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Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 56 cents per mile driven for business use, down 1.5 cents from the rate for 2020, 16 cents per mile driven for medical, or moving purposes for...

2017 Year End Tax Savings Strategies Happy Holidays! As we are now in the last week of 2017, I thought it best to point out a few tax-saving strategies that can still be implemented before the 2017 tax year ends. I know that with all of the excitement of the holidays...

The Internal Revenue Service today issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2019, the standard mileage rates for the use...

The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use...

  Self-employed business owners have one of the biggest targets on their backs from the IRS.  They are constantly under scrutiny for the deductions that are taken since there are many that attempt to take advantage of the system.  It is for this reason that it...

When you file a joint income tax return, the law makes both you and your spouse responsible for the entire tax liability. This applies not only to the tax liability you show on the return but also to any additional tax liability the IRS determines to be due, even if...

The Internal Revenue Service today issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2018, the standard mileage rates for the use...

Did you make a donation to a charity this year? If so, you may be able to take a deduction for it on your 2010 tax return. Here are the top 10 things the IRS wants every taxpayer to know before deducting charitable donations. Charitable contributions must be made to...

You may not be thinking about your tax return right now, but summer is a great time to start planning for next year and to make sure your records are organized.  Maintaining good records now can make filing your return a lot easier and it will help you remember...

Every year, the Internal Revenue Service puts out a list of the worst tax scams and schemes that are pulled by either dishonest taxpayers, or in some cases, tax preparers.  Below are some excerpts from an article they put out which highlights the areas that are...