Tax

The City of Philadelphia has announced reduced tax rates for its: Changes to the Wage and Earnings tax rates become effective July 1, 2022.  The new NPT and SIT rates are applicable to income earned in…

The National Taxpayer Advocate (NTA), Erin M. Collins, has released her mid-year report to Congress. The report expressed concern about continuing delays in the processing of paper-filed tax returns and…

Beginning in 2022, the New Jersey College Affordability Act allows New Jersey taxpayers tax deductions for certain educational expenses. The deductions are targeted for taxpayers with gross income of $200…

The IRS announced that for the final 6 months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year.  While fuel…

Teachers and other educators planning ahead for 2022 will be able to deduct up to $300 of out-of-pocket classroom expenses when they file their federal income tax return next year. This is the first time…

Starting in 2022, you must file quarterly returns and must do so online on the Philadelphia Tax Center. They will no longer accept paper returns. Your first filing due date in the new schedule is May 2…

Since the start of the pandemic, many have found new employment outside of the traditional 9-5 workday. If you earned income from a freelance gig, you’ll need to report that on your taxes. Even if you…

It seems unlikely that the federal government will distribute a fourth stimulus check at this time. But even though the federal government is not issuing an official fourth stimulus check for everybody…

A special tax provision will allow more Americans to easily deduct up to $600 in donations to qualifying charities on their 2021 federal income tax return. Ordinarily, people who choose to take the standard…

The Internal Revenue Service reminds taxpayers that the last quarter of 2021 is a good time to check withholding. Life brings constant changes to individual financial situations. Events like marriage,…