standard mileage deduction car

IRS Standard Mileage Rate 2022

Higher gas prices have one silver lining: a higher IRS mileage deduction standard rate. Every year, the IRS updates the standard amount one can deduct for each mile driven for business or miles driven for charitable purposes. The amount of the IRS standard mileage rates … Read More

charitable contributions

Charitable Contributions Tax Deduction

Republicans passed the Tax Cuts and Jobs Act in 2017 reshaping the way many Americans pay taxes. Apart from the uninspired, and obvious marketing, based name, the law made some deductions disappear. It tried to fill in those deductions by giving everyone a higher standard … Read More

new 2022 tax numbers

New 2022 Tax Numbers Released – Good News for Taxpayers

The IRS just released the new tax inflation adjustments for 2022. As you are likely aware the IRS adjusts some tax deductions and income limits for inflation each year. The new 2022 tax numbers are higher across the board thanks to higher than the last … Read More