**** Check the NEWS ****First-Time Homebuyers Credit Extended****Only give to charitable organizations you know. Beware of frauds.********* Don't miss these ten common deductions, (1) Non Cash contributions, (2) New Points when refinancing, (3) Old Points on refinancing, (4) Health Insurance Premiums, (5) Educator Expenses, (6) Student Higher Education Expenses, (7) Clean Fuel Deduction, (8) Investment and Tax Expense, (9) Casualty Deductions and (10) Retirement Tax Credit..See us for details. ****MAKE AN APPOINTMENT ONLINE, CLICK ON LINK BELOW****CHECK OUT OUR NEW ONLINE APPOINTMENTS****BROKERS ARE NOT REQUIRED TO ISSUE 1099 UNTIL FEB 17 IF ISSUING A CONSOLIDATED FORM****

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The standard mileage amounts for 2010 are below and effective January 1, 2010 - December 31, 2010

Business Depreciation Medical Charitable Moving Airplane Motorcycle
$0.50 $0.16 $0.165 $0.14 $0.165 $1.24 $0.47

The standard mileage amounts for 2009 are below and effective January 1, 2009 - December 31, 2009

Business Depreciation Medical Charitable Moving Airplane
$0.55 $0.16 $0.24 $0.14 $0.24 $1.24

The standard mileage amounts for 2008 are below and effective January 1, 2008 - June 30, 2008

Business Depreciation Medical Charitable Moving
$0.505 $0.16 $0.19 $0.14 $0.19

The standard mileage amounts for 2008 are below and effective July 1, 2008 - December 31, 2008

Business Depreciation Medical Charitable Moving
$0.585 $0.16 $0.27 $0.14 $0.27

The standard mileage amounts for 2007 are below and were effective January 1, 2007 - December 31, 2007

Business Depreciation Medical Charitable Moving
$0.485 $0.16 $0.20 $0.14 $0.20

* Depreciation amount included in the business mileage rate is $ 0.16 cents per mile.

For the per diem rates click most up-to-date rates here. (New Rates effective 2010). The standard CONUS rate that applies to all destinations or counties that are not specifically listed is $116 ($70 for lodging and $46 for meals and incidental expenses).

Also this year, to reduce a recordkeeping burden, the IRS announced that taxpayers who use no more than four vehicles at the same time for business purposes may use the standard mileage rate, starting in 2004. Currently, those using more than one vehicle at a time cannot use the standard rate at all, leaving them to track the actual expenses for each vehicle.

 

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Last modified: 07/26/10