The following article was published by the IRS. The Internal Revenue Service has issued the 2020 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, 2020, the standard mileage rates for the use of a car (also vans, pickups or [...]
This video was published by the IRS. One of the first things to figure out with your taxes is which filing status to use. What counts is your status as of December 31, not any other time of year. There are five filing statuses. Which one is yours? Single? That's easy. If you're single, divorced, [...]
The following article was published by the IRS. Taxpayers with dependents may qualify to claim a few different tax credits. One of these is the child tax credit. The child tax credit benefits people whose dependent meets a series of tests. If the dependent doesn't meet those qualifications, the taxpayer may be able to claim the [...]
A consumer's worst enemy is inflation, especially when prices rise but wages do not. In the United States, inflation has only been rising about 2% per year for awhile now, but that number can be deceiving. While 2% may be the average, the cost of some goods and services has risen quite a bit more. For [...]
From all of us at Cozby & Company, have a happy and safe New Year! We wish you and yours the very best in 2020. If you have any questions about your financial or tax situation, or want to make any changes in the new year, let us know. We're your trusted advisors who will work [...]
