by Steven J Weil, PhD, EA, LCAM | Oct 7, 2022 | Blog, Business Tax, Personal Tax
The IRS Announced Tax Relief for Victims of Hurricane Ian in Florida on September 29, 2022. Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in certain areas will receive tax...
by Steven J Weil, PhD, EA, LCAM | Oct 3, 2022 | Blog, Business Tax, Personal Tax
Changes in the Electric Vehicle Tax Credit The Inflation Reduction Act of 2022 includes changes to the credit available for electric vehicles. The changes are complex, and phase in over time. If you are in the market for an electric vehicle, we should review the new...
by Steven J Weil, PhD, EA, LCAM | Sep 19, 2022 | Blog, Personal Tax
The educator expense deduction has been increased for this year. Now teachers and other educators can deduct up to $300 in out-of-pocket classroom expenses when they file their 2022 federal income tax return. Who qualifies? Anyone who, is a teacher, instructor,...
by Steven J Weil, PhD, EA, LCAM | Aug 31, 2022 | Blog, Business Tax, Personal Tax
Penalty Relief: IRS Notice 2022-36 The IRS has announced broad-based penalty relief for certain 2019 and 2020 returns due to the COVID-19 pandemic. The penalty relief will be automatic for people and businesses who qualify. Relief applies specifically to the failure...
by Steven J Weil, PhD, EA, LCAM | Aug 24, 2022 | Blog, Investments, Personal Tax
Today, August 24th 2022, President Biden announced a program to forgive student debt for qualifying taxpayers. According to the announcement, those with qualifying student loans could receive between $10,000 and $20,000 in forgiveness. Pell Grant recipients can...
by Steven J Weil, PhD, EA, LCAM | Aug 16, 2022 | Blog, Business Tax, Personal Tax
Colleges Now Allow Student Athletes to Profit from the Use of Their Name, Image, or Likeness The National Collegiate Athletic Association (NCAA) is now allowing athletes to receive compensation for the use of their name, image, or likeness (NIL). This new source of...
