IRS announces business standard mileage rate increases for 2024

The Internal Revenue Service allows qualified taxpayers to deduct vehicle mileage related to business, charity, medical or moving expenses – but there are several rules to be aware of. Recently issued Notice 2024-08 outlines the optional 2024 standard mileage rates that taxpayers will need to use when computing the deductible costs in the upcoming year. […]

Read More…

New Rules for Renewable Energy Credits

The U.S. Department of Treasury and the Internal Revenue Service recently released a notice of proposed regulations to update the investment tax credit (ITC) rules to encompass various forms of renewable energy, that haven’t been changed since year 1987. Notice 2023-25539.pdf outlines the various kinds of energy properties eligible for the Section 48 investment tax […]

Read More…

Join our email list.

We’ll deliver accounting insights and advice straight to your inbox.