Charitable contributions may help lower your tax bill

www.irs.gov If you made charitable contributions to a qualified organization, it may help lower your tax bill.Here are some tips to help ensure your contributions pay off on your tax return. To get a tax deduction, you must give to a qualified organization. You cannot...

Standard Mileage Rates up a penny from 2012

www.irs.gov The Internal Revenue Service today issued the 2013 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, 2013, the standard mileage rates...

IRS Issues Guidance for Flexible Spending Account Plans

www.irs.gov Starting Jan. 1, 2013, Flexible Spending Accounts, or FSAs, will have annual limits of $2,500per year. Going forward, the limit will rise annually based on the rate of inflation.FSAs allow workers to put aside money from their paycheck for health care...

Understand Your Employer’s Retirement Plan

www.irs.gov The first step in taking full advantage of your retirement plan at work is to understand the plan. Your employer must give you plan disclosure documents that provide a brief overview of the following basic concepts: Eligibility to participate Your plan’s...