Before you let the new year carry you away, take care of three important year-end accounting tasks. 1. Run your year-end reports on paper. There are four important types of reports to document your important business info for the year. Put them on paper to protect against changes in software systems, lost data, or other […]
Last Minute 2007 Tax Hints
(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 […]
