Tag Archives: 2008 Tax Changes
More Changes for 2008
Posted on08. Dec, 2008 by Terry.
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Here are some additional changes for the 2008 Tax Year.
Tax-bracket thresholds increase for each filing status. For a married couple filing a joint return, for example, the taxable-income threshold separating the 15% bracket from the 25% bracket is $65,100, up from $63,700 in 2007.
The maximum earned income tax credit for low and moderate income workers [...]
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2008 Mileage Rate Changes
Posted on24. Nov, 2008 by Terry.
Because the cost of gasoline was so high during 2008, the IRS has increased the amount you can write off for mileage this year.
The standard mileage rate for business use of your vehicle this year will be:
50.5 cents per mile for the period 1 Jan 2008 – 30 June 2008.
58.5 cents per mile for the [...]
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