Workers can take steps now to save for retirement and earn a special tax credit now and in the years ahead. The saver’s credit helps offset part of the first $2,000 workers voluntarily contribute to IRAs, 401(k) plans and similar workplace retirement programs. One can set up a new individual retirement arrangement or add money …
Mileage Rate for 2012
Optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes has been announced for 2012. Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 55.5 cents per mile for business miles …
Managing Your Tax Records
As we near the end of the year, it is time to start thinking about tax preparation. Records, receipts and supporting logs are all needed to prepare an accurate tax return. You will also need these documents when the IRS selects your return for a tax audit. The IRS has added thousands to their staff …
Charitable Contributions Help Lower Taxes
Charitable contributions made to a qualified organization may help to lower a tax bill. To help ensure your contribution is deductible, pay attention to the following reminders. Your contribution must be to a qualified organization, check with the organization to ensure your contribution is tax deductible. If you give to a specific individual, a political …
Missouri State Unemployment
Every employer in Missouri pays into the Missouri Unemployment Insurance program. Frequently, we hear from those who are receiving benefits that since _they_, the employee, have paid into the fund, then they are going to take as much as they can from the fund. A common misconception occurs with the previous statement. Employers not employees …
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