(1) Use your bank credit card to pay year end deductible expenses; for transactions with a bank credit card, you take the deductionin the year that the item was charged, even if you pay the bill next year.(2) Remember the rules for substantiating charitable contributionsas you do your year-end giving.Starting this year, donors are required […]
IRS Announces 2008 Standard Mileage Rates
The IRS mileage rate is going up 2¢, to 50½¢ for 2008. Parking fees and tolls are deductible also, but fuel and repair costs are notas these items are reflected in the standard mileage rate.
Want to Get FREE Tax Tips?
The IRS will send you free tax tips. All you need to do is list your email address with them on the IRS website. Since these tips come straight from the IRS, you know there will be nothing even remotely questionable about them. And you can truly “unsubscribe” — they will take you off the […]
Small Biz Startup TV Ep. 3 – Borrowing and Recordkeeping
Networking with many new media folks, I realized that lots of people are starting businesses. Since helping people start a business is the full time job of my co-author “OkieJ” Jeanne Cole, we decided to present a live internet TV miniseries on small business startup issues. Problem with the player? Watch it at Operator 11. […]
