January, 2024
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Innovation Could Create an Investment Tax Credit for Transportation, Logistics
It’s cold here in Wisconsin right now but sometimes winter produces the brightest days. Plus, it’s that time of year when we think about taxes. Given that, let’s talk solar power and tax credits. If you are seeking ways to reduce your utility bill, decrease your business’s environmental impact, acquire equipment to depreciate, and receive […]
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Tax Relief On The Way?
This week Jason Smith (R), the House Ways and Means Committee Chair and Ron Wyden (D), the Senate Finance Committee Chair announced a bi-partisan agreement they called “The Tax Relief for American Families and Workers Act of 2024.” The proposed legislation includes some significant changes that could provide some tax relief for transportation and logistics […]
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IRS Issues Standard Mileage Rates for 2024
Beginning January 1, 2024 the standard mileage rates for automobiles have been updated. 67 cents per mile driven for business use 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces 14 cents per mile driven in service of charitable organizations The business use amount noted above […]
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DOL Releases Final Rule for Determining Contractor Status
Earlier this week, the DOL finalized its ruling on determining employee or independent contractor status under the Fair Labor Standards Act (FLSA). The DOL put out the proposed ruling back in October, and the final ruling mainly follows the proposed regulations. The new regulations will mainly analyze independent contractor status on a “totality-of-the-circumstances” basis, which […]