Renner Individual News; September 7, 2022 As we drive into the future, it seems inevitable that we’ll be doing so in electric vehicles. Electric vehicles represent less than 1% of vehicles in the U.S. today, but the numbers continue to rise exponentially. At the end of 2021, more than 10 million vehicles worldwide were battery … Continued

Renner Individual News; August 22, 2022 You may or may not take a vacation this summer. Regardless, if you have children, you could still get a break — a tax break, that is. If you send your children to a day camp, the money you pay may qualify for a tax credit when you file … Continued

Renner Individual News; July 29, 2022 According to the Internal Revenue Service (IRS), an estimated 19 million taxpayers requested an extension to file their 2021 tax return. However, just because you have more time doesn’t mean you should use all of it. There are a number of good reasons to file your return as soon … Continued

Renner Individual News; July 21, 2022 The Virginia General Assembly enacted legislation as of July 1, 2022, that will result in tax savings for many Virginia taxpayers for 2021 and beyond. Here is a summary of the major updates: The Virginia standard deduction for 2022 increases from $4,500 to $8,000 for single filers and from … Continued

Renner Individual News; July 13, 2022 If you’re like many individual taxpayers, you probably find quarterly estimated tax payments a fundamental challenge.  You owe tax on your income as you earn it, throughout the year. However, you don’t know for sure how much tax you owe until you complete your return, after the year is … Continued

 Renner Individual News; December 15, 2021 Virtual currency transactions are taxable by law just like transactions in any other property. The IRS is aware that some taxpayers with virtual currency transactions may have incorrectly reported or failed to report income and pay the related tax. The IRS is actively addressing potential non-compliance in this area. … Continued