Tax Tips Small Business

  • Employers of Tipped Employees Allowed a Tax Credit

    Are you getting the credit you deserve?

    If you are an employer in the food and beverage industry, you may be entitled to a tax credit for the social security and Medicare taxes you pay on your employees' tip income. You must meet both of the following requirements to qualify for the credit:

    Read more ...

Small Business Quick Tip

  • Business Mileage Rate 2

    The optional standard mileage rate for the business use of an automobile is 54 cents per mile in 2016.
Saturday, 26th May 2018
EASEAL_L

What is an Enrolled Agent and why should I care?

Click Here to find out

 

NATP Member

Follow us on

TwitterFacebook

Tax Tips Personal

  • Let the Sun Shine

    Certain solar-powered improvements are eligible for a tax credit

    You are allowed a credit for 30 percent of certain expenditures that increase the energy efficiency of your personal residence. Costs eligible for the credit include qualified solar electric property expenditures, qualified solar water heating property expenditures, and qualified fuel cell property expenditures. The credit is available for residential energy-efficient property placed in service in 2006, 2007, and 2008. There is no requirement that property be new to qualify. Read more ...

Personal Quick Tip

  • Mileage Rates

     

    Beginning January 1, 2017, the standard mileage rates for the use of a car (including vans, pickups, or panel trucks) are:
    • 53.5 cents per mile for business miles driven;
    • 17 cents per mile for all miles driven for medical or moving purposes; and
    • 14 cents per mile for all miles drive for charitable purposes.