Tags » I.R.S.

2018 IRS Mileage Rates

As we all get ready for the transition to living in the year 2018, IRS has released its official standard mileage deduction rates to be used on 2018 tax returns.  While the 2018 tax returns won’t be prepared until the 2019 Tax Season, these figures are more currently relevant since most businesses use the IRS rates for reimbursing their employees for business related trips in their personal vehicles. 152 more words

IRS

Let's Look at Tax Reform: Conference Bill Changes

Much of the tax reform won’t take effect until January 2018 and likely will not affect 2017 filing season.  However, there are some planning factors that may affect what is done during this final month of 2017. 391 more words

IRS

How long does an employer have to keep your W-2?

Tax season is coming upon us, and many employees are wondering how long their current or previous employers have kept their W-2 forms on file. Record retention varies depending on the documentation that is in question, but there are specific regulations regarding W-2 retention. 305 more words

A guide to paying taxes on bitcoin investments

Making money on bitcoin, ethereum, and scores of other cryptoassets has been remarkably easy this year. But in the US, paying taxes on those gains could be a lot more complicated. 920 more words

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Business

GOP tax bill would usher in a bleak future

By Fareed Zakaria
Thursday, Dec. 14, 2017

If the Republican tax plan passes Congress, it will mark a watershed for the United States. The medium- and long-term effects of the plan will be a massive drop in public investment, which will come on the heels of decades of declining spending (as a percentage of gross domestic product) on infrastructure, scientific research, skills training and core government agencies. 708 more words

Washington Post

IRS Announces 2018 Mileage Rates Even Though Tax Reform Talks May Limit Use

(Source: www.forbes.com)

The Internal Revenue Service (IRS) has issued the 2018 optional standard mileage rates and beginning on January 1, 2018, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 539 more words

Money Matters