by Renu Vardhan | Jun 27, 2011 | 2011 Tax Updates, Standard Mileage Rate
The Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2011. As a result the rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011 and will be 51...
by Renu Vardhan | Jan 13, 2011 | 2011 Tax Updates
The 2010 Small Business Jobs Act signed by President Obama on September 27, 2010 expanded the scope of Form 1099 MISC reporting. As a result, for purposes of the information reporting requirements, a person receiving rental income from real estate is now considered to...
by Renu Vardhan | Dec 27, 2010 | 2011 Tax Updates, Tax Due Dates
Tax filing that normally would start first or second week of January has been delayed this year. The delay is to update and program the tax breaks included in a compromise tax bill President Obama signed last week into the IRS tax system. People claiming any of these...
by Renu Vardhan | Dec 27, 2010 | 2011 Tax Updates
Following inflation adjustments relate to the tax provisions that were either modified or extended by the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on Dec. 17 -Personal & Dependent Exemption increased to...
