IRS issues standard mileage rates for 2020

WASHINGTON — The Internal Revenue Service today issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard mileage...

How the New Tax Law May Affect your Retirement Plans

Bear says: “Why retire? I really like coming to work with Dad every day and meeting all our friends”. Boo says: “You are retired. I do all the work”. Estate Tax Exemption: Congress increased the amount that you can leave, or gift, to your heirs tax free to about $10...

Tax Cuts and Jobs Act – Businesses

On December 22, 2017, legislation put into effect the most sweeping tax since the Tax Reform Act of 1986 was signed into law. The Tax Cuts and Jobs Act of 2017 (TCJA) significantly reduces the income tax rate for corporations. It also provides a large new tax...