Extra, extra! This just in!
Beginning on Jan. 1, 2015, the standard mileage rate will be 57.5 cents per mile for business miles driven, up from 56 cents in 2014.
Category Archives: IRS
House Passes $42 Billion Plan to Revive U.S. Tax Breaks for 2014
The House finally passed the 2014 extenders, and we’ll see what happens in the Senate.
House Passes $42 Billion Plan to Revive U.S. Tax Breaks for 2014.
(I don’t think this should be a Democrat or Republican issue — it’s obvious to all of us in taxation that if you only ever extend tax breaks retroactively, they are extremely ineffective at generating the additional economic benefit for which they were originally intended. Plus, it makes tax planning a major and unnecessary headache!)
Year-End Tax Tips for Businesses
Nice little article in Accounting Today on year-end tax tips helpful for businesses (ignore the annoying comments section).
In 2015, Various Tax Benefits Increase Due to Inflation Adjustments
A few days ago, the IRS released info on which tax benefits will increase next year due to inflation (guessing the silly old limit on deductible gifts is still going strong/ would love to see that one indexed some day); see the list here:
In 2015, Various Tax Benefits Increase Due to Inflation Adjustments.