IRS Issues Standard Mileage Rates for 2021

This article was published by the IRS. The Internal Revenue Service has issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel [...]

New Things Taxpayers Should Consider as They Get Ready to File Taxes in 2021

This article was published by the IRS. When people get ready to file their federal tax return, there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund the taxpayer may receive. Here are some new key things people [...]

Town of Plymouth’s COVID-19 Update – 12/22/20

Heather appeared again in this week’s Tuesday episode (December 22, 2020) of the Town of Plymouth’s “COVID-19 Daily Update” to explain the ramifications of the new COVID-19 relief bill passed by Congress earlier this week. (UPDATE: President Trump has since asked Congress to review certain aspects of the bill before he will sign it into law.) [...]

Special $300 Tax Deduction Helps Most People Give to Charity This Year – Even If They Don’t Itemize

This article was published by the IRS. The Internal Revenue Service is reminding taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year, cash donations of up to $300 made before December 31, [...]

How the CARES Act Changes Deducting Charitable Contributions

This article was published by the IRS. Whether taxpayers are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that's personally meaningful to them, their charitable donations may be tax deductible. These deductions basically reduce the amount of their taxable income. Here's how the CARES Act changes deducting charitable contributions made in 2020: Previously, charitable [...]

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