Tax Advice | TaxGenuity, Inc. - Tax Experts & IRS Problem Solvers

Working Remotely Could Affect Your Taxes

by TaxGenuity Tax Experts | Feb 10, 2022 | Tax Advice

When COVID-19 struck, many employers quickly switched to a work-from-home model for their employees. Many of them began working in a state other than where their office was located. While some workers have returned to their offices, as the pandemic drags on, more...

Important Tax Changes for Individuals and Businesses

by TaxGenuity Tax Experts | Feb 8, 2022 | Tax Advice

Every year, it’s a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead....

Three Tips for Getting an Accurate Business Valuation

by TaxGenuity Tax Experts | Feb 7, 2022 | Tax Advice

If you’re conscientious about financial reporting, you may already have a sense of your company’s worth, but in some instances, you might need a formal business valuation, such as: Certain transactions: Are you selling your business? Planning an IPO? Need...

What’s New for IRS Form 1040 This Year

by TaxGenuity Tax Experts | Feb 4, 2022 | Tax Advice

If you’ve gathered your tax documents and are ready to tackle your tax return, there’s one more step you should take: becoming familiar with what’s new on the 2021 Form 1040. While the format of Form 1040 and its schedules remain similar to 2020,...

Standard Mileage Rates for 2022

by TaxGenuity Tax Experts | Feb 3, 2022 | Tax Advice

Starting January 1, 2022, the standard mileage rates for the use of a car, van, pickup, or panel truck are as follows: 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021 18 cents per mile driven for medical or moving purposes for...

Tax Credits for Accommodating Disabled Workers

by TaxGenuity Tax Experts | Feb 2, 2022 | Tax Advice

Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions. Let’s take a look at a few of the tax incentives that are available to encourage employers to hire...

The 2022 Tax Filing Season: What You Need to Know

by TaxGenuity Tax Experts | Feb 1, 2022 | Tax Advice

Monday, January 24, 2022, was the official start to this year’s tax season. By now, everyone should have received most of the information they need to make sure they file a complete and accurate return. The start date for individual tax return filers is...