Quick Reference To Common Questions

Most of these issues are covered in more detail elsewhere on this website.

Salvation Army donation value guide

Sending QuickBooks Files To Kerry

Deducting meals, entertainment & travel

IRS Standard Mileage Rate For Business

1/1/16-12/31/16:      54.0  cents per mile

1/1/15-12/31/15:      57.5  cents per mile

1/1/14-12/31/14:      56.0  cents per mile

1/1/13-12/31/13:      56.5  cents per mile

7/1/11-12/31/12:      55.5  cents per mile

1/1/11-06/30/11:      51.0  cents per mile

1/1/10-12/31/10:      50.0  cents per mile

1/1/09-12/31/09:      55.0  cents per mile

IRS Interest Rates For Under & Over-Payments

From  4/01/16 through 06/30/16    4.0%

From  10/01/11 through 3/31/16    3.0%

From  4/01/11 through 09/30/11    4.0%

From  1/01/11 through 3/31/11    3.0%

From  4/01/09 through 12/31/10    4.0%

From  1/01/09 through 3/31/09    5.0%

From  10/01/08 through 12/31/08    6.0%

From  7/01/08 through 9/30/08    5.0%

 From  4/01/08 through 6/30/08    6.0%

From  1/01/08 through 3/31/08    7.0%

    From  7/01/06 through 12/31/07    8.0%

    From  10/01/05 through 6/30/06    7.0%

    From  4/01/05 through 9/30/05    6.0%

    From  10/01/04 through 3/31/05    5.0%

    From  7/01/04 through 9/30/04    4.0%

    From  4/01/04 through 6/30/04    5.0%

    From  10/01/03 through 4/01/04    4.0%

    From  1/1/03 through 9/30/03        5.0%

Section 179 Expensing Limits

2015 & On    $500,000 (Made permanent on 12/18/2015)

2014    $500,000 (Corporations  for tax years starting in 2014)

2013    $500,000 (Corporations  for tax years starting in 2013)

2012    $500,000 (Corporations  for tax years starting in 2012)

2011   $500,000 (Corporations  for tax years starting in 2011)

2010   $500,000 (Corporations  for tax years starting in 2010)

2009   $250,000 (Corporations  for tax years starting in 2009)

2008    $250,000 (Corporations  for tax years starting in 2008)

2007    $125,000 (Corporations - for tax years starting in 2007)

2006    $108,000 (Corporations - for tax years starting in 2006)

2005    $105,000 (Corporations - for tax years starting in 2005)

2004    $102,000 (Corporations - for tax years starting in 2004)

    2003    $100,000 (Corporations - for tax years starting in 2003)

    2002    $24,000

Vehicles Weighing Over 6,000 Pounds

Estate Tax Lifetime Exclusion
    (Year of death)

    2016    $5,450,000

    2015    $5,430,000

    2014    $5,340,000

    2013    $5,250,000

    2012    $5,120,000

2010 + 2011   $5,000,000

2009    $3,500,000

2008    $2,000,000

    2007    $2,000,000

    2006    $2,000,000

    2005    $1,500,000

    2004    $1,500,000

    2003    $1,000,000

    2002    $1,000,000

Annual Gifting Exclusion
Per Donor (Giver) per Donee (Recipient) during calendar year.

    2016    $14,000

    2015    $14,000

    2014    $14,000

 

Online SS-4 Application For Federal Employer Identification Number - You need to get this new ID number as soon as your new business (corporation, partnership, LLC or trust) is officially established.

 

Small Business Info From IRS:

 

   

 

This page was updated: 04/30/2016

 

 

Kerry M. Kerstetter
MBA~CPA~ATP~ATA
827 E Winnetka Street
Hernando, FL  34442-2662
E-Mail: KMKCPA@TaxGuru.org
Web: www.TaxGuru.org
Main Blog: TaxGuru.US
QuickBooks Blog: http://taxguruqbtips.blogspot.com