Our Blog & News

This Month’s Posts:

2023 New Year’s Resolution

At the start of the year, it's a great time to make a resolution to take care of your financial health.  A good start?  Review your paystub, employer provided benefits and overall financial plan: Will you turn age 50 in 2023? Include the $7,500 annual catch-up...

Reminder – 4th Q Estimated Taxes Due Jan. 17.2023

If you pay estimated tax payments, don't forget that the 2022 4th quarter's payment is due on Tuesday, January 17, 2023. If you're self-employed or have other income without any tax withholding, and you make quarterly estimated tax payments, this is the due date for...

IRS announces Higher Standard Mileage Rates For 2023

From the IRS News Article - IR-2022-234, December 29, 2022: The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes....

IRS Audit Update

The IRS plans to focus on reversing the current trend of deceasing IRS audits that have occurred over the last ten years. The recently passed Inflation Reduction Act provides $79.6 Billion to the IRS to improve its operations and efficiency. The funding is to be...

RE: 2023

Personal financial planning is an ongoing process. Financially speaking, 2022 was a challenging year for many of us. For the first time in many years, the stock markets were well off their all-time highs. Real estate prices around the country are teetering from their...

Last Month’s Posts:

EV Update

For Electric Vehicles (EV) purchased in 2022 – new rules take effect after August 16. In our September article available at: Energy and EV Credits in Recent Inflation Reduction Act - Schwartz & Schwartz PC (schwartzaccountants.com), we highlighted the new rules...

Ten Tips To Cut Your 2022 Taxes

As the year winds down, now is the time to take steps to cut your 2022 tax bill while also not deferring too much taxable income into 2023 to push you into the next tax bracket. Prior to December 31st: Increase your 401(k) and 403(b) contributions if you haven’t been...