June 2012 Newsletter
Click on the hyperlink below for the June 2012 Newsletter
June-2012-Tax-Newsletter-2
IRS, Taxes, and Business Issues: The Top 10 Mistakes You Can Avoid
The following are resources of IRS publications for "The Top 10 Mistakes You Can Avoid", click the hyperlinks below:
IRS Publication 15-A Employer's Supplemental Tax Guide (2012)
IRS Publication 463 Travel Entertainment, Gift, and Car Expenses (2011)
IRS Publication 535 Business Expenses (2011)
IRS Publication 587 Business Use of Your Home (2011)
April 2012 Newsletter
Click on the hyperlink below for the March 2012 Newsletter
April-2012-Tax-Newsletter-email
February 2012 Newsletter
Click on the hyperlink below for the February 2012 Newsletter
February-2012-Tax-NewsletterIRS Mileage Rates for 2012 Taxes
Starting on January 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 55.5 cents per mile for business miles driven
- 23 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
These were announced on December 9, 2011, when the IRS issued IR-2011-116.
The rate for business miles driven is unchanged from the mid-year adjustment that became effective on July 1, 2011. The medical and moving rate has been reduced by 0.5 cents per mile.
You always have the option of calculating the actual costs of using your vehicle rather than using the standard mileage rates. However, you may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. Also, the business standard mileage rate cannot be used for more than four vehicles used simultaneously.
These and other requirements for you to use a standard mileage rate to calculate the amount of a deductible business, moving, medical or charitable expense are in Rev. Proc. 2010-51.
The bottom line is that the IRS continues to recognize it costs you more to operate your vehicle for business related travel. The strange part is that the medical and moving rate has been reduced by 0.5 cents per mile while the price of gasoline continues to go up.
We Are Not J. K. Harris - Tax Problem Resolution
We are not a big national company, we are local Indiana attorneys who help individual clients with tax problems. This includes Tax Resolution work with the IRS.
We don't claim to have offices across the country, we have one office on Meridian Street in Indianapolis.
We don't have hundreds of clients, our clients are not numbers. They are individuals people and businesses whom we care about and work hard on their cases in their best interest.
We don't charge fees for services for tax relief that you are not qualified to receive under the law. We charge fees for premium services clients are qualified to receive under the law. We help people get their life back from the IRS!
J.K. Harris has filed bankruptcy, there is a question whether their clients work will get done. We have not filed bankruptcy and our clients work will be completed.
We are not J. K. Harris. We are Ebbinghouse Law Group, LLC. Two Eagle Scouts in a family of eight Eagle Scouts (one more is about to complete his Eagle) that span three generations.
December 2011 Newsletter
Click hyperlink below to view the December 2011 Newsletter
December-2011Tax-Newsletter-Final