Joyce A. Herr, CPA, LLC is a full service accounting and tax firm specializing in business consulting, accounting, bookkeeping, tax and payroll services for businesses of any size, tribal councils, native corporations, small city governments and not-for-profits. I can save you time, money and ensure your organization has accurate records in order for you to manage efficiently.
I also offer a variety of tax services including planning and preparation of returns for individuals, corporations, partnerships, fiduciaries and tax-exempt entities.
My website details a full range of services, contact information and a company profile, so click around and stay for a while! But don't hesitate to e-mail me to schedule an appointment; your initial consultation is free.
The 2024 PERMANENT FUND DIVIDEND is $1,702, which includes a $298.17 energy relief check. The IRS has not announced if the energy relief portion will be non-taxable. Children can be included on the parents' return if they only have non W-2 income (the permanent fund, interest on savings accounts and dividends/capital gains on investment accounts, etc.). If they have W-2 wages, they have to file their own return but parents can still claim them as dependents. For help with determining the best way to report their income, e-mail my office.
Alaska's minimum wage increases to $11.73 for 2024. It will be adjusted every year for inflation with the new rate being effective on January 1 of each year.
STANDARD MILEAGE RATES FOR 2024:
67.0 cents per mile for business miles driven
21 cents per mile for medical or moving miles driven
14 cents per mile driven for charitable purposes
STANDARD MILEAGE RATES FOR 2023:
65.5 cents per mile for business miles driven
22 cents per mile for medical or moving miles driven
14 cents per mile driven for charitable purposes
Do you use Venmo, PayPal or other money transfer apps?
Beginning in 2023, if you receive more than $600 per year from any entity, it's going to be reported to the IRS on Form 1099-K. Keep track of these deposits and note what they were for. If you can't explain WHY you received these funds to the IRS, they will be considered taxable income. The change was originally scheduled for 2022 but has been postponed for a year to allow the payment processors time to update their systems.
Be sure to come back often and see what's new - I'll be updating this site on a regular basis as new tax laws become effective.
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