Universal Accounting Solution

Tax tip of the day:

2017 standard mileage rates for the use of a car (also vans, pickups or panel trucks) was:
- 53.5 cents per mile for business miles driven
- 17 cents per mile driven for medical and moving purposes
- 14 cents per mile driven in service of charitable organizations.

If you want to learn more, please click on the link below or send us a message.

2017 Standard Mileage Rates for Business and Medical and Moving Announced | Internal Revenue Service IR-2016-169, Dec.13, 2016 — The IRS today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Tax tip of the Day:

If you own stocks that have lost money, you can sell them and deduct up to $3,000 on your federal taxes for Capital losses, excluding the wash sales. the wash sale rule states you cannot purchase the same or a substantially similar stock within 30 days before or after the sale.

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