As of October 1, 2021, Missouri’s motor fuel tax rate increased to 19.5 cents per gallon. You may be eligible to receive a refund of the 2.5 cents tax increase you pay on Missouri motor fuel if: Your vehicle weighs less than 26,000 pounds Your vehicle for highway use You purchased fuel in Missouri [...]
The IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this year. In fact, as of June 13, the nationwide average price of regular unleaded gas was $5.01 a gallon, according to the AAA Gas Prices [...]
Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes to retirement and estate planning strategies, but it also raised some questions. The IRS has been left to fill the gaps, most recently with [...]
If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by new tax reporting requirements that take effect for 2022. They don’t alter your tax liability, but they could add to your recordkeeping burden, as well as the number of tax-related documents [...]
Are you looking for 70% Missouri Tax credits? Missouri recently changed a law to the qualified Pregnancy Resource Center (PRC) credit, beginning Jan. 1, 2021, to increase from 50% to 70% for centers that applied and were approved. Then, on July 1, 2021, the allotment went from a very limited amount spread across all [...]
