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The Difference Between The Standard Mileage Method and Actual Expenses

Posted in Tax News on June 19, 2012

The Internal Revenue Service (“IRS”) allows taxpayers to choose between the Standard Mileage Method and Actual Expenses. Standard Mileage Method The IRS allows taxpayers to deduct a standard mileage method for business travel.  The current allowance is for 55.5 cents…

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Seven Things Every Taxpayer Should Know

Posted in Tax News on January 14, 2011

1.  Know Your Tax Bracket This is where every taxpayer needs to start.  What is your tax bracket?  If you don’t know this number, just pull out your tax return from last year.  Look at the taxable income and look…

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