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Affordable Care Act
2019 – 01/14 The IRS has announced that electronic filing of Affordable Care Act (ACA) information returns (Forms 1094 and 1095) for the 2018 tax year will become available on 1/15/19, at approximately 9 a.m. Eastern time. The tax code requires information reporting on these forms by health coverage providers and applicable large employers (ALEs)….
Higher mileage rate may mean larger tax deductions for business miles in 2019
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a larger deduction for vehicle-related expense for 2019 than you can for 2018. Actual costs vs. mileage…