With more than two decades of experience, we work with individuals and companies of all sizes and industries.
We are dedicated to handling all tax issues swiftly and accurately so you can focus on what matters to your business. Holland Tax & Business Service provides specialized services to small business entrepreneurs. HTBS has been providing high-quality services since we opened our doors in 2005. Every day, we strive to provide you, the small business owner, with the best business experience in the met
02/11/2025
If you use your car for business, charity, medical, or moving purposes, you may be able to take a deduction based on the mileage used for that purpose.
2024 mileage rates
The standard mileage rates for 2024 are:
Self-employed and business: 67 cents/mile
Charities: 14 cents/mile
Medical: 21 cents/mile *
Moving (military only): 21 cents/mile
* rules apply when taking this mileage.
02/11/2025
2024 Contribution Limits: The contribution limits are $7,000 for individuals under 50 and $8,000 for those 50 and older.
2024 Income Limits: There are income eligibility limits for contributing to a Roth IRA. Single filers: modified adjusted gross income (MAGI) of less than $146,000.
Married couples filing jointly with a MAGI less than $230,000 can contribute the full amount.
Reminder: Due Today
02/10/2025
Reminder: Due Today
Reminder: Due Today
The Federal Unemployment Tax Act (FUTA), with state unemployment systems, provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both a Federal and a state unemployment tax.
02/09/2025
Super Bowl LIX
The Super Bowl and Taxes
The Super Bowl is one of the biggest sporting events in the United States, drawing millions of viewers and generating significant economic activity. However, the event also intersects with various aspects of taxation, which can affect individuals, businesses, and local governments.
Taxation of Athletes and Teams
Professional athletes, including those participating in the Super Bowl, are subject to the so-called "jock tax." This tax is levied by states and cities on income earned by non-resident athletes competing within their jurisdictions. The tax is calculated based on the number of games played in a particular location. For Super Bowl participants, this means paying taxes not only in their home state but also in the state where the game is held.
Tax Benefits for Host Cities
Cities vying to host the Super Bowl often offer tax incentives to the NFL and businesses involved in the event. These incentives may include tax breaks on ticket sales, concessions, or temporary structures built for the event. The intention is to attract the Super Bowl by reducing the financial burden on organizers, with the expectation that the economic boost will outweigh the tax concessions.
Tax Implications for Viewers and Participants
1. Gambling Winnings
2. Contests and Prizes
3. Charitable Donations
02/09/2025
Reminder:
02/08/2025
IRS Due Dates
02/08/2025
IRS Due Dates
02/07/2025
Under the federal Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before mid-February. Where's My Refund? should show an updated status by February 22 for most early EITC/ACTC filers. The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards by March 3 if they chose direct deposit and there are no other issues with their tax return.
02/06/2025
IRS Due Dates
| Monday | 8am - 8pm |
| Tuesday | 8am - 8pm |
| Wednesday | 8am - 8pm |
| Thursday | 9am - 5pm |
| Friday | 9am - 6pm |