Electric Honda, Volvo models eligible for vehicle credit

Electric vehicles are becoming more popular, and the IRS has added several 2021 model year Honda and Volvo vehicles to the already growing list of vehicles eligible for the plug-in electric drive motor vehicle credit. A tax credit of $2,500, plus an additional amount based on battery capacity, up to $7,500 is offered for qualified […]

Year-End Planning: Prepare Forms W-2

As we near the end of 2020, it is time for employers to begin preparing Forms W-2 to send in January. All forms W-2, and W-3 for the 2020 tax year must be filed by January 31, 2021. Consequently, now is the time to begin gathering necessary information for W-2 reporting for various items such […]