Due to cost-of-living adjustments announced by the IRS, various dollar limits on business tax credits, deductions, and threshold amounts are going up in 2023. Examples: the small employer health insurance credit’s wage limit will be $30,700 (up from $28,700 in 2022); the threshold for the qualified business income (QBI) deduction will be $364,200 for joint filers/$182,100 for other filers (up from $340,100 and $170,050, respectively); the Sec. 179 deduction (first-year expensing) will be $1,160,000 (up from $1,080,000 in 2022). #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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It's important to take care of ourselves and take steps to nourish ourselves--body, mind and soul. We may have to do this in different and creative ways now that many of us are staying at home. It's still important that we take time for ourselves. #selfcare #Health