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Inflation Reduction Act Expands Deductions for Energy-efficient Construction
Can you benefit from the Inflation Reduction Act’s expansion of two tax incentives for energy-efficient construction of commercial and residential buildings? These incentives are the Sec. 179D deduction and the Sec. 45L credit.
What do the 2023 cost-of-living adjustment numbers mean for you?
The IRS recently issued its 2023 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, many amounts increased considerably over 2022 amounts. As you implement 2022 year-end tax planning strategies, be sure to take these 2023 adjustments into account.
The IRS Has Just Released Its 2023 Inflation Adjustments for Many Tax Provisions.
The IRS has just released its 2023 inflation adjustments for many tax provisions. The standard deduction will increase: $900 to $13,850 for single taxpayers; $1,800 to $27,700 for married couples filing jointly; and $1,400 to $20,800 for heads of household.
Illinois Secure Choice Act: Effective November 1st, 2022, Employers with 16 or more Employees
Illinois Secure Choice is a program established by the Illinois Secure Choice Savings Program Act. Effective November 1, 2022, the Program applies to employers with 16 or more employees and applies to employers with 5 or more employees as of November 1, 2023. 
Providing Fringe Benefits to Employees with No Tax Strings Attached
Your business may provide low- or no-cost tax-free fringe benefits to employees. Here are the details of these benefits, along with a court case in which an employee was found to have received a taxable benefit but he didn’t include its value in his income.
Did you know you can deduct marketing expenses for your small business?
Do you operate a small business? You can deduct the costs involved in bringing in new customers and keeping existing ones, including advertising and marketing expenses.
Investing in the Future with a 529 Education Plan
The cost of college has risen steeply in recent years so families are wise to begin saving early. Here’s how 529 plans can help you save on a tax-advantaged basis.
Trust in a Trust to Keep Assets Secure
Asset protection isn’t about evading legitimate debts, hiding assets or defrauding creditors. Rather, it’s about preserving your wealth for future generations in the face of creditors’ claims or frivolous lawsuits.
If You’re Moving Out of State, Review Your Estate Plan
A common piece of estate planning advice is to review your estate plan in light of a major life change. This can include getting married, having a baby or getting a divorce. Add one more event to that list: moving out of state.
Work Opportunity Tax Credit Provides Help to Employers
Many small businesses are in need of new employees and may get creative in their hiring. The Work Opportunity Tax Credit can help if you hire from certain targeted groups.
Inflation Reduction Act Expands Valuable R&D Payroll Tax credit
The Inflation Reduction Act expands the R&D payroll tax credit for eligible small businesses for tax years beginning after Dec. 31, 2022. Learn more about what’s new and what requirements must be met to qualify.
Year-end Tax Planning Ideas for Individuals
By planning ahead now, you may be able to save on your 2022 and 2023 tax bills. Here are some ideas to consider.

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