Cheryl L. Borum, CPA, PA
This is the page for Cheryl L. Borum, CPA, PA.
SCDOR is issuing rebates and expects them to be received by the end of the year. This is for individual tax filing only. The rebate is capped at $800. This means that if your 2021 SC income tax after credits was $800 or more, your refund will be $800. If your 2021 SC income tax after credits was less than $800, your refund will be the smaller amount of tax liability minus credits.
The amount is found on your 2021 SC1040, page 3, line 15.
Business mileage rate starting 7/1/2022 is .625.
Businesses get 100% meals tax deduction for 2021 and 2022.
If you do not itemize, there is still a charity deduction. Up to 300 deduction for cash/check to charity for singles & up to 600 for married filing joint. Household items to Goodwill not included in this deduction.
Business standard mileage rate for 2022 is 0.585 per mile.
07/10/2021
07/10/2021
Standard mileage rate in 2021 for business driving drops to 0.56.
Businesses will get 100% deduction for meals in 2021 and 2022 to encourage restaurant dining.
Good news: Married filing joint can claim 600.00 as a deduction for cash paid to charity if not itemizing in 2021.
Individuals can deduct $300 cash to charity even if they do not itemize. Contribution by 12/31/2020 only and must be in form of cash. Non-cash, stocks, and trusts do not count. Must be to an unrelated 501c3.
11/14/2020
New for 2020 only:
Individuals may deduct qualified contributions of up to 100 percent of their adjusted gross income. To qualify, the contribution must be:
a cash contribution;
made to a qualifying organization;
made during the calendar year 2020.
Click here to claim your Sponsored Listing.
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Address
862 South Pleasantburg Drive Ste E
Greenville, SC
29607
Opening Hours
| Monday | 9am - 3pm |
| Tuesday | 9am - 3pm |
| Wednesday | 9am - 3pm |
| Thursday | 9am - 3pm |
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