Chamber supports zoning change for behaviorial health facility
The Columbia Montour Chamber of Commerce Board of Directors is supporting a change of zoning request on a parcel in Danville that would allow the development of a new behavioral health facility. The property, currently owned by the Sisters of Saints Cyril and Methodius, is zoned residential. Geisinger is asking Borough Council to change the zoning to highway commercial to allow for the development. Council is scheduled to consider the matter at a meeting scheduled for Wednesday, January 25th at 6:00 p.m.
If the zoning change is granted, Geisinger would purchase the property and partner with Acadia Healthcare to provide acute care for adult mood disorders, trauma and stress-related disorders, and older adult/geriatric and child/adolescent psychiatric units. Acadia Healthcare manages 238 facilities in the U.S. and Puerto Rico, including over 30 behavioral health centers in Pennsylvania.
“Behavioral health services are a critical need in our area, and have increased as a result of the COVID-19 pandemic,” said Fred Gaffney, Chamber President. “People in need of services are taking up emergency room beds in local hospitals, increasing the demand for human services, and preventing them from reentering the workforce, which is a critical issue for local employers of all sizes. While this facility would not be able to serve everyone in need, the situation only gets worse each day with current, limited treatment resources in our area.”
The location was chosen due to its close proximity to other Geisinger facilities. Once developed, the hospital would generate new tax revenue for the Borough and job opportunities. The Chamber Board is encouraging the Borough to not only approve the zoning change, but work with Geisinger during the land-development process to develop the facility efficiently, while balancing the safety and other interests of the surrounding community.
Member News – January 18, 2023
Renaissance Jamboree to Return to Main Street
After four years, the downtown festival will return to Main Street in Bloomsburg. For more information, visit www.downtownbloomsburg.org.
Guest Post: Geisinger: Cold and flu symptom remedies (that actually work):
Chicken noodle soup can feel like a cure-all because of its anti-inflammatory properties, but not all cold and flu remedies are as effective. See which tips to embrace and which to erase. Check out the full blog post.
Guest Post: Zimmer Insurance: The Ultimate Guide to Buying Tires
Check out this great guest post from Zimmer Insurance - did you know that 9% of crashes are tire-related?
Guest Post: The Good Insurance Group, LLC: How to Prepare for a Snowstorm
Here's some great safety tips - especially important - don't forget your furry friends during a winter storm!
Kawneer to Host Webinar: Understanding Which Architectural Grade Aluminum Window is Best & Why
Stay ahead of changing construction methods and code requirements. Partnering with The American Institute of Architects, Kawneer's next webinar will help businesses understand the types of aluminum windows, current testing standards, installation methods and performance. Register here.
PA CareerLink to Host Recruitment Event January 19
The PA CareerLink will host a recruitment event for The Merrick Group, including entry level nuclear positions at the Berwick Power Plant from 9:00am to 12:00pm. Call (570) 387-6288 for more information.
Bloomsburg Public Library and PA CareerLink to Host Introduction to Google Apps - January 20, 11am
Held at the library on January 20, at 11:00am, this program is offered to both beginners and intermediate level learners who hope to unlock the fantastic tools built into their Google accounts.
Thomas Beaver Free Library Invites You to Super Saturday - There's Something for Everyone!
On January 21, drop in from 10am to 2pm for rock painting, crafts, building and other fun activities for kids of all ages!
McKonly & Asbury to host Webinar: The What, When and Why of Quality of Earnings - January 26, 2pm.
Learn about Quality of Earnings reports, why they are beneficial to business owners or acquirers, and learn how it can be used to assist with business planning. The webinar is free, and offers one "specialized knowledge" CPE credit. Register here.
Bucknell SBDC to Host Business Startup Basics: The First Step - February 9, 9:30am
Learn about applications and licenses needed to start a business, different types of business structure (sole proprietorship, LLC, etc., financing options, presented by a local banker, types of insurance a new business will typically need, presented by a local insurance agency, and SBDC Services available as you start your business.
COLUMBIA COUNTY CHRISTIAN SCHOOL TO HOST PARENT AWARENESS NIGHT JANUARY 26
TURKEY HILL BREWING COMPANY TO HOST JOHN MORGAN KIMOCK ON THURSDAY NIGHTS IN JANUARY
LIONS GATE APARTMENTS TO HOST KEVIN HAILE
Lions Gate Apartments will host free community events. On January 26, Kevin Haile returns with piano and percussion from 6pm - 8pm.
TOWN OF BLOOMSBURG ANNOUNCES VOLUNTEER OPPORTUNITIES
STEINBACHER, GOODALL & YURCHAK TO HOST 'TRUST TAKEOVER' WEBINAR JANUARY 24
MCKONLY & ASBURY TO HOST FREE CYBERSECURITY SEMINAR
Join David Hammarberg, Partner and leader of the firm’s SOC, Cybersecurity, Forensic Examination, and Information Technology practices, as he discusses the top 10 security practices your firm should currently be doing or implementing in the next year. Security is always changing, and organizations need to assess risks and mitigate those risks quickly. What use to be seen as cutting-edge security has become essential for organizations. You know what I’m talking about if you have recently filled out a cyber insurance application. We will discuss how each organization’s goals should be to move their security footprint further and further to the next level. Each attendee should leave knowing they have some actionable steps to make their organization more secure. Register here.
NORTH SHORE RAILROAD CREATES "SHOP MANUFACTURED LOCAL" CAMPAIGN
On social media, North Shore Railroad has kicked off a new campaign, highlighting the businesses which don't have boutiques or storefronts, but which manufacture their products right here in Pennsylvania, and ship them via freight. Be part of the campaign and support your neighboring businesses by using the hashtag #SHOPMANUFACTUREDLOCAL.
IRS Issues Rules for Online Sales Reporting
Source: Lindsay Young, Principal with McKonly & Asbury
For those of you who have been on the edge of your seat about the Form 1099-K reporting changes, the official rule has been set as of December 23rd, 2022. If you enjoy selling items on Facebook, sending payments using Venmo or PayPal, or using a Third-Party Network for business transactions, stay tuned to the below information on what to expect.
In September, an article was posted to explain what Form 1099-K was and the changes that have been made to the reporting threshold for 2022 throughout the year. This article discussed the official status of those changes for 2022 taxpayers.
Prior to 2022, the monetary threshold to receive a Form 1099-K was $20,000 with 200 sales related transactions. If both of these requirements were met, then a Form 1099-K would be issued and received by the taxpayer to report as income on their tax return.
The 2021 American Rescue Act changed these requirements. The new threshold was set at $600 with no minimum number of transactions. This means that if you sell something on a platform, such as Facebook, for $600 or more, you receive a Form 1099-K that needs to be reported as income on your 2022 tax return.
There was also a bill that was introduced in Congress on March 15, 2022, to raise the threshold from $600 to $5,000. This bill was called the Cut Red Tape for Online Sales Act. For those of you who have been following, that was three different changes for the same tax form for 2022. You might be asking yourself, “Now, what is the actual rule of thumb for 2022?”
On December 23, 2022, the IRS announced a delay in the $600 minimum reporting threshold. This means that the third-party settlement organizations will not have to report the transactions on a Form 1099-K unless they follow the original threshold rules prior to the 2021 American Rescue Act.
The AICPA sent letters to the chairs and ranking members of the Senate Finance and House Ways and Means Committees expressing their concerns. They warned that the lower threshold would lead to significant confusion in the tax system over the next several months. They were also concerned that this would lead to misunderstandings for taxpayers and lead to a growth in the IRS correspondence and processing backlog.
Notice 2023-10 from the IRS announced it will regard the calendar year of 2022 as a transition period for the enforcement and changes made by the 2021 American Rescue Act. Returns filed for calendar years before 2023 are not required to report payments in settlement of third-party networks transactions unless the gross amount to be reported exceeds $20,000 and the number of transactions exceeds 200.
For years after 2022 it will enforce the $600 de minimis reporting threshold. The AICPA is continuing to call and try to convince Congress to raise the limit for consecutive years to $5,000 instead of $600 or institute a cost-of-living adjustment. Be sure to look out for information on the changes and differences for the 2023 tax year.
Below is a table to help keep these changes in order to make it easier to follow. Again, the 2022 tax year will proceed as normal with the original threshold limits of $20,000 with 200 or more transactions.
| Threshold Limit | Number of Transactions | |
| Original Threshold – 2020 | $20,000 | 200+ |
| American Rescue Plan Change – 2021 | $600 | 1+ |
| Cut Red Tape Proposed Change – 2022 | $5,000 | 200+ |
| Official Ruling as of 12.23.2022 | $20,000 | 200+ |
If you would like to talk to one of McKonly & Asbury’s professionals in our Entrepreneurial Support & Client Accounting Segment on this topic or any other business-related topic, please do not hesitate to contact us via our website, at https://www.macpas.com/contact-us.
Chamber Grieves Friend & Mentor Dr. Vincent J. Matteo
Last week, the Chamber industry in Pennsylvania lost a giant. Dr. Vincent J. Matteo, former President and CEO (retired) of the Williamsport Lycoming Chamber of Commerce, passed away on January 9, 2023 at Geisinger Medical Center in Danville. A friend and mentor to Chamber executives across the Commonwealth, Dr. Matteo served as a Chamber professional in central and northeast Pennsylvania for 37 years. In service to the profession, Dr. Matteo was especially involved with the Pennsylvania Association of Chamber Professionals, where he left an indelible mark on the lives and careers of those around him.
Columbia Montour Chamber of Commerce President/CEO Fred Gaffney is one of those individuals impacted by the legacy of Dr. Matteo. He said, "Since I began working for the Chamber in 2002, Vince had been a mentor to me and many others in the profession across the state. You always wanted to have a seat at the table with Vince. Our sincere condolences to the Matteo family and the team at the Williamsport/Lycoming Chamber of Commerce."
Dr. Matteo's obituary was published in the Williamsport Sun-Gazette, and may be found here.
U.S. Chamber Considers the State of American Business
Source: U.S. Chamber
In this year’s State of American Business keynote address, U.S. Chamber of Commerce President and CEO Suzanne P. Clark called for a commitment to an “Agenda for American Strength” that affirms America’s position as a global power for good and unleashes the innovating, problem-solving power of business to address society’s greatest challenges.
“Business is ready—we’re not waiting. We’re putting forward a plan, because that’s what business does...that’s why business works,” Clark said. “Today, the Chamber is calling for an ‘Agenda for American Strength.’ An agenda that will not only help us navigate the present moment but steer our country to the brighter, stronger future that we expect—and the next generation deserves.”
Clark warned against polarization and gridlock, and outlined how government can fulfill its role—”no more and no less”—to support business, improve citizens’ lives, and strengthen our country’s future. At that same time, she cautioned that government’s regulatory overreach harms innovation and limits economic growth.
Here are some top takeaways from Clark’s keynote address. (Click here to read the full speech transcript.). To watch the video of the address, click below:
Business Can’t Be the Only Thing that Works
Today, there are too many instances where government just isn’t working. We’re in a cycle of partisanship and political swings that mean businesses don’t have the clarity or the certainty to plan past the next political cycle.
“The polarization, the gridlock, the overreach, and the inability to act smartly and strategically for our future is making it harder for all of us to do our jobs, fulfill our roles, and move this country forward,” Clark said. “Today, business demands better from our government…We need a government that rejects gridlock and chooses governing.”
Pursuing an “Agenda for American Strength"
In her speech, Clark said the Chamber is proposing an “Agenda for American Strength” to establish policies for long-term success for the country and the business community.
“[The Agenda for American Strength] affirms America’s position as a global power for good, supporting free people, free enterprise, and free markets the world over,” Clark said. “[It is] an agenda that lifts our middle class, and renews the American Dream and modernizes it for the next generation. [It is] an agenda we can be proud of, that we can rally around, and that our country can make progress on this year; in this Congress; at this vital moment in history.”
Bolstering America’s Strength by Building
Clark noted that in 2021, after 25 years of advocacy by the Chamber and its allies, Republicans and Democrats came together and made a once-in-a-generation investment in our nation’s infrastructure.
She said that Congress must now reform the permitting process to make it feasible to unlock the potential of that historic effort.
“Right now, the process is broken, and it’s blocking progress,” Clark said. “Pass permitting reform and make it possible to build. Make it feasible for businesses to invest. Make it affordable to start and finish projects. There is bipartisan agreement. Now we need bipartisan action.”
Building a Stronger America through Its People
Clark said that we must solve the worker shortage today and build the workforce of the future, in part through sensible immigration reform. This includes strengthening our nation’s ability to manage the Southern border in a secure and orderly manner.
“Let’s start by fixing America’s outrageously broken immigration system,” Clark said. “Last year, with the strong support and input of the Chamber, there were meaningful bipartisan talks on proposals to secure the border, protect Dreamers, and increase the number of employment-based visas—crucial steps to get American businesses the talent they need, when they need it. This year, let’s get the deal done.”
Creating a Prosperous Future with American Energy Sources
Clark said that “the most important thing” Washington can do this year is sending long-term signals to energy producers to give them the confidence and certainty they need to invest here in the U.S.
“Let’s accelerate permitting for new exploration and production, quickly finalize a 5-year program for offshore leasing, and make it easier to build energy infrastructure,” Clark said. “Permitting reform is needed to build anything, including the historic investments in clean energy projects authorized by Congress.”
Enhancing America’s Role on the Global Stage
Clark said that our nation’s future depends on our continued, bold engagement in the world and that one of the best ways to enhance that engagement is to expand trade with our global partners.
“Today we have trade deals with 20 countries, and it has been 10 years since we’ve added a single new partner to that list. Meanwhile, other countries have inked 100 new trade deals without us…If you are standing still, you are falling behind,” Clark said. “When we trade and invest with other countries, we are not only supporting jobs and creating opportunities in the U.S., we are deepening strategic partnerships and advancing free enterprise both here and abroad.”
Clark added that the U.S. should resume negotiations on a free trade agreement with the United Kingdom, support Africa’s continental free trade area, and aim higher on the Indo-Pacific Economic Framework.
Boosting the Rule of Law at Home
Finally, Clark said that our nation’s future prosperity depends on our ability to protect and preserve the rule of law—right here at home.
“So often we think of the ‘rule of law’ as a challenge somewhere else,” Clark said. “But what about the ways our legal system is being hijacked by the trial lawyers to extort big payouts from business? What about the explosive growth in third-party litigation funding that is fueling lawsuit abuse? These are not features of a fair or effective civil justice system, and the Chamber will be pushing our leaders to address them this year.”
Role of Government Should Be Limited
The speech also highlighted what the government shouldn’t do—and overregulation is at the top of that list. In Washington, unprecedented regulatory overreach has accelerated over the past two years, and Clark reminded the audience that the Chamber has responded forcefully.
“It is not the role of government to direct the behavior of business, redistribute power in our economy, or undermine the competition that fuels free enterprise,” Clark said. “And that’s why the Chamber sued the FTC, the SEC, and the CFPB last year. And we won’t hesitate to do it again if that’s what’s needed to protect business interests, preserve innovation and competition, and position our economy for growth.”
Legislators Discuss Business Issues with Chamber
Members of The Columbia Montour Chamber of Commerce’s Governmental Affairs Committee recently discussed transportation infrastructure funding, solar regulations, career and technical education, and other business-related issues with the new State Representatives for Columbia and Montour counties. While Lynda Schlegel Culver has been a Representative for twelve years, the 108th District she represents now includes Montour County. Robert Leadbeter replaces David Millard as the Representative for the 109th District, which encompasses Columbia County. Alex Halper, vice president of government affairs with the Pennsylvania Chamber of Business and Industry, also participated.
Prior to the discussion of issues, Culver, Leadbeter, and Halper talked about the unusual start to the House session. While Democrats won a 102-101 majority following the November election, Republicans will hold a temporary majority until several seats are filled in special elections due to the death of one member, another being elected to Congress, and Anthony Deluca being elected Lt. Governor. Rep. Culver is seeking to replace John Gordner who resigned as State Senator in December to take a staff position in the Senate. A special election for that seat is set for January 31st. If Culver wins, a special election to fill her House seat would take place in the May primary. Rep. Mark Rozzi, a six-term Democrat from Berks County, was elected Speaker of the House after being nominated by two Republican members. After being elected, Rozzi announced that he will lead as an Independent, and not caucus with either party.
Transportation infrastructure
Following PennDOT’s failed plan to implement tolling on select interstate bridges across the state, The Chamber of Commerce is joining other business groups in calling for sustainable, long-term funding solutions for Pennsylvania’s transportation infrastructure. Rep. Culver served on a task force to explore this issue. One strategy is to reduce the amount taken from gas tax revenues to fund State Police, though she noted that they do provide services supporting transportation. Another funding idea is a five-year pilot which would allow drivers to pay an annual flat fee or based on mileage driven. Halper provided information on legislation being proposed in the House that would levy mileage-based user fees on electric and hybrid vehicles. The Senate Transportation Committee has advanced a bill that would cut the state’s gas tax and another that would dedicate gas tax revenues to road and bridge projects and fund State Police from the Motor License Fund. The increased cost of projects due to prevailing wage requirements was also discussed.
Solar regulation
Several companies are working to develop commercial solar generation installations in Columbia and Montour counties due to the access to transmission lines. The Chamber of Commerce encourages the development of zoning that allows for commercial solar generation while reasonably protecting the environment and neighboring residents and businesses. Pennsylvania does not currently have statewide guidelines for such installations, leaving local municipalities with limited resources and expertise to develop zoning language on their own. The Chamber is calling on legislators to develop base guidelines that would assist local municipalities and provide a level of consistency for companies looking to develop in multiple locations. The Representatives talked about legislation that would address the decommissioning of such installations and Leadbeter noted his discussions with the Pennsylvania Farm Bureau about protecting class one and two soils from such development.
Career and technical education funding
With workforce continuing to be a critical issue for employers of all sizes and types, funding for career and technical education, apprenticeships, and EMS personnel was also discussed. Chamber president Fred Gaffney asserts that, as local school districts are developing their own career and technical education programs, the funding model for Columbia-Montour Vo-Tech and similar schools should be changed so they are not reliant on the sending districts for funding. Jim Nemeth with Autoneum North America has worked for years to develop apprenticeship programs for area manufacturers, and highlighted the Vo-Tech school as a valuable asset in the training process that could be better utilized by students and adults looking to upskill. Tim Wagner, representing the Bloomsburg Volunteer Ambulance Association, also noted the critical need for EMS training and career development as volunteerism decreases.
The meeting concluded with a discussion about the importance of bipartisanship in the next legislative session and both legislators were provided a copy of The Chamber of Commerce’s recently-adopted code of conduct for consideration. The Pennsylvania Chamber of Business and Industry has been highlighting bi-partisan accomplishments from the last session, including the plan to reduce the state’s corporate net income tax rate from 9.99% to 4.99%. Among their priorities is ensuring the phasing down of the tax stays on track, or gets accelerated. The PA Chamber’s full 2023 legislative agenda is available at pachamber.org/legislative_agenda.
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Member News – January 11, 2023
Congratulations to Bill Lavage, Service 1st Federal Credit Union
Service 1st Federal Credit Union President/CEO Bill Lavage was recently honored with the 2022 Robert N. Pursel Award for Community Service during the Community Giving Foundation's Holiday Happenings Gala held at the Pine Barn Inn, located in Danville.
Columbia County Christian School to Host Parent Awareness Night January 26
Turkey Hill Brewing Company to Host John Morgan Kimock on Thursday Nights in January
LIONS GATE APARTMENTS TO HOST FREE EVENTS
Lions Gate Apartments will host free community events starting Friday. Check them out!
- January 11, 2023 - Board Game Night in the Club House!
- January 12, 2023 - 5:30pm - 7:30pm Kevin Haile (live music)
- January 26, 2023 - Kevin Haile returns with piano and percussion from 6pm - 8pm.
TOWN OF BLOOMSBURG ANNOUNCES VOLUNTEER OPPORTUNITIES
IMC To Host January Webinars
IMC has announced two (free) upcoming webinars, called "Training Within Industry - Foundations of Job Instruction" (January 10) and "Building an Innovative Enterprise - An Introduction to Design Thinking" (January 17).
Steinbacher, Goodall & Yurchak to Host 'Trust Takeover' Webinar January 24
McKonly & Asbury to Host Free Cybersecurity Seminar
Join David Hammarberg, Partner and leader of the firm’s SOC, Cybersecurity, Forensic Examination, and Information Technology practices, as he discusses the top 10 security practices your firm should currently be doing or implementing in the next year. Security is always changing, and organizations need to assess risks and mitigate those risks quickly. What use to be seen as cutting-edge security has become essential for organizations. You know what I’m talking about if you have recently filled out a cyber insurance application. We will discuss how each organization’s goals should be to move their security footprint further and further to the next level. Each attendee should leave knowing they have some actionable steps to make their organization more secure. Register here. `
McKonly & Asbury Announces Promotions
The regional accounting and business advisory services firm – announced promotions for fourteen of its team members! Three advance to Partner, three to Senior Manager, two to Supervisor, four to Senior Accountant, one to Executive Assistant, and one to Administrative Coordinator. Read the full release!
NEPIRC Professional Achieves Lead Auditor Designation
The Northeastern Pennsylvania Industrial Resource Center (NEPIRC) is pleased to announce that the organization’s Lean Enterprise Consultant, Brian Matyjevich, recently completed the British Standards Institution’s (BSI’s) ISO 14001:2015 Lead Auditor Training course and successfully obtained designation as an ISO 14001:2015 Lead Auditor with competencies in Environmental Management Systems, Management Systems Auditing and Leading Management Systems Audit Teams. Read more.
e-Tides is Being Shut Down February 24; Sign Up for myPATH Account
Source: PA Department of Revenue
Business taxpayers are strongly encouraged to act now and sign up for an account on myPATH. This is the new and improved online system where the Department of Revenue's customers can handle their registration, filing and payment obligations for Pennsylvania taxes. The new taxes available in the system include sales tax, employer withholding, and corporation taxes, among many others.
As part of this transition, the Department of Revenue will be retiring e-TIDES, the prior online filing system for business taxpayers, as of Feb. 24, 2023. That means taxpayers will no longer be able to use e-TIDES to file returns and make payments after this point. Instead, they will need to use myPATH to handle these tax obligations.
With many important due dates — including upcoming deadlines for monthly, quarterly, and semiannual sales tax returns — now is the time to create your myPATH account. myPATH is also the system that will be used this year for W-2/1099 reporting. Taxpayers are required to sign up for an account on myPATH to submit W-2s, 1099-Rs, 1099 MISC, 1099 NEC and REV-1667s (Annual Withholding Reconciliation Statements). The deadline to submit W-2s/1099s is Jan. 31, 2023.
The process to sign up for an account is simple and includes an option to migrate your prior account information from e-TIDES into myPATH. You can watch the Migrating e-TIDES AccessOpens In A New Window instructional video for a simple tutorial on how to do this. The Department of Revenue also has a number of other instructional videos pertaining to myPATH on its myPATH Video Tutorials page.
If you need assistance, the department encourages taxpayers to refer to several self-service options, including:
- myPATH Information page (available at revenue.pa.gov/mypathinformation)
- Online Customer Service Center (Contains answers to hundreds of common tax questions and can be used to securely submit a question)
- PATHfinder, the online chatbot, on myPATH
Customers in need of assistance may also contact the department by email at myPATH@pa.gov, or by phone at 717-425-2495, ext. 72841 (PATH1). The department has made a push to put more of its employees on the phones to assist with the transition to myPATH.
Don't delay if you need to sign up for a myPATH account. The department is hopeful to transition all of its customers to the new system as soon as possible. This move will improve customer service and be a great benefit for years to come.
2023 Will See Push for Financial Wellness
Source: My Benefit Advisor
Soaring inflationary pressures and mounting recession fears have combined with pandemic and employment concerns to create a heightened level of financial stress among employees. For employers, this represents both a dilemma and an opportunity. The employee benefit portfolio that may have worked well in the past may not adequately address these needs going forward. By investing in planning and some resources, however, business owners can both demonstrate their concern for employees and solidify if not increase worker morale and productivity at the same time. Here are a few programs employers can implement to show their support:
Emergency Savings Accounts
By creating an emergency savings account (ESA) for employees, business owners can help workers save for financial emergencies by allowing deposits of after-tax dollars from their paycheck into a savings account. Workers can then withdraw the funds as needed via a debit card or electronic transfer. An ESA eliminates the need for workers to have the discipline and time to manually save money. As a bonus, employers can offer incentives to employees, such as a matching deposit (up to specified limits).
Lifestyle Spending Accounts
Lifestyle Spending Accounts (LSA) provide a method for employers to assist their employees in paying for health, wellness expenses and even other costs that are not typically covered under a group health insurance program. Many business owners like LSAs since they can decide which expenses are reimbursable and how much each employee receives. Unlike flexible spending accounts, employers fund the LSA with money that is taxable to the employee after it is spent.
Student Loan Assistance
Companies can design programs to either make tuition payments to the loan servicer or directly to the employee. Eligible candidates can be required to have been working for the company for a specified minimum period of time or have successfully completed a degree. Typically, an employer matches annual payments made by the student and can set a lifetime cap. As an example, a company can match annual payments up to $2500 per year and/or a lifetime cap of $10,000.
Financial Guidance Resources
These programs, sponsored by an employer, can provide access to resources and tools focusing on assisting employees in their effort to gain financial literacy. The business owner may utilize a wide range of options, including a partnership with financial consultants that can provide workplace seminars, speaking with employees concerning their financial needs and educating the staff on budgeting, saving, investing and managing debt.
The Columbia Montour Chamber of Commerce offers its members access to My Benefit Advisor as a solution for employee benefits, including voluntary offerings. For more information about My Benefit Advisor, visit our website at cmcc.mybenefitadvisor.com or contact Stephen Lylo at (800) 377-3539.
IRS issues standard mileage rates for 2023; business use increases 3 cents per mile
Source: IRS.gov Newsroom
WASHINGTON — On December 29, 2022, the Internal Revenue Service issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on January 1, 2023, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 65.5 cents per mile driven for business use, up 3 cents from the midyear increase setting the rate for the second half of 2022.
- 22 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, consistent with the increased midyear rate set for the second half of 2022.
- 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2022.
These rates apply to electric and hybrid-electric automobiles, as well as gasoline and diesel-powered vehicles.
The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.
It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, unless they are members of the Armed Forces on active duty moving under orders to a permanent change of station. For more details see Moving Expenses for Members of the Armed Forces.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
Taxpayers can use the standard mileage rate but generally must opt to use it in the first year the car is available for business use. Then, in later years, they can choose either the standard mileage rate or actual expenses. Leased vehicles must use the standard mileage rate method for the entire lease period (including renewals) if the standard mileage rate is chosen.
Notice 2023-03 contains the optional 2023 standard mileage rates, as well as the maximum automobile cost used to calculate the allowance under a fixed and variable rate (FAVR) plan. In addition, the notice provides the maximum fair market value of employer-provided automobiles first made available to employees for personal use in calendar year 2023 for which employers may use the fleet-average valuation rule in or the vehicle cents-per-mile valuation rule.