How Your State of Residency Affects Estate Taxes

How Your State of Residency Affects Estate Taxes

Estate planning is never an exciting topic, but it is crucial to set up your loved ones for success. If you would like to create the best estate plan for your future, it is essential that you first have an understanding of estate taxes.  When considering estate...
Increase in Tax Collection and Audits

Increase in Tax Collection and Audits

The IRS and state governments are currently moving their attention toward tax collections and examinations. This means that there will be increasing compliance and enforcement effort made by tax authorities. Previously, we have seen many extensions and suspensions...
Increase in Sales Tax Audits

Increase in Sales Tax Audits

Although COVID-19 took a toll on our economy, multiple states fared well with tax revenue during this time. Due to consumer spending remaining resilient during the pandemic, states were able to see their tax revenue remain steady or increase. Unfortunately, thanks to...
IRS Raises Mileage Rate for Remainder of 2022

IRS Raises Mileage Rate for Remainder of 2022

In order to help combat the high fuel prices, the Internal Revenue Service announced that they will be increasing the optional mileage rate for the final 6 months of 2022. Effective July 1 through December 31, 2022, the new mileage rate for the business use of...

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