The IRS has issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or job-related moving purposes. Effective January 1, 2013, the various standard mileage rates for the operation of a car, van, pickup, or panel truck are as follows: 56.5 cents per mile for each business...
Read MoreOn January 2, 2013, the President signed into law the American Taxpayer Relief Act of 2012 (“ATRA”) that prevents broad federal tax increases and spending cuts from going into effect beginning January 1, 2013. Thus, at least for the time being, the so-called “fiscal cliff” has been avoided. The new law retains many of the favorable tax measures that were slated to...
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