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Tracking Use Tax

Posted by Liz Weaver Posted on June 19 2013
Great tips from the Sleeter Group on how to track Use Tax.

2013 Mileage Rates

Posted by Liz Weaver Posted on Nov 27 2012

Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
     56.5 cents per mile for business miles driven
     24 cents per mile driven for medical or moving purposes
     14 cents per mile driven in service of charitable organizations

Employee vs Independent Contractors

Posted by Liz Weaver Posted on Nov 29 2011
From the St. Paul Pioneer Press:  Minnesota, the US Department of Labor and the IRS are teaming up to go after employers that misclassify workers.  There will be both educational outreach and many more investigations.  This is a serious problem as employers who correctly report their employees are put at a competetive disadvantage with those who don't.

IRS Increases Standard Mileage Rate to 55.5 Cents per Mile:

Posted by Liz Weaver Posted on July 11 2011
The Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes.

Introducing the IRS CalendarConnector for Small Businesses

Posted by Liz Weaver Posted on Mar 11 2011

The IRS has a new online tool to make it easier to remember important tax and deposit deadlines. Download the free IRS CalendarConnector and keep it on your computer desktop to check important tax dates on a daily, weekly or monthly basis. 

A Website Loaded With Free Business Templates

Posted by Liz Weaver Posted on Jan 19 2011
From The Journal of Accountancy:

When you have a few minutes to spare, surf over to Microsoft's Office at Work website. You may find that investing just a few minutes there may save you many hours in the future. The site is loaded with business templates (from analysis worksheets to Excel expense reports), software tips and budget designs, all of which are free to download. The website is

Mileage Rates

Posted by Liz Weaver Posted on Dec 31 2010

                              2011   2010

Business Miles         .51     .50

Medical Miles           .19    .165

Moving Miles            .19    .165

Charitable Miles       .14     .14

Time for Inventory

Posted by Liz Weaver Posted on Dec 22 2010

If your business has inventory you must take a physical count once a year. Do your accountant a favor and make that December 31 so you have an accurate year end inventory for taxes!