Beginning January 1, 2026, the standard mileage rates will change due to economic conditions. The business mileage rate will increase to 72.5 cents per mile, up 2.5 cents from 2025. For medical or moving purposes, the rate will rise to…
The IRS is modernizing its refund processes by transitioning away from paper checks and fully embracing secure electronic transactions. These changes will impact how you receive refunds or disbursements. How Will You Receive Tax Refunds How to Prepare for The…
We are excited to announce that Adam Maharry has joined the BakerStarrett team as our newest Accountant in the Bookkeeping Department. Adam brings a strong educational background, deep local roots, and plenty of enthusiasm to our growing firm, and we…
We are excited to announce that Jill Yule has joined BakerStarrett as an Accounting Manager, focusing on supporting our bookkeeping clients. Jill brings a wealth of experience in accounting and business management, along with a commitment to service, accuracy, and…
In 2020, the federal government released a new Employee’s Withholding Certificate W-4 form. Although the form has been around for a few years, misunderstandings persist. Incorrect information on this form can have an unforeseen impact on your year-end tax liability.…
When it comes to using your vehicle for business purposes, understanding how you can deduct expenses is crucial. The IRS provides two primary methods to choose from: actual costs and the standard mileage rate. Each method comes with its own set of rules…
You guessed it: All of them. And if possible, share the documents with your tax pro at the same time. As Congress has made the tax code more complex, taxpayers are receiving more and more tax documents that may need…
Meeting with your accountant can be a stressful endeavor. They often use terms that non-accountants may not understand. The following is a list of terms that can help you better understand what your accountant is talking about the next time…
Introduction As the 2024 tax season comes to an end, there is an important reminder for farmers about their tax obligations. For those opting out of making estimated tax payments in January, it’s crucial to be aware of the upcoming…
We are thrilled to announce the newest addition to our team, Leslee Porath, who joins us as an Administrative Assistant. Leslee will be one of the first friendly faces you see when you walk through our front door, ready to…