Tax Credits Available for Certain Energy-Efficient Home Improvements

Guest blogger, Michael A Visco, EA, ATA - Accounting professional for over 30 years located in Phoenix, Arizona specializing in Personal and Corporation Accounting, Taxes, Estate Planning, Setting up of new Business, Bookkeeping, Finance, Management Advisory Services, and IRS Representation. Currently servicing clients in the following states, NY,NJ,CT,FL,CA,CO,FL and AZ

Here is some information that you could use to get some credit for qualified home energy improvements this year. Perhaps you installed solar equipment or recently insulated your home? Here are two tax credits that may be available to you:

IRS Increases Standard Mileage Rate

Welcome our guest blogger, Michael A Visco, EA, ATA - I am an accounting professional for over 30 years located in Phoenix, Arizona specializing in Personal and Corporation Accounting, Taxes, Estate Planning, Setting up of new Business, Bookkeeping, Finance, Management Advisory Services, and IRS Representation. I am currently servicing clients in the following states, NY,NJ,CT,FL,CA,CO,FL and AZ

The IRS is revising the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, or moving expense purposes and for determining the reimbursed amount of these expenses that is deemed substantiated. This modification results from recent increases in the price of fuel. The revised standard mileage rates are 55.5 cents per mile for business use of an automobile and 23.5 cents for use of an automobile as a medical or moving expense. The new rates were effective on July 1,2011

Don't be Scammed by Fake IRS Communications

The IRS receives thousands of reports each year from taxpayers who receive suspicious emails, phone calls, faxes or notices claiming to be from the Internal Revenue Service. Many of these scams fraudulently use the Internal Revenue Service name or logo as a lure to make the communication more authentic and enticing. The goal of these scams – known as phishing – is to trick you into revealing personal and financial information. The scammers can then use that information – like your Social Security number, bank account or credit card numbers – to commit identity theft or steal your money.

Eight Things to Know If You Receive an IRS Notice

Did you receive a notice from the IRS this year? Every year the IRS sends millions of letters and notices to taxpayers but that doesn’t mean you need to worry. Here are eight things every taxpayer should know about IRS notices – just in case one shows up in your mailbox.