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Tax Tips You Can Bank On: Sept 15, 2005

From: Ron Mueller's Tax Tips

I’ve got FOUR important announcements for you in this issue of "Tax Tips You Can Bank On"…
ONE:
The IRS has just announced that the mileage- deduction rate for business use of your vehicles, which was set at 40.5 cents per mile effective January 1, 2005, jumped to 48.5 cents per mile, effective September 1st and lasting through December 31st. The 20% hike is due to the outrageous increase we’ve seen in gas prices.

The deductible rate for Medical and Moving expenses was increased to 22 cents a mile (up from 15 cents for the first eight months of 2005), but the rate for providing services for Charitable Organizations (which is set by Congress, not the
IRS) remains at 14 cents a mile.

If you haven’t yet done your 90-consecutive-day vehicle log, TIME IS RUNNING OUT. Two weeks from now, less than 90 days will be left in 2005.
For more info about recordkeeping requirements, see Chapter 7 of "It’s How Much You KEEP, That Counts!
Not how much you Make" (see item 3, below).

TWO:
In two weeks we will launch the first in a series of monthly "Honest Help from Real Experts"
conference calls…

Are you one of the 200+ who has asked me for guidance concerning when you should change your business structure from a Sole Proprietorship to a Partnership or an S-Corporation or a C-Corp?

Cheri Hill, President of Sage International, the well known Reno-based authority on business structures, was the special guest on a 1-hour conference call on Tuesday, Sept. 27th.

THREE:
The completely updated FOURTH Edition of "It’s How Much You KEEP, That Counts!
Not how much you Make" has just been released.
At www.HomeBusinessTaxSavings.com you can order it for just $27.95 for the downloadable version or $37.95 for the 178-page printed and bound edition.
(Both tax-deductible, of course!)

I listen to your feedback. Every question that I’ve received 3 or more times since the Third Edition was released, is answered in the Fourth Edition. The Appendices that were included in the Third Edition, have been moved to the web site as downloadable documents, making room for 20+ pages of all-new information. Everything in the Third Edition is still accurate, but the Fourth Edition covers your FAQs, plus all three major Tax Bills passed by Congress in the past 18 months.

FOUR:
Have you visited the web site
www.HomeBusinessTaxSavings.com lately?
It has a whole new look, it’s far easier to navigate, and you’ll find tons of new information, plus several valuable no-cost & low-cost downloads.
Take a look. And give me your feedback.
There are four Tax Tips You Can Bank On.
Save a Bundle!

Ron Mueller, author

posted by Chet Hall @ 11:14 AM