taxes: 2008 TAX CHANGES
- 01/04/09 05:52 AM
New Deductions Could Mean More Cuts1 Mileage IncreaseThe standard mileage credit IRS gave in 2007 was 50.5 cents for business and 19 cents for medical or qualified moving trips. However, due to sudden gas price increases - and not-so-gentle congressional prompting - these expenses have gone up effective July 1 of this year. That is the tricky part. Thus, the reimbursement stays as is from January 1- June 30. However, from July 1 on, you can claim 58.5 cents for each business mile driven and 27 cents for medical and moving purposes. That could add up to some big change for … (1 comments)
New Deductions Could Mean More Cuts1 Mileage IncreaseThe standard mileage credit IRS gave in 2007 was 50.5 cents for business and 19 cents for medical or qualified moving trips. However, due to sudden gas price increases - and not-so-gentle congressional prompting - these expenses have gone up effective July 1 of this year. That is the tricky part. Thus, the reimbursement stays as is from January 1- June 30. However, from July 1 on, you can claim 58.5 cents for each business mile driven and 27 cents for medical and moving purposes. That could add up to some big change for … (1 comments)
;)
;)
