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YEAR-END TAX SAVINGS OPPORTUNITIES

Oct 26, 2022 | Blog, Business Tax, Personal Tax

Tax planning is one of the best ways we know to reduce your tax bill, and at RMS Accounting we take a proactive approach to helping clients pay the lowest amount of tax allowed by law. We do this through a two-step process. Step 1 requires us to keep up to date with...

Tax Relief for Victims of Hurricane Ian in Florida

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...

2022 Changes to the Credit for Electric Vehicles

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...

2022 Educator Expense Deduction Increased to $300

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,...

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YEAR-END TAX SAVINGS OPPORTUNITIES

Tax Relief for Victims of Hurricane Ian in Florida

2022 Changes to the Credit for Electric Vehicles

2022 Educator Expense Deduction Increased to $300

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