SJG Blog
The Latest on the Corporate Alternative Minimum Tax
A new Corporate Alternative Minimum Tax (CAMT) was enacted when the Inflation Reduction Act was signed into law in 2022. The tax is expected to raise a significant amount of revenue for the government. Businesses and their tax and finance teams should now dig into the details of the CAMT
Energy-Related Tax Incentives for Businesses Under the Inflation Reduction Act (IRA)
The 2022 Inflation Reduction Act (IRA) included an array of tax credits to encourage businesses to invest in energy efficiency. Here are a few of the energy-related tax incentives that businesses may consider pursuing. Energy Efficient Commercial Buildings Deduction for Businesses Starting in 2022, the IRA expanded the energy efficient
Get Ready to File Taxes: What’s New for the 2023 Tax Filing Season
Tax season is here, and the last day to file taxes for 2022, or to file a tax extension, is Tuesday, April 18, 2023. Taxpayers requesting an extension will have until Monday, October 16, 2023, to file. What to Consider When Filing Your 2022 Taxes. Reporting rules changed for Form
Automobile Standard Mileage Rates – Business Use Increases for 2023
The IRS has issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. The standard mileage rate is often used by employers to calculate the amount to be reimbursed to employees for the mileage they drive
Understanding Filing Requirements for Forms in the 1099 Series
As we near the end of 2022, it’s time for businesses to review their year-end tax reporting requirements. Over the last few years, the Internal Revenue Service (IRS) has made significant updates to the Form 1099 series. While there are a number of different forms in the 1099 series, our
New for ’22: Georgia’s Pass Thru Entity Election (PTET), aka SALT Cap Workaround
The IRS has issued a special midyear increase to the 2022 standard mileage rates due to the rising cost of gasoline. Effective July 1, 2022, there will be an increase of 4 cents for business and medical/moving mileage.
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IRS Form W-9 Best Practices
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