Plan. Contribution limits for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan increases to $22,500, up from $20,500. The catch-up contribution […]