IRS Announces 2009 Standard Mileage Rates

The IRS has issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. 

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How the Financial Rescue Plan May Affect You

The financial rescue plans and bail-out measure being taken by the government will have far-reaching effects on everyone. The underlying financial situation that prompted these rescues will have even more of an impact.

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Business Changes for 2009

Over the past several months, Congress has been enacting legislation to stabilize the economy.  At the urging of the incoming administration, Congress is working on yet another stimulus plan.  As they make temporary changes to the tax code and extend expiring provisions, and with the phase-in phase-out provisions of earlier legislation, it becomes more difficult to keep track of what does and does not apply for the 2009 year.

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Personal Use of Employer-Provided Vehicles

One of the most common fringe benefits provided to employees is the use of a company-owned or leased vehicle.  The personal use of an employer-provided vehicle by law is designated as a fringe benefit and, generally, fringe benefits are taxable unless specifically excluded by law.  As such, taxable fringe benefits are subject to employment taxes and are includible in the employee’s Form W-2, Wage and Tax Statement.  There are special rules to withhold, deposit and report the employment taxes on these benefits.

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Smart Ways to Raise Cash in an Emergency

Even the most cautious people can encounter a financial emergency and will need cash fast to deal with it.  Unexpected auto and home repairs, health emergencies, and work layoffs are common situations that can occur.

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