When we find more cost effective ways of completing necessary small business tasks, we like to offer them to you for your consideration and benefit.
We have discovered an innovative new tool to better document your IRS car mileage deductions in a 80% less time. BizMile is a significantly better way to organize mileage for taxes. Most importantly, it helps you to catch up and recreate 2011 logs so you can be ready for tax preparation in January. It even won an award from Accounting Today for being one of the best new products of 2011.
How it works
BizMile is Internet software that gives you an account with a password via email. It calculates your trip distance from your appointment addresses using Geo-Data. You do not have to know your trip distance; they give it to you and validate it. No more paper odometer books. It saves all addresses for reuse later and even next year. That means you can do this documentation when it is convenient to you and not lose a deduction. It offers the convenience of recreating accurate IRS compliant logs – in arrears – at the end of the week, the day or even at tax-time. You need only use your calendar of meetings as a daily record.
Click here to learn more about BizMile Tracker or go to www.Bizmile.com
It is easier and better than guess-timating. It gives more peace of mind and money in your pocket by being able to take all your deductions with confidence.
Discount code for 25% off
Use this discount code of BGuyCPA1 when you order to get 25% off – you pay only $29 for the current tax year.
We believe you will find this product a very useful time and money saver.
There is also a free version available called BizMile Lite.
The IRS announced today that the mileage rate for the rest of 2011 will be 55.5 cents per mile.
How is your year going so far? Have you filed your 2010 tax returns?
Mid-year is good time to do a check-up on your withholdings and tax deductions. Clean your closets. Make those charitable contributions of household items that you don’t use.
Check your retirement status. Are you where you want to be. Make a plan for the rest of 2011 that will work toward your goals.
Effective July 1, 2011 the extra 1% will drop off the sales tax rate for California reducing the rate back to 7.25%. Of course your local rate may be higher due to district and city add ons.
Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: • 51 cents per mile for business miles driven • 19 cents per mile driven for medical or moving purposes • 14 cents per mile driven in service of charitable organizations.
Keeping track of the business miles driven is most important. Consider using www.bizmile.com or one of the phone apps to help you keep up this this.
The Internal Revenue Service is using Twitter and other social media tools to share information with taxpayers and the tax professional community.
The IRS Twitter news feed, @IRSnews, provides the latest federal tax news and information for taxpayers. The focus of the IRS Twitter messages will be on easy-to-use information, including tax tips, tax law changes, and important IRS programs such as e-file, the Earned Income Tax Credit and “Where’s My Refund.” Anyone with a Twitter account can follow @IRSnews by going to http://twitter.com/IRSnews
If you haven’t filed your tax returns for 2009 yet, you are not alone. It is more and more common for people to extend and put off that unpleasant filing task until fall. There are less than 3 months to get it together and file by the October 15th deadline.
Those getting refunds have been loaning the US and State governments their money interest free. If you owe beware there will be interest charged on any amounts that were not paid by April 15th.
In any event enjoy the rest of your summer. Tax returns are still waiting for you.
So what are your plans for the rest of 2010. Do you have any life events in the works? If so talk to your accountant to make sure you are taking advantage of any tax benefits. Many credit opportunites are expiring. Don’t miss out.
So you missed out on the federal homebuyer’s credit? Don’t miss out on the California homebuyer’s credit. For those who are first time homebuyers or are buying a brand new home California is providing for a $10,000 credit that can be used over the next 3 years. Don’t wait too long though. There are limited funds allocated to this credit. So first come, first served.
Don’t wait until tax time. You should apply for this credit the minute you have your final escrow closing statement in your hands.
