End of 2012

aztecHappy Holidays everybody! Two quick updates for the close of 2012 and kicking off 2013:

End of Year Donations

This comes up every year, when do you record a donation received in 2013 but dated 2012, and your fiscal year closes on December 31st? Click here for a post about that issue.

2013 IRS Mileage Rates

The IRS has updated them as follows:

Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 56.5 cents per mile for business miles driven.
  • 24 cents per mile driven for medical or moving purposes.
  • 14 cents per mile driven in service of charitable organizations.

The rate for business miles driven during 2013 increases 1 cent from the 2012 rate. The medical and moving rate is also up 1 cent per mile from the 2012 rate.

Click here for the full article.

 

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