The Internal Revenue Service announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. For the final 6 months of 2022, the standard mileage rate forRead more about Increased Mileage Rate for Remainder of 2022[…]

A lot of young people find themselves going into business each summer. Jobs like babysitting, lawn mowing, and dog walking teach responsibility and the value of hard work. But they also might come with an unexpected tax bill, because – whether they realize it or not – many of these young entrepreneurs are self-employed, andRead more about Kids, Summer Jobs, and Taxes[…]

It’s that time of year again. Summertime! The time of year when we all enjoy warm weather, vacation, and reviewing our federal tax witholding. Well, maybe we don’t all enjoy reviewing our federal tax witholding, but it’s definitely something that we all should do each year. And summertime is a good time to do it.Read more about It’s Time to Review Your Federal Withholding[…]

Due to unforeseen circumstances, this event has been postponed. We will make another announcement when it has been rescheduled. You are invited to Roberts’ Dynasty LLC for our Customer Appreciation Day! We offer this as a grateful shout-out to our dedicated customers. There will by music, refreshments, and face painting! Saturday, July 30, 2022 12:00Read more about Customer Appreciation Day – POSTPONED[…]

Now that Memorial Day has passed, many people are thinking more about summer vacations than taxes. But summer is a great time to review withholding and see if your summer plans will affect next year’s tax return. Here are some common summertime tax situations and tips to help you figure out if they apply toRead more about Summertime Tax Planning Tips[…]

Everyone knows that it’s tough to find employees right now. It seems like every business has a “Help Wanted” sign in their front window. With the employment market so tight, the federal government has taken steps through the Work Opportunity Tax Credit (WOTC) to encourage businesses to consider employees that have historically been overlooked byRead more about Work Opportunity Tax Credit Extended[…]

It’s tough owning a small business in the current environment. It can be difficult to get needed supplies, prices keep going up, and it can be stressful trying to grow your business. Luckily there are a few tax breaks that can make running a business a little bit easier. Enhanced business meal deduction If youRead more about Tax Benefits for Small Businesses[…]

The April 18th income tax deadline has come and gone, but that doesn’t mean that everyone is finished dealing with their taxes. Many people, for a variety of reasons, might still have some loose ends from this past tax season that need to be tied up. Here are some of the more common ones, andRead more about Resolving After-Tax-Day Issues[…]

Most people have a hobby. Maybe it’s scrapbooking, or maybe it’s restoring vintage cars. Our hobbies are important because they help us relax from the stress of everyday life and because they bring us enjoyment. But what happens when someone with a scrapbooking hobby starts to sell some of his greeting cards? Or when aRead more about Is It a Hobby or Business?[…]

You may have noticed that there is a virtual currency, or “cryptocurrency”, question at the top of your 2021 tax return. It asks, “At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?” and it requires a response of “Yes” or “No.” If you’veRead more about Cryptocurrency Disclosure[…]