Index of Additional Tax Tips

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TAX TIPS and CHANGES.

Business Miles

The rates changed mid-year, the following grid applies for Tax Year 2011.
Ask Bill for more details.

2011 Rates Per Mile
Business Miles
1/1-6/30 7/1-12/31
51¢ 55.5¢
Business Miles on a depreciated vehicle 22¢
Medical & Moving Miles 19¢
Charity Miles 14¢

Education

  • American Opportunity Credit
  • Hope Credit
  • Lifetime Learning Credit
  • Education Individual Retirement Arrangement (IRA)
  • Individual Retirement Arrangements (IRAs) and Roth IRAs
  • Deductible Student Loan Interest

Maryland Tax Updates

  • Military Retirement Income Deduction up to $5,000.00
  • Quality Teacher Incentive
  • Earned Income Credit
  • Child and Dependent Care Credit
  • Pre-paid College Trust
  • Long-term Care Insurance Credit

For more information on how these changes may affect you, contact Bill.