2016 Mileage Rates Now Established
The IRS recently announced mileage rates to be used for travel in 2016. The Business mileage rate decreases by 3.5 cents while Medical and Moving mileage rates are lowered by 4.0 cents. Charitable mileage rates are unchanged.
In this issue:
The Month of January:
With the flip of a switch, a number of tax provisions that expired at the end of 2013 are now back on for 2014 tax returns. Outlined this month is a list of the more common laws that have been extended for 2014, but are off once again in 2015. Also included are the mileage rates for use in 2015, a general interest article describing the increasingly popular peer-to-peer lending phenomena, and a quick recap of things to consider as you start gathering your 2014 tax records.
Should you wish to review your situation please feel free to call. Also feel free to forward this newsletter to someone who may benefit from this information.
Phone: 805-389-7300 • Fax: 805-435-7498 • This email address is being protected from spambots. You need JavaScript enabled to view it. • www.SharpCPA.com
