Energy-Efficient Home Improvements
You can take a tax credit equal to 30% of qualified expenses. The maximum credit each year for qualified energy efficiency improvements, residential energy property expenses and home energy audits
GREAT NEWS – Business Income Deduction Expanded to Include Farm Income (HB 202 & SB 138)
Currently businesses are allowed to subtract from their Federal Adjusted Gross Income a percentage of their business income when determining their Missouri Adjusted Gross Income for Missouri individual income tax
Work Opportunity Tax Credit (WOTC)
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers until December 31, 2025 for hiring and employing individuals from certain targeted groups who have faced significant barriers
IRS Extends Drought Relief to Farmers and Ranchers in 49 States, 2 Territories
The Internal Revenue Service recently posted a new release which reminded eligible farmers and ranchers forced to sell livestock due to drought may have an extended period of time in
Tax Tip 2023-112: Avoiding identity theft scammers posing as the IRS
https://www.irs.gov/newsroom/avoiding-identity-theft-scammers-posing-as-the-irs
Reminder to employers and employees: Educational assistance programs can be used to help pay workers’ student loans
The Internal Revenue Service today reminded employers and employees that under federal law, employers who have educational assistance programs can use them to help pay student loan obligations for their
Employee Retention Credit IRS Restrictions
The Employee Retention Credit (ERC) has been a highly discussed government credit over the last couple of years and has been the source of many solicitations offering assistance in acquiring
Employment Tax Considerations When Hiring Children
Hiring your children for work in your sole proprietorship are tax deductible if handled correctly, here are the rules on employment taxes. Generally, payments made for services rendered to a
Home Energy Tax Credits
Please click the link to view the Home Energy Tax Credit information publication. https://www.irs.gov/pub/irs-pdf/p5797.pdf
Work Opportunity Credit
The Work Opportunity Tax Credit, or WOTC, is a general business credit that is available for wages paid to certain individuals who begin work on or before December 31, 2025.
MONTHLY BULLETINS
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749 Driskill Drive
Richmond, MO 64085
Phone: 816-776-3584
KC Phone: 816-470-3584
Fax: 816-470-7100

WESTBROOK & CO., P.C.
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306 N. Mason
Carrollton, MO 64633
Phone: 660-542-0102
Fax: 660-542-3959