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IRS 2022 Limits

Each year, the IRS adjusts tax rates, standard deduction amounts, and other limits to account for tax law updates and cost-of-living adjustments. Currently for 2022, there are seven tax brackets: 10%, 12%, 24%, 32%, 35%, and 37%. Your filing status (example: single, married filing jointly, head of household) will be the determining factor of where your taxable income will fall within the tax brackets. Keep in mind that should the Build Back Better Act pass in its current form, tax brackets will Read more [...]
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Protecting Yourself from Supply Chain Shortages

The past few years have seen major kinks in the supply chain due to a number of reasons: aberrant buyer behavior, source material scarcity, government shutdowns, and worker shortages, to name a few. What can a business owner do to protect their businesses from shortages and therefore, revenue loss? Let’s take a look at a few ideas. Source New Suppliers Being dependent on only one supplier for a key item is risky. Increase your options by finding new suppliers to use as backups or alternates Read more [...]