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Standard Mileage Rates for 2022

Standard Mileage Rates for 2022

Starting January 1, 2022, the standard mileage rates for the use of a car, van, pickup, or panel truck are as follows:

58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021
18 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, up 2 cents from the rate for 2021, and
14 cents per mile driven in service of charitable organizations. The charitable rate is set by statute and remains unchanged.

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Getting Ready for the 2022 Tax Filing Season

Getting Ready for the 2022 Tax Filing Season

While filing your tax return promises to be just as complicated as always – especially if you received stimulus payments or advance child tax credit payments – there are steps that taxpayers can take right now to make sure their tax filing experience goes smoothly in 2022

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Tips To Avoid Credit Card Debt This Holiday Season

Tips To Avoid Credit Card Debt This Holiday Season

Credit card balances typically follow a seasonal pattern, increasing significantly in the fourth quarter, coinciding with holiday shopping, and millions of taxpayers are still carrying debt from last year’s holiday season. Whether you are diligent about paying your credit card in full every month or are still paying down debt from a previous spending spree, these tips will help you avoid overspending this year and keep credit card spending on track.

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Tax Relief for Those Affected by Natural Disasters

Tax Relief for Those Affected by Natural Disasters

Recovery efforts after natural disasters can be costly. With floods, tornadoes, hurricanes, earthquakes, and other natural disasters affecting so many people throughout the U.S. this year, many have been left wondering how they’re going to pay for the cleanup or when their businesses will be able to reopen. The good news is that there is relief for taxpayers – but only if you meet certain conditions.

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What Is a Designated Roth Account?

What Is a Designated Roth Account?

Many 401(k) plans allow taxpayers to make Roth contributions as long as the plan has a designated Roth account. Your plan may also allow you to transfer amounts to the designated Roth account in the plan or borrow money.

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