by briesterer@thinkvisionary.com | Dec 9, 2021 | Newsletter
After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2022 by 2.5 cents per mile. The IRS recently announced that the cents-per-mile rate for the business...
by briesterer@thinkvisionary.com | Dec 8, 2021 | Newsletter
The minimum wage in Illinois is set to increase another dollar on Saturday, January 1, 2022. The new wage will be $12 an hour. Governor JB Pritzker signed legislation in 2019 putting the state on the path to a $15 an hour minimum wage by 2025. There have been three...
by briesterer@thinkvisionary.com | Nov 8, 2021 | Newsletter
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An Account for Health Expenses A pre-tax contribution of $2,750...
by briesterer@thinkvisionary.com | Oct 5, 2021 | Newsletter
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social Security tax....
by briesterer@thinkvisionary.com | Oct 4, 2021 | Newsletter
This October 31st, Managing Partner Ron Austin celebrates his 25th year at the firm. We here at MMA are grateful for everything that he does and look forward to working with him for many years to...
