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Monthly Archives: December 2015

IRS 2016 Standard Mileage Rates

The Internal Revenue Service (IRS) issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning January 1, 2016, the standard mileage rates for the use of a vehicle will be: Mileage Rate 2015 Rate 2016 Rate business miles driven 57.5 cents per Read More

TAX ALERT: FUTA Credit Reduction States Released For 2015

Employers in California to Pay Higher FUTA Tax Rates Retroactively Employers in three states (California, Connecticut, and Ohio) and the U.S. Virgin Islands will pay higher Federal Unemployment Act (FUTA) taxes in January 2016, due to unpaid federal loans to those affected states. This increase will be based on FUTA taxable wages paid in the Read More