Association Dues Are Fully Deductible
Members can claim the full amount of dues paid as an ordinary and necessary business expense.
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IRS
IRS Bumps Up Mileage Rate for 2023
The IRS announced that standard mileage rate in 2023 will be 65.5 cents per mile, up from 62.5 cents per mile from last year.
Read moreProtect Your Identity: Tax Security Awareness Week
On Cyber Monday, the IRS kicked-off National Tax Security Awareness Week. The holiday season is in full swing – a prime opportunity for identity thieves to steal your personal financial info.
Read moreIRS Hikes Standard Business Milage Rate Mid-Year
IRS has increased the standard business travel reimbursement rate to 62.5 cents per mile, up 4 cents from the rate of 58.5 cents that went into effect in January.
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Retirement Contribution Limits to Change in 2022
Taxpayers in 2022 can put an extra $1,000 into their 401(k) plans.
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IRS Makes Consequential Change to PPP Rules
The IRS is disallowing tax deductions on PPP expenses if a company “reasonably believes” that a loan may be forgiven.
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Members With More Than One Business, Take Note
In cases in which a single employer has aggregated companies, if one company receives a PPP loan, all companies within the group are prohibited from claiming the employee retention credit.
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Employers: Use New W-4 Form
The new W-4 form is required for employees who receive their first check in 2020 and employees who want to change something on their Form W-4.
Read moreMember Dues 100 Percent Deductible
For the Association’s most recently concluded fiscal year, the cost of membership dues are completely deductible.
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IRS 2020 Standard Milage Rate
IR-2019-215, December 31, 2019 WASHINGTON — The Internal Revenue Service has issued the 2020 optional standard mileage rates (PDF) used to calculate
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Prepare for Changes to W-4
New employees must complete the new W-4 form in 2020, as will employees who wish to adjust their withholding.
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