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Social Security Benefits and Wage Cap to Increase in 2023

On October 13, 2022, the Social Security Administration announced a couple of important adjustments. Both social security benefits and the […]

Posted By Tonneson
In Tonneson Shorts
Grid List
November 22, 2022Posted By Tonneson
Business Tax, Individual Tax

When Can I Expect My Tax Refund?

There were—and still are—plenty of horror stories to go around in 2022 about delayed tax refunds. As of November 4, […]

November 18, 2022Posted By Tonneson
IRS Updates

Applicable Federal Interest Rates for December 2022

The IRS recently published its Applicable Federal Rates (AFRs) for December 2022. What is the Applicable Federal Rate (AFR)? The […]

November 16, 2022Posted By Tonneson
Business Tax, Individual Tax

What is a 1099-K? How New IRS Reporting Rules May Affect Gig Workers and Merchants

Starting in early 2023, millions of people will begin receiving 1099-K forms, many of them for the first time. Most […]

November 10, 2022Posted By Tonneson
Business Tax, Individual Tax

Defer Taxes and Save Money with a 1031 Exchange

Wouldn’t it be great if there was a way to sell your current real estate investments and defer capital gains […]

November 4, 2022Posted By Tonneson
Individual Tax

What You Need to Know about Massachusetts’s Tax Refund Program

If you live in Massachusetts, you’ve probably heard the good news: starting November 1, an estimated 3 million Massachusetts taxpayers […]

November 2, 2022Posted By Tonneson
Business Tax, Individual Tax

The IRS Adjusts for Inflation—Will Your Taxes Be Affected?

With inflation at its highest rates in decades, the markets in turmoil, and a recession looming, we’re overdue for some […]

October 31, 2022Posted By Tonneson
Business Tax, Individual Tax

Amidst Rising Inflation, IRS Boosts 401(k) and IRA Contribution Limits by Record Amounts

On October 21, 2022, the IRS announced a record increase in retirement plan contribution limits for 2023. The new limits […]

October 26, 2022Posted By Tonneson
Business Tax, Individual Tax

Senate Finance Republicans Demand Details about IRS’s New Funding

In a recent blog post, we discussed the IRS’s recent windfall of $80 billion via the Inflation Reduction Act to […]

October 24, 2022Posted By Tonneson
Business, Business Tax

The IRS Issues New Procedures Affecting S Corporations

On October 10, 2022, the IRS issued a new revenue procedure allowing S corporations and their shareholders to resolve certain […]

October 19, 2022Posted By Tonneson
Individual Tax

“The Millionaire Tax”— Ballot Question #1 and What it Means for Massachusetts Millionaires

On November 8, Massachusetts residents will be asked to vote on Question 1. Colloquially known as the “Millionaire Tax” or […]

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