TAX CHANGES FOR 2011
2011 STANDARD MILEAGE RATES - JULY 1 - DECEMBER 31,
2011
55.5 cents per mile for
business miles
23.5 cents per mile for
medical or moving purposes
14 cents per mile driven in service
of charitable organizations
2011 STANDARD MILEAGE RATES - JANUARY 1 - JUNE 30,
2011
51 cents per mile for business
miles
19 cents per mile for
medical or moving purposes
14 cents per mile driven in service
of charitable organizations
SAVINGS FOR
EMPLOYERS: The HIRE
Act went into effect on March 18, 2010. This Act allows
employers to claim a payroll tax credit for the employer
share of Social Security taxes for employees hired after
February 3, 2010 and before January 1, 2011. For more
information, see "Savings for Employers" under 2010
Tax Law Changes. If you didn't claim the credit in 2010,
you still can by amending your 2010 quarterly 941 reports.
You will still need to have your employees complete a W-11.
Not sure how to decide if you're eligible for the credit
or if it's worth it, call or e-mail me and we can discuss
it.