Valid Solutions Consulting LLC

10/12/2022

If you haven't already filed for 2021, here is your reminder

07/30/2022

https://dentalhealingarts.com/about-us/meridian-tooth-chart/

03/17/2022

Employer Business Meals for Employees for 2021 and 2022

02/23/2022

2022 IRS Mileage Rates




As it does every year, the Internal Revenue Service recently announced the inflation-adjusted 2022 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (or a van, pickup or panel truck) are

58.5 cents per mile for business miles driven. This is up from 56.0 cents in 2021;
18 cents per mile driven for medical care or by an active member of the armed forces for moving purposes. This is up from 16 cents in 2021
14 cents per mile driven in service of charitable organizations.

Employer Reimbursement – When employers reimburse employees for business-related car expenses using the standard mileage allowance method for each substantiated employment-connected business mile, the reimbursement is tax-free if the employee substantiates to the employer the time, place, mileage and purpose of employment-connected business travel.

The Tax Cuts and Jobs Act eliminated employee business expenses as an itemized deduction, effective for 2018 through 2025. Therefore, employees may not take a deduction on their federal returns for those years for unreimbursed employment-related use of their autos, light trucks or vans. However, those who are self-employed are eligible to claim expenses for their personal vehicles used in their businesses.

In order to take advantage of mileage deductions driven in the service of charitable organizations OR for medical care, you must be able to itemize instead of taking the standard deduction. Keep that in mind.

In order to take a legitimate business related mileage deduction on your tax return, you must keep an "as you go" mileage log showing the time, place, mileage and purpose of the trip. This requirement is non-negotiable with the IRS. There are many free apps that you can take advantage of to keep this mileage log requirement. Get in the habit of using one!

12/24/2021

05/09/2021

Have a Great Day!

05/05/2021

At Uphold, we make it easy to buy and sell any major digital currency. You can invest, transfer or send/receive over 40 cryptocurrencies, 23 traditional currencies, 4 precious metals and 50 American equities.

01/28/2021

Here is my Zoom training video from last night

Business owner training = brief overview of basic financial statements

01/28/2021

Topic: Victoria DeBonis' Personal Meeting Room
Date: Jan 27, 2021 07:31 PM Eastern Time (US and Canada)

Meeting Recording:
https://us02web.zoom.us/rec/share/NU-bYo68cW90_URhlLjJ88HP3UJJUKUNCTDr8R3Y7yr4pd33QcnOjDsFbzVlTTDC.xY7akxZqQHXl1FL2

Access Passcode: +KKk3