Working as a tax preparer for over 20 years, I found the following article from Ron Paul spot on. I would like to share it with my readers:

Trump’s Tax Returns Show Evil of the Income Tax

Committee was to make public several years of Donald Trump’s tax returns, which the Committee obtained after a prolonged legal battle. The tax returns confirmed that, despite being one of the richest people in America, Donald Trump paid very little in federal income tax. In fact, in at least one year he paid under a thousand dollars.

Minimum wages are increasing in 27 states

There are some new state laws that will have an effect for businesses going into 2023. The one that will probably have the most effect is that twenty-seven states will see minimum wage increases in 2023 with the majority of the states implementing them starting Jan. 1.

This new salary floor comes as a result of calls from workers' rights groups, elected officials and others to increase wages for low-income workers. The increases in minimum wage ranges from $9.95 to 15.74 among the various states.

It's the beginning of new year (2023) and of course, Congress has passed some new taxes for all the corporations in the country. While this will not affect most small businesses, I will briefly discuss them here for your consideration.

The first is contained in  Notice 2023-2, which provides interim guidance regarding the application of the corporate stock repurchase excise tax until the issuance of proposed regulations.

The Internal Revenue Service has issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on January 1, 2023, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

The Consolidated Appropriations Act (CAA), 2023 that just passed Congress includes the retirement package, SECURE 2.0. Here are the major changes that can affect you and/or your small business:

The Saver's Credit is becoming the Saver's Match for tax years beginning after December 31, 2026

One of the biggest headaches that those of us who design and maintain websites have are spammers. Those nefarious people who try to invade your website and use your servers to send out their junk to the masses. Since I maintain my own virtual private server (VPS), one of the biggest problems was spending the time to go in and delete the bogus accounts that were created or checking the logs to see if someone had found a way to insert malicious code into the site.

One of the most common questions I get from people opening a business for the first time is, 'How do I deduct all of the many expenses incurred before the business actually opens its doors?' Most of these can be handled as either start-up expenses or organizational expenses. You can think of organization expenses as creating the paperwork part of a business and start-up expenses as setting up the physical structure of a business.

I sometimes run into clients who have to take large distributions from their traditional IRAs and it bumps them into higher tax brackets even though they don't really need the money to live on. Here is one solution to avoid some of that taxation and do some good for the world.

The IRS charges interest on a variety of non-compliance issues and adjust them quarterly based on how the economy is doing. These apply to both personal and business returns.

In their effort to control more of our lives, the Biden administration has chosen to change the rules on determining if people are considered employees or self-employed - and it could cost businesses massive amounts of money that have been employing people as independent contractors.

In addition to the more than 4,000 people recently hired to fill critical customer service representative positions, the Internal Revenue Service is now seeking over 700 new employees to help taxpayers at Taxpayer Assistance Centers across the country.