Legal Updates for Taxes

New Federal Income Tax Brackets for 2023

October 18, 2022. The IRS announced higher federal tax brackets and standard deductions for 2023 to adjust for inflation.

How Biden’s Student Loan Forgiveness Plan Affects Your Taxes

August 30, 2022. You won't owe federal taxes on student loans that the government cancels in 2021 through 2025. But forgiven student loan debt could be taxable in a few states.

New Tax Law Extends the Expanded Obamacare Premium Tax Credit Through 2025

August 16, 2022. The Inflation Reduction Act extends the temporary exception to the 400% of federal poverty level cap for premium tax credits through 2025.

Deducting Your State Income Taxes with a Pass-Through Entity

June 23, 2022. Many states have adopted an optional pass-through entity (PTE) tax that effectively enables some business owners to deduct state income tax on their business income without limit.

New Tax Reporting Rules Start in 2022 for Payments by PayPal and Other Third-Party Payment Providers

January 1, 2022. In the past, the IRS often didn't know about payments made through PayPal or similar services. But in 2002, new tax reporting rules take effect.

Uber Drivers are Contractors Not Employees According to the NLRB

The decision means Uber drivers have no federal right to unionize but doesn't impact other lawsuits under state and federal tax and employment laws.

Do Landlords Need to File Form 1099-NEC?

All landlords should file Form 1099-NEC to qualify for important tax benefits including the 20% pass-through deduction.

The Tax Cuts and Jobs Act: Key Changes for Individuals

January 1, 2018. Here are some of the most important changes for your personal taxes under the new tax law.

The Tax Cuts and Jobs Act: Key Changes for Businesses

January 1, 2018. Here are some of the most important changes for businesses under the new tax law.