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Tax & Accounting News

2014 Standard Mileage Rates

On December 6,2013, the Internal Revenue Service issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

56 cents per mile for business miles driven

23.5 cents per mile driven for medical or moving purposes

14 cents per mile driven in service of charitable organizations


Tax

Tax laws are complex and constantly changing.  They often are applied at several facets of a business and across numerous federal, as well as state and local, levels. Our professionals understand these complexities and have the complete, up to date knowledge that can be applied to effectively minimize our clients’ business and individual tax burdens.

We firmly believe tax minimization is best achieved through year-round communication with our clients. Decisions often times obtain their tax-treatment on occurrence, not months later when a return is filed. As such we maintain a continuous interaction throughout the year with our clients to make sure the timing and structure of these decisions is going to be most tax advantageous to them.

We offer tax compliance and planning services for:

  • All forms of business entities
  • Individuals
  • Fiduciary, Estate, and Gift taxes