In Announcement 2026-11, the IRS has announced that starting July 1, 2026, the revised standard mileage rates are: (1) Business: 76 cents per mile (up from 72.5 cents per mile) (2) Medical and moving 23.5 cents per mile (up from
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to
Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer and the corporation unless proper steps are taken. This issue