Educators’ Deduction, IR-2004-124. This had expired at the end of 2005, but was restored for two more years.

Use Multiple Accounts for direct deposit of refunds! You can now split your refund with direct deposits into two or three checking or savings accounts. As always, you still have the options of: Direct deposit your refund into one checking or savings account or to receive your refund as a paper check in the mail.

Mileage Deduction Rate for 2008 is 50.5 cents for business miles driven between January 1 2008 through June 30, 2008.

Mileage Deduction Rate Increases for final 6 months of 2008: The Internal Revenue Service announced an increase in the standard mileage rates for the final six months of 2008. The rate increases to 58.5 cents a mile for all business miles driven from July 1, 2008, through Dec. 31, 2008.

For more information on sales, use, income, or payroll taxes, please contact us for a confidential consultation. info@nahsaccounting.com