New Clean Vehicle Credit

The new clean vehicle credit in effect in 2023 has numerous requirements. In addition to meeting the manufacturing requirements (which the licensed dealer should be able to provide), there is an income limitation based on…

Payment Apps and Form 1099-K

Taxpayers who were paid for goods and services through a third-party payment network, such as PayPal, Venmo, eBay, etc. will now receive a reporting form “Form 1099-K Payment Card and Third-Party Network Transactions” once the…

Employee Retention Credit (ERC)

Due to the COVID/pandemic, the federal government established the Employee Retention Credit (ERC) to provide a refundable employment tax credit to help businesses with the cost of keeping staff employed. Eligible businesses that experienced a…

Clean Energy Incentives

The recently passed Inflation Reduction Act expanded on several tax incentives for taxpayers that choose energy efficient alternatives. Some of the key changes include: The Act increased the nonrefundable personal tax credit for having qualified…