ThomsonReuters

DECEMBER 23, 2020

22, 2020); IRS News Release IR-2020-279 (Dec. The IRS has announced the 2021 standard mileage rates for business, medical, and other uses of an automobile, and the 2021 vehicle values that limit the application of certain rules for valuing an automobile’s use. IRS Notice 2021-02 (Dec. News Release. Fixed costs (e.g.,

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Transportation Tax Account accountant 98

ThomsonReuters

FEBRUARY 18, 2021

IRS Publication 15-B (Employer’s Tax Guide to Fringe Benefits (For use in 2021)). The publication reflects relief for health and dependent care FSAs that allows employers increased flexibility for election changes, carryovers, and grace periods (among other things) in 2020 and 2021 (see our Checkpoint article ).

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ThomsonReuters

MARCH 4, 2021

IRS Form 2106 (Employee Business Expenses) and Instructions (2020). The IRS has released the 2020 version of Form 2106, used to determine and claim employee business expense deductions. Here are highlights: Standard Mileage Rates. For 2020, the business standard mileage rate is 57.5 Instructions.

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Expense Reimbursements Government Tax Account 52

ThomsonReuters

FEBRUARY 3, 2022

The IRS has released updated versions of Publications 502 and 503 for the 2021 tax year. Publication 502 describes the medical expenses that are deductible by taxpayers on their 2021 federal income tax returns. The 2021 version of Publication 502 is substantially similar to its 2020 counterpart. Relevant dollar amounts (e.g.,

income tax 96

income tax tax return Tax Account 96

LyfeAccounting

APRIL 23, 2021

And what if we told you the business tax code was actually set up for you to do so? Now unless you’re an accountant reading this then we know you didn’t go to school to learn taxes and you probably don’t spend your weekends binge reading the tax code. Standard Mileage Rate. And that deduction in 2020 is 57.5

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Tax quickbooks Real Estate accounting and finance 52

ThomsonReuters

JANUARY 28, 2021

IRS Publication 502 (Medical and Dental Expenses (for 2020 Returns)). The IRS has released an updated version of Publication 502 for the 2020 tax year. Publication 502 describes the medical expenses that are deductible by taxpayers on their federal income tax returns. Available at [link]. Relevant dollar amounts (e.g.,

income tax 52

income tax tax return Tax Account 52

LyfeAccounting

MAY 21, 2021

What if we told you that every year LLC owners overpay on their taxes. Some fail to tax plan but most simply miss out on the biggest tax write offs for LLC businesses. So keep on reading, because today, we’re going to reveal the biggest tax write offs for LLC businesses that you can take advantage of. That’s right!

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