Earned income credit. The maximum amount of income you can earn and still get the credit has increased. You may be able to take the credit if you earn less than:
$12,880 ($15,880 if married filing jointly), do not have a qualifying child, and are at least 25 years old and under 65,
$33,995 ($36,995 if married filing jointly), and have one qualifying child living with you, or
$38,646 ($41,646 if married filing jointly), and have more than one qualifying child living with you.
http://taxeswilltravel.com
Showing posts with label taxes will travel. Show all posts
Showing posts with label taxes will travel. Show all posts
Monday, January 12, 2009
Friday, January 2, 2009
Beginning on Jan. 1, 2009, the standard mileage rates for the use of a auto used for business is:
55 cents per mile for business miles driven
24 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
Note: If a taxpayer drives to his/her place of employment - this is NOT tax deductible, however, if the taxpayer drives "from" his/her place of employment to a second job, these miles are tax deductible.
For more information on tax deductions for small business owners, visit: http://websitetaxwriteoffs.com/
For legal clarification, visit irs.gov
55 cents per mile for business miles driven
24 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
Note: If a taxpayer drives to his/her place of employment - this is NOT tax deductible, however, if the taxpayer drives "from" his/her place of employment to a second job, these miles are tax deductible.
For more information on tax deductions for small business owners, visit: http://websitetaxwriteoffs.com/
For legal clarification, visit irs.gov
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