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- 5. March 2010: Reverse Mortgages - Taxable? Deductible?
- 3. March 2010: Work Clothes Deduction
- 12. February 2010: Scholarship Count Toward Support?
- 7. February 2010: Mileage Rates in 2009
- 5. February 2010: Do You Have to File?
- 5. February 2010: Cost Segregation = Tax Savings
- 4. February 2010: Breast Implants - Deductible Medical Expense?
- 26. January 2010: Work for Pay Credit - How much did you receive?
- 26. January 2010: Work for Pay Credit 2009 & 2010
- 26. January 2010: LLC to be taxed as a Corporation?
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Archive for the International Taxation Category
Mileage Rates in 2009
7. February 2010 by admin.
2009 Standard Mileage rates for the use of a car (includes Pickups, Vans and Panel Trucks):
- 55 cents per mile for business miles driven (decreases to 50 cents per mile in 2010)
- 24.0 cents per mile driven for medical or moving purposes (decreases to 16.5 in 2010)
- 14 cents per mile driven in service of charitable organizations (same in 2010)
Runzheimer International conducts an annual study of fixed and variable expenses to operate a vehicle. Please note the Business Mileage Deduction may not be used if a vehicle has been depreciated using MACRS or depreciated using §179.
Posted in International Taxation, Sub S Corporations, LLC's, Income Tax | No Comments »
Cost Segregation = Tax Savings
5. February 2010 by admin.
Cost Segregation is a VERY BENEFICIAL tax angle used by real estate owners to ACCELERATE DEPRECIATION deductions.
In the past it was primarily used by large accounting firms and larger clients. The ability for smaller building owners to utilize these techniques is now becoming popular.
It takes an engineering study and an accounting firm that understands the issues.
Generally here is how it works…..
An engineering study is completed to identify components in a buiding that can be depreciated over 5, 7 and 15 years instead of 39 years for commercial property and 27.5 for residential property.
We then prepare what is called an ACCOUNTING CHANGE and the prior year(s) of lower depreciation are now adjusted in one year!
This is alot of paperwork but it is often worth it. You are welcome to contact us if you have questions www.USATaxHelp.com
Posted in International Taxation, Sub S Corporations, LLC's, Income Tax | 1 Comment »
Disclosure Authorization
27. November 2009 by admin.
Client Disclosure Authorization
Effective January 1, 2009, before we can present ANY of your information to outside parties for any reason, we must have your WRITTEN authorization in our files per Internal Revenue Code § 301.7216-3. We have our Authorization Form on the main website www.USATaxHelp.com
Posted in International Taxation, Payroll Tax, Sub S Corporations, LLC's, Income Tax, General | 1 Comment »