#IRSUpdates Archives | Hutchinson and Bloodgood LLP

Tax Planning

Tax filing FAQs for individuals

Laptop, tax, note, coffee, clock, paperwork, desk, tax, season,

January 23, 2026

The IRS is opening the filing season for 2025 individual income tax returns on January 26. This is about the same time as when the agency began accepting and processing 2024 tax year returns last year, despite IRS staffing having been significantly reduced since then. Here are answers to some FAQs about filing. When is […]

#IRSUpdates, #TaxFiling, #TaxSeason2026

Find Out More

Tax Planning

Many business tax limits have increased in 2025

A, group, of, business, professionals, discusses, the, future, with, "2025," displayed, prominently. A, man, on, a, ladder, uses, a, telescope, symbolizing, foresight, and, planning. The, scene, represents, strategy, business, forecasting, and, preparation, for, the, year, ahead.

February 4, 2025

H&B

0

A variety of tax-related limits that affect businesses are indexed annually based on inflation. Many have increased for 2025, but with inflation cooling, the increases aren’t as great as they have been in the last few years. Here are some amounts that may affect you and your business. 2025 deductions as compared with 2024 Section […]

#BusinessTaxChanges, #IRSUpdates, #TaxUpdates2025

Find Out More

Tax Planning

The standard business mileage rate increased in 2025

January 20, 2025

H&B

0

The nationwide price of gas is slightly higher than it was a year ago and the 2025 optional standard mileage rate used to calculate the deductible cost of operating an automobile for business has also gone up. The IRS recently announced that the 2025 cents-per-mile rate for the business use of a car, van, pickup […]

#BusinessExpenses, #IRSUpdates, #MileageRates, #TaxPlanning

Find Out More