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IRS Announces Standard Mileage Rate Increase Beginning July 1, 2022

Due to the recent surge in gasoline prices, the Internal Revenue Service (IRS) has revised the optional standard mileage rate, increasing it by 4 cents for the remainder of 2022. Click above to learn more.

Qualified Plug-In Electric Motor Vehicle Credit

Investing in an electric vehicle can be an effective way to reduce the environmental impact of gasoline emissions and cope with rising gas prices. IRC §30D provides a credit for qualified plug-in electric motor vehicles. Click above to learn more.

Update on North Carolina Pass-Through Entity Tax and 2022 Estimated Tax Payments

For tax years beginning after 2021, partnerships and S Corporations can make a Pass-Through Entity Tax (Taxed PTE) Election to pay North Carolina income tax at the entity level creating a deduction against pass-through federal income. Click above to find out more.

The Do’s and Don’ts of Nonprofit Expense Reimbursement

It is necessary that a nonprofit goes about the expense reimbursement process in a way that adheres to IRS guidelines. Learn more about the do’s and don’ts.

By |2022-06-10T11:42:17-04:00July 30th, 2021|Articles, Not For Profit, Uncategorized|0 Comments
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