My Accounting Now Blog

At My Accounting Now, we believe in empowering business owners with the knowledge and tools they need to thrive. Our blog serves as a resource hub, offering insights into critical aspects of business finance, from effective bookkeeping practices to strategic tax planning. By staying informed and proactive, business owners can avoid common pitfalls and leverage financial strategies to fuel their growth and success.

Home energy credits

Home energy credits

2024-06-18

Through December 31, 2022, the energy efficient home improvement credit is a $500 lifetime credit. As amended by the Inflation Reduction Act (IRA), the energy efficient home improvement credit is increased for years after 2022, with an annual credit of generally up to $1,200.

Alternative fuel credits

Alternative fuel credits

2024-06-17

If you install qualified vehicle refueling and recharging property in your home or business, you may be eligible for the Alternative Fuel Vehicle Refueling Property Tax Credit. The credit was extended and modified by the Inflation Reduction Act (IRA). The credit allowed is based on the placed-in-service date for the qualifying property. The credit is...

New, Previously Owned and Qualified Commercial Clean Vehicles Credit

New, Previously Owned and Qualified Commercial Clean Vehicles Credit

2024-06-17

Generally, when talking about federal electric vehicle tax credits in the United States, most people refer to the New Electric Vehicle Credit. But that’s not the only federal tax credit for buying an electric vehicle. Starting in 2023, there are two new electric vehicle tax credits: The Used Clean Vehicle Credit and the Clean Vehicle...

5 tips to reach your financial planning goals

5 tips to reach your financial planning goals

2024-04-01

Correctly managing the finances in a company is essential to meet the objectives set and to optimize the resources that in the long term will allow them to achieve their growth. Currently small and medium size business have as their main challenge to reach and maintain the break-even point. Financial planning is a tool that allows them to meet these objectives.