Meuse Associates, LLC

05/10/2023

Tomorrow's the day!!! Don't forget to join us for an afternoon filled with fun, food, music, and some of your favorite local businesses!!
Marti Scheibley Meuse

We're so excited to see you at the Business Block Party Thursday! It’s going to be a blast, but none of it is possible without our partners! Thank you to Ammons Grave Restoration, Black Bear Lodge, Meuse Associates, LLC, Mountain Lakes Community, Simco Interiors, Inc., The Refined Table, White County Local News, and WRWH 93.9 FM!

01/12/2023

PSA!!! If you haven't already done so, I highly recommend that all taxpayers (individuals, not businesses) apply for an Identity Theft PIN (IP PIN) from the IRS. This will help your identity from being stolen from info on your tax returns. (It happens OFTEN!!!)
If you are married, I recommend both spouses request the IP PINs, along with any of your children who are required to file a tax return. You can apply using the following link. After you receive the first IP PIN, the IRS will automatically send you a new one each year. You will need to enter that number in the tax software before the tax return can be electronically filed.

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01/04/2023

Georgia has published the 2023 interest rate applicable to some refunds AND to past due taxes. For 2023, the rate will be 10.5%. This is up from the 6.25% that was paid/charged in 2022. That is a 68% increase!!
Marti Scheibley Meuse

06/10/2022

Here's a little relief from the record-high gas prices we're currently experiencing. The IRS is raising the business mileage rate effective July 1st from $0.585 per mile to $0.625 per mile. It has been 11 years since the last time the IRS made a mid-year adjustment like this, so I'm happy they understand we need this!!
If you own a small (or large) business, don't forget to keep track of your business miles so you can claim this valuable deduction!!
https://www.irs.gov/newsroom/irs-increases-mileage-rate-for-remainder-of-2022
Marti Scheibley Meuse

IR-2022-124, June 9, 2022 — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain oth...

05/06/2022

Stop by and visit our booth at the Block Party in Cleveland, GA next Thursday, May 12th from 2pm - 7pm, and pickup a fun activity book! Hosted by the White County Chamber of Commerce, you are sure to have a great time listening to music, eating from food vendors, and visiting all the fun booths. Marti Scheibley Meuse

02/24/2022

Here is some good information for teachers and administrators who have unreimbursed expenses for classroom-related purchases:
https://go.usa.gov/xtzsN
Marti Scheibley Meuse

COVID Tax Tip 2022-30, February 24, 2022 — The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from their taxes. They can only claim this deduction for expenses that were not reimbursed by their employer, a gran...

12/17/2021

The 2022 business mileage rates have been approved. It is a little higher than it was in 2021!

Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021,
18 cents per mile driven for medical, or moving purposes for qualified active-duty members of the Armed Forces, up 2 cents from the rate for 2021 and
14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2021.

12/04/2021

Good advice from the SBA:

Small businesses power America's economy. Today, there are over 32.5 million small businesses in the United States, and they need our help more than ever. Support small businesses in your community and shop small throughout the holiday season. Follow the SBA on Twitter, for the latest updates and help spread the word to shop small with the hashtag, .

12/01/2021

More info about Identity Theft from the IRS...
https://www.facebook.com/114269521992701/posts/4545515555534720/

IR-2021-237, November 30, 2021 — The Internal Revenue Service and Security Summit partners today warned taxpayers to be wary of fake charities used by scammers to get money as well as sensitive financial and personal information from victims.

12/01/2021

Identity theft affects many, many taxpayers each year. Even in my small practice, I have seen this a lot! My first recommendation is for every taxpayer (both spouses) to request an IP (Identity Protection) PIN from the IRS so the IRS knows your tax return is authentic. This service is not available until January, but it is a good idea to do it as soon as they reopen it:

Find out what an IRS-issued Identity Protection PIN is and how to get one if you are eligible.

04/08/2021

Business owners...treat your clients to a restaurant meal and get a 100% tax deduction during 2021 and 2022!
Issue Number: IR-2021-79
Inside This Issue
Treasury, IRS provide guidance on tax relief for deductions for food or beverages from restaurants
Businesses can temporarily deduct 100% beginning Jan. 1, 2021

WASHINGTON – The Treasury Department and the Internal Revenue Service today issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020. The Act added a temporary exception to the 50% limit on the amount that businesses may deduct for food or beverages. The temporary exception allows a 100% deduction for food or beverages from restaurants.

Beginning Jan. 1, 2021, through Dec. 31, 2022, businesses can claim 100% of their food or beverage expenses paid to restaurants as long as the business owner (or an employee of the business) is present when food or beverages are provided and the expense is not lavish or extravagant under the circumstances.

Where can businesses get food and beverages and claim 100%?

Under the temporary provision, restaurants include businesses that prepare and sell food or beverages to retail customers for immediate on-premises and/or off-premises consumption. However, restaurants do not include businesses that primarily sell pre-packaged goods not for immediate consumption, such as grocery stores and convenience stores.

Additionally, an employer may not treat certain employer-operated eating facilities as restaurants, even if these facilities are operated by a third party under contract with the employer.

More information for business seeking coronavirus related tax relief can be found at IRS.gov.

Marti Scheibley Meuse

03/13/2021

Did you receive unemployment benefits in 2020? Tax relief is coming, but the IRS recommends you don't do anything, yet...
The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable. For those who haven't filed yet, the IRS will provide a worksheet for paper filers and work with software industry to update current tax software so that taxpayers can determine how to report their unemployment income on their 2020 tax return. For those who received unemployment benefits last year and have already filed their 2020 tax return, the IRS emphasizes they should not file an amended return at this time, until the IRS issues additional guidance.