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IRS increases mileage rate for remainder of 2022

The Internal Revenue Service just announced that they are increasing the mileage rate for the remainder of the year starting July 1st. Please see the changes in the below table and update your records accordingly.

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Financial Statements - How They Can Help | Tax Tip of the Week | No. 62

You are working hard, very hard. In fact, you have never worked so hard in your life. Your employees are also working hard. Therefore, your business must be doing, amazingly well. Right? BUT...your bank account is nearly empty, your desk drawer is full of checks that you can't mail, and your line of credit is maxed. So, what is wrong - where is all the cash going? Often, the mystery may be explained by analyzing your financial statements.

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