by Anthony Imbimbo | Jan 6, 2015 | Business Income Tax, Individual Income Tax
IR-2014-114, Dec. 10, 2014 WASHINGTON — The Internal Revenue Service today issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1,...
by Anthony Imbimbo | Sep 21, 2011 | Business Income Tax
Many businesses elect the S-Corporation status in order to avoid double taxation on corporate income and losses, which actually then “flow-through” to the shareholders’ personal tax returns and are assessed at individual income tax rates. However, an...
