Current Info

Tax Season is right around the corner!


Time to start thinking about planning for your 2024 taxes and getting all of your paperwork together.

Beginning 2024 the mileage rates will be as follows:

67 cents per mile driven

21 cents per mile for medical or moving purposes for qualified activ-duty members of the Armed Forces .

14 cents per mile  for charitable organizations 

For your 2024 taxes, the standard deduction is being raised a little.  

$14,600 for Single Filers and married couples that file separate
$21,900 for Heads of Household
$29,200 for Married couples filing jointly
$1,550 extra for each married taxpayer 65 or older

There is one large change for anyone that has an S Corp, Corporation, LLC, Partnership, Trust, and anyone that would be registered with the Secretary of State when opening their entity. This must be completed online, but it is not due until the 1st of January, 2025.

For most of you it is pretty straightforward, just a need to collect the information required. This requirement is mandatory, and you can be accessed a penalty if you do not comply.

More information can be found in the 'articles' section.

http://boiefiling.fincen.gov

This year there will not be a special write off for cash gifts for those that do not itemize.