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IRS Adjusts Mileage Rate - Apparently, the IRS has heard the hue and cry coming from the heartland and will increase the business mileage rate from 40.5 cents to 48.5 cents per mile effective for all business travel between September 1, 2005 and the end of the calendar year.

2005 Energy Act - During August, the Energy Tax Incentives Act of 2005 was signed into law.  While most of the provisions will affect energy producers and providers, there are many tax credits and provisions that will have an impact for both our small business clients as well as individual homeowners.

Nearing retirement and need to know your minimum IRA distribution?  Check out our IRA Minimum Distribution Calculator now updated with the IRS' new 2002 factors!

GST Trusts - As we have pointed out in past articles, estate taxes represent the single largest threat to a family's wealth over the course of several generations.  Depending upon the size of your estate and the state in which you live, estate taxes can consume more than half of your family's wealth without proper planning. 


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American Jobs Creation Act of 2004 - On Friday, October 22, 2004, the President signed into law the American Jobs Creation Act of 2004 (AJC Act) which contains $145 billion in business tax breaks. 

Families Act of 2004 - On October 4th, the President signed the Working Families Tax Relief Act of 2004 (Families Act). This is a $146 billion tax cut bill for both individuals and businesses that passed with wide majorities in both the House and Senate.  

IRS Announces Electronic Filing Requirements for Large Corporations, Exempt Organizations

IRS and AICPA Announce Agreement to Assist Disaster Victims

Teachers Should Save Receipts for Educator Expense Deduction

IRS Launches Study of S Corporation Reporting Compliance

IRS Announces Improvements to Tax Stats Web Pages