As the “clean” vehicle market continues to expand, tax rules regarding incentives and credits are subject to changing EPA and commerce legislation. The articles below spell out the latest requirements, and explain Form 8936, for claiming clean vehicle credits.
There has been a lot of news recently about checks being stolen from the mail and “washed” or sold to the highest bidder on illegal websites. This article from the IRS website linked below is evidence of the efforts being made to prevent check theft and mail fraud within the organization.
U.S. Postal employee and two co-conspirators are arrested for $24 million stolen check scheme.
Here are a few things to remember as you are collecting the information you need to file your taxes.
The best way to insure speedy processing is to make sure you provide your tax preparer with all the necessary information and totals, but keep your receipts handy at home!
We have updated our chart showing the Adjusted Gross Income (AGI) amounts and corresponding Roth contribution limits for Tax year 2023.
| Filing Status | 2023 Modified AGI | Contribution Limit |
|---|---|---|
| Married Filing Jointly | Less than $218,000 | $6,500 ($7,500 if you’re age 50 or older) |
| $218,000 to $228,000 | Reduced | |
| $228,000 or more | Not eligible | |
| Single, Head of Household, or Married Filing Separately (and you didn’t live with your spouse at any time during the year) | Less than $138,000 | $6,500 ($7,500 if you’re age 50 or older) |
| $138,000 to $153,000 | Reduced | |
| $153,000 or more | Not eligible |
We continue to encourage everyone to use the client portal for the safest transfer of documents, but are happy to be able to provide alternatives to accommodate what works best for you!
Priority Mail is best! The U.S. Post Office offers free tracking with Priority Mail, and has the best rates for anything under two pounds. We do NOT recommend sending via FedEx. Our FedEx delivery person often leaves packages in the main building lobby rather than bringing them to our office.
Reminder: We do not need your medical receipts, only the total you spent if you think you have enough to deduct.
Did you know you can pay your Business Bookkeeping Services invoice online? We have a secure payment gateway which can be accessed from the homepage of our website for your convenience. You can pay your invoice by credit card through this link instead of writing a check! Easy.
