Here’s a link to IRS rules concerning employment tax issues and items. The IRS site is actually a treasure trove of useful information all broken down into fairly small blocks. Check it out.
From the IRS — Car and Truck Expense Deduction Reminders
If you use a car or truck in your business in the US, the IRS has rules (of course). Here’s some highlights: Deductible Car and Truck Expenses What qualifies? Traveling from one work location to another within the taxpayer’s tax home area. (Generally, the tax home is the entire city or general area where the […]
IRS Announces 2007 Standard Mileage Rates
IR-2006-168, Nov. 1, 2006 WASHINGTON — The Internal Revenue Service today issued the 2007 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, 2007, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) […]
Using EFTPS – Two Tips to Avoid Mistakes
More advice from the IRS on EFTPS for those of you with employees– While using EFTPS is simple, secure and convenient, there are common mistakes that can cause delays and result in late posting of payments, which may lead to penalties. Avoid these mistakes by remembering the following tips: Using your legal company name can […]
