Protecting Americans From Tax Hikes Act of 2015 (PATH) This bill was signed by President Obama on December 18, 2015, and made permanent various tax provisions. A sample of items made permanent by this act: The American Opportunity Tax Credit (education expenses) The $250 “above-the-line” deduction for teachers for expenses paid for books, supplies and […]
Standard Mileage Rates for 2014
The standard mileage rates have been released by the IRS for 2014 (Notice 2013-80). Beginning on January 1, 2014, the standard mileage rates for the use of a car (vans, pickup trucks or panel trucks) will be: 56 cents per mile for business miles driven. 23.5 cents per mile for medical or moving purposes. 14 […]