Renner Individual News; November 21, 2022 It’s never too early to start planning and preparing for the next tax season. The deadline to file your 2022 return may still be months away, but there’s plenty you can do to get out in front. “November and December are the best months to start thinking about your … Continued
Renner Individual News; October 3, 2022 When something sounds too good to be true … well, you know the rest. Sometimes, though, if it sounds like a good thing, it actually is. Sometimes, there really is no downside. This can be said for 529 plans — tax-advantaged savings plans designed to encourage saving for future … Continued
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 Business News; July 11, 2022 If the statistics tell us anything about fraud — and they tell a lot — it’s that businesses of all sizes, and in all industries, fall victim to fraud. And, typically, the perpetrator turns out to be a trusted employee. That’s a surprise that hits the victim company almost … Continued
Renner Individual News; July 5, 2022 There’s nothing easy about losing a loved one. Filing his or her final tax return doesn’t have to be difficult, though. “Gather what (documents) you have and then call us,” said John J. Renner, II, CPA and founder of Renner and Company. “It’s difficult because it’s mysterious. It’s the … Continued
Renner Business News; June 27, 2022 As a result of the COVID-19 pandemic, several new programs were created to help businesses survive and continue to pay employees. One of these programs was the Employee Retention Tax Credit (ERTC), which was created with the CARES Act of 2020. ERTC provides a refundable credit on certain employment … Continued