On December 29, 2022, President Biden signed the Consolidated Appropriations Act, 2023 into law. It reached the President's desk upon passage in the House by a vote of 225 to 201 on December 23. This followed passage in the Senate on December 22 by a vote of 68 to 29. The heavily negotiated omnibus legislative package includes all appropriations for the federal 2023 fiscal year. The Act does not include any major tax provisions or tax extenders. However, the omnibus bill does include the long-awaited SECURE 2.0 Act of 2022.

I’m sure many of you have heard that the IRS has received $80 billion in funding. There’s been a lot of talk about what that means, with some saying that there will be over 80,000 new agents with guns and that there’s going to be a lot of audits. This informative article from The Wall Street Journal lays out what exactly is going to change and provides helpful context. We just hope it means they’ll finally start answering our phone calls without having to hold for 3 hours.

Welcome to the tax jungle, independent contractors! In this week’s tax tip we offer you a survival guide against the most dangerous of predators, the IRS. This article, provided by Forbes Advisor, instructs how to calculate the federal taxes you may be dealing with, including: self employment tax and income tax, and all the essentials you need to survive next tax season.

Sometimes, you just have to let it all out. But should you really vent about your arduous commute, insufferable boss and disappointing cost-of-living adjustment—at work?

This week’s article takes a look at a decision that could make or break your business—and your marriage. Going into business with your spouse comes with many unique advantages and disadvantages, and it can be hard to navigate between the two. Since you spend a lot of time together, you will have plenty of time to think over and discuss business decisions, but that work can get in the way of your relationship. This article goes through it all and offers expert opinion on how to make the most of working with your spouse.

This week’s article provides an interesting glimpse into the economics of gift cards and how companies make millions of dollars off of people never using them and spending extra over a gift card’s amount. It’s a worthwhile read for those interested in economics and might even lead you to consider whether gift cards could be a good fit for your business, if you have one.