Tyler

About Tyler Rutherford

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So far Tyler Rutherford has created 34 blog entries.

Beacon Tax’s Profits Are Making an Eternal Impact

“Lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also.” Matthew 6:20-21    One of our favorite features of Beacon Tax Services is the opportunity and privilege to take 100% of our [...]

The Social Security Administration Announces 2022 COLA

5.9% is the biggest COLA increase in decades.   On October 13, 2021, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 5.9 percent cost-of-living adjustment (COLA) for 2022, the largest increase in four decades. This adjustment will begin with benefits payable to more than 64 million Social Security beneficiaries [...]

Proposed Tax Changes in Congress

If passed, the $3.5 trillion Build Back Better Act would alter some federal tax rates.   Investors are watching the Build Back Better Act. This $3.5 trillion bill, refined through months-long negotiations, may be approaching a final vote in the House of Representatives. If the BBA becomes law, it would finance large-scale infrastructure projects, authorize a [...]

2021-10-28T12:18:52+00:00Categories: IRS|Tags: , , , , , , |

Are Capital Gains Taxes Changing?

Reach out if you have any concerns about capital gains taxes.   There are a lot of questions about President Biden’s Build Back Better plan and potential tax law changes, including an adjustment to capital gains taxes. One of the proposals Congress is considering sets the top rate for taxing capital gains at 25%, up [...]

Gridlock in the Supply Chain

The port crisis continues.   While the world has begun to recover from the economic disruption of the COVID-19 pandemic, the delayed reaction has been felt in the supply chain. Industrial shutdowns around the world slowed production to a relative crawl, leaving many businesses struggling to meet consumer demands, both during lockdowns and since.1 Challenges [...]

2021-10-28T12:15:40+00:00Categories: Uncategorized|Tags: , , , , |

A 6.1% Bump in Social Security?

COLA and Social Security.   The news keeps getting better for Social Security recipients. It’s now projected that benefits will increase 6.1% in 2022, up from the 4.7% forecast just two months ago. That would be the most significant increase since 1983.1,2 It’s all about inflation. Social Security cost of living adjustments (COLA) are based [...]

The Expanded Child Tax Credit

The federal government has upgraded its Child Tax Credit. Thanks to the American Rescue Plan Act, there are four notable differences in effect for the 2021 tax year only.1   First, the Internal Revenue Service is paying many families who qualify for the CTC 50% of their credit before 2021 ends. Second, the credit has grown [...]

Watch Out for “Tax Processing Unit” Scam

Article written by: Revenue Communications Department   ​The Department of Revenue recently received information that scam artists continue to target Pennsylvania taxpayers with a scam involving letters from the "Tax Processing Unit." The letters make threats, including the seizure of taxpayers' property unless they immediately pay back taxes. This recurring scam has been reported to the [...]

2021-06-14T13:38:57+00:00Categories: Uncategorized|Tags: , , , |

The IRS is Experiencing Delays. Here’s How to Track Your Refund.

The IRS is experiencing massive delays in processing the 2020 tax returns for a variety of reasons. Please note that once we transmit AND receive the acknowledgement on a tax return, our office no longer has any control over how long the processing will take or when a refund will be issued.   There are [...]

2021-06-07T16:08:03+00:00Categories: IRS|Tags: , , , , , |
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