By Admin on December 7, 2009
A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.
Posted in Tax Deductions, Tax News | Tagged mileage, mileage rates, rates, standard, standard mileage rates
By Admin on November 23, 2007
Note: These tax rate schedules are provided so that you can compute your federal estimated income tax for 2007. To compute your actual income tax, please see the instructions for 2007 Form 1040, 1040A, or 1040EZ as appropriate when they are available. Schedule X — Single If taxable income is over– But not over– The [...]
Posted in Tax Tools | Tagged 1040, 1040a, 1040ez, efile, Federal Tax, income tax, rates, rates schedules
