Highlights of the Infrastructure Investment and Jobs Act

Business, Individuals, News, Newsletter

Highlights of the Infrastructure Investment and Jobs Act While the recently passed Infrastructure Investment and Jobs Act primarily addresses infrastructure-related issues, it includes several tax provisions affecting individuals and small business taxpayers. Let’s take a look: Individuals Cryptocurrency Reporting. Cryptocurrency reporting requirements are expanded to stem underreporting of cryptocurrency transactions. However, some have raised concerns that…

Marginal vs. Effective Tax Rates

Business, Individuals, Newsletter

Marginal vs. Effective Tax Rates Understanding marginal and effective tax rates are important for tax planning purposes; however, many taxpayers don’t fully understand the differences. Let’s take a closer look: Marginal Tax Rate The United States has a progressive tax system. The more money you earn, the higher your tax rate is and the more…

E-Signatures Extended for Many Tax Forms

Individuals, Newsletter

E-Signatures Extended for Many Tax Forms To help reduce the burden to taxpayers brought about by the coronavirus pandemic, the use of electronic or digital signatures on certain paper forms they normally cannot file electronically has been extended through December 31, 2021. Let’s take a look at what this means for taxpayers: Types of acceptable…