Senney Says by Jeff Senney

The Internal Revenue Service today issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (also vans,...

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The Biden tax plan is intended to raise taxes to pay for the significant expenditures the Administration is pushing. These changes include: Increase in Income Tax Rate for High Earners: The Administration wants to increase the top marginal individual income tax rate from 37% to 39.6%...

Now is an especially tough time to find and retain quality employees. The competition for the best talent is fierce. Many employers are offering signing bonuses, higher salaries, better health insurance programs, richer retirement plans and other fringe benefits to attract employees. Another benefit employers...

The penalty for failure to file a partnership return will not be imposed if the partnership can show reasonable cause for failure to file a complete or timely return. Smaller partnerships (those with ten or fewer partners and who meet the other qualifications listed below)...

As part of PS&E’s ongoing effort to grow and enhance our community, we are pleased to share Jeff Senney has been appointed to the Park District Board by the Court of Common Pleas. Jeff will serve a three-year term starting in June. He will actively work...

The taxing authorities have delayed the due date for individual tax returns until May 17, 2021. But in many cases, this one-month extension did not give taxpayers or CPAs sufficient time to prepare the required returns. At this point, many taxpayers will need to file...