Author's posts
Jan 13
How long should I keep paper work and tax records?
You can toss some supporting documents, but you’ll need to hang onto others for years. By Kimberly Lankford I’m cleaning out my files now that it’s the beginning of the year. How long should I keep my stock records? What about other tax records? This is a great time of the year to get rid …
Jan 13
How much can I deduct for non-cash contributions?
Valuation guide for items donated to The Salvation Army The following is a list of the average prices in The Salvation Army thrift stores for items in good condition. This list is available online at http://www.salvationarmysouth.org/valueguide.htm. This list is for your guidance only. LADIES’ CLOTHING low range high range blouse 2.50 12.00 bathrobes 2.50 12.00 …
Jan 13
What are the standard mileage rates for auto expenses for 2010?
Optional Standard Mileage Rates Updated for 2010 The IRS has updated the optional standard mileage rates for use by employees, self-employed individuals or other taxpayers in computing the deductible costs of operating a passenger automobile for business, charitable, medical, or moving expense purposes. The new rates apply to costs paid or incurred on or after …
Jan 13
Who must file a tax return?
You must file a federal income tax return if you are a citizen or resident of the United States or a resident of Puerto Rico and you meet the filing requirements for any of the following categories that apply to you. Individuals in general. (There are special rules for surviving spouses, executors, administrators, legal representatives, …
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