History of Federal Income Tax Rates: 1913 – 2021

History of Federal Income Tax Rates: 1913 – 2021

A Comprehensive Look at Federal Income Tax Rates History The United States federal government levies taxes on the income of its citizens and legal residents. The Internal Revenue Service (IRS) is the agency responsible for collecting these taxes.  Federal income tax...
Buying an Electric Vehicle? Know These Tax Law Changes

Buying an Electric Vehicle? Know These Tax Law Changes

The Essential Guide to Electric Vehicle Tax Law Updates Are you thinking of buying an electric vehicle or a plug-in hybrid and taking advantage of the Electric Vehicle Tax Law Changes? If so, you have much to consider—thanks to the newlyenacted Inflation Reduction Act...
Dealing With The New 62.5 Cents Mileage Rate

Dealing With The New 62.5 Cents Mileage Rate

The Benefits of the Updated 62.5 Cents Mileage Rate Due to rising gas prices, the Internal Revenue Service (IRS) announced an increase in the standard mileage rate for business travel. As a result, small businesses that make use of the standard mile rates can deduct...