Jan 13, 2025
At the end of December, the IRS announced standard mileage rates for 2025. Below are the deductions, if you are using an automobile for approved purposes:
It gets complicated
Before making your claim, you need to read the find print. For example, the IRS says that if you use your car only for business purposes, you may deduct its entire cost of ownership and operation (subject to various limits). However, if you use the car for both business and personal purposes, you may deduct only the cost of its business use.
The IRS explains that you can generally figure the amount of your deductible car expense by using one of two methods: the standard mileage rate method or the actual expense method. If you qualify to use both methods, you may want to figure your deduction both ways before choosing a method to see which one gives you a larger deduction.
Further details are available on the IRS site, Topic no. 510, Business use of car. You should discuss your situation with a tax professional.
©2025
Aug 29, 2025
Once, employees approaching retirement age could look forward to a long, relaxing post-work life. For much of the 55+ crowd, this is no longer the case, with many forestalling retirement for as long as possible. Read through for advice on employing silver workers in your organization.
Aug 28, 2025
For any company to treat their employees with respect and fairness, it needs to have a transparent pay equity policy in place that is shared with all employees. Read through to understand why creating pay equity is beneficial to your organization.
Aug 27, 2025
Thanks to a new federal income tax deduction provided by the One Big Beautiful Bill Act, many workers who put in extra hours will be able to keep more of their earnings. Read through to see who qualifies, how much could be saved and what the limits are.
Aug 26, 2025
A new federal law may allow millions of tipped workers to keep more of their earnings starting in 2025. Read through to find out who qualifies, how much could be saved and what to watch for.
Aug 25, 2025
Did you know that federal and state laws prohibit the use of immigration or citizenship status when making employment decisions? Read through for insights into how to approach immigration-related matters in a lawful way.
Jul 31, 2025
Employers conduct exit interviews with departing employees during the final days of offboarding. If done right, these interviews can be a source of valuable information to help the company improve.
More News & Press can be found in our Archive.
