2020 Standard Mileage Rates

  • 57 1/2 cents per mile for business miles driven
  • 17 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

2019 Standard Mileage Rates

  • 58 cents per mile for business miles driven
  • 20 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

Check It Out!

Check out the article in the Central Penn Business Journal, Women Who Lead, March 2019 article featuring our partner Jori Culp

http://www.cpbj.com/article/20190306/CPBJ01/303069999/women-who-lead-jori-m-culp-cpa?fbclid=IwAR1QS3LqoY_P5jEkST4y0QOhRYFYvqzr3UunTpTTFF5PKLUqEfT3JSxd-Tw

Tax-Related Identity Theft

The IRS combats tax-related identity theft with aggressive strategies of prevention, detection and victim assistance. To find out more about tax-related identity theft call our office or visit https://www.irs.gov/identity-theft-fraud-scams/identity-protection for information and guidance.

Remember that the IRS will never contact you by electronic means. This includes emails, phone calls, text messages, or social media channels. If you are ever in doubt whether contact by someone claiming to be from the IRS is legitimate, call our office first for verification.

 

The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a Paycheck Protection Program (PPP) loan. Specifically, an expense isn’t deductible if both: 1) the payment of the expense results in forgiveness of a loan made under the PPP, and 2) the income associated with the forgiveness is excluded from gross income under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. IRS Notice 2020-32 states that “this treatment prevents a double tax benefit.” However, two members of Congress say they’re opposed to the IRS stand on this issue. They say they’ll seek legislation to make certain expenses deductible. Stay tuned.

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339 West Governor Road, Suite 202, Hershey, PA 17033
Phone: (717) 533-5154  •  Toll-Free (888) 277-1040