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Acknowledging Charitable Donations and the $250 Receipt Rule

While the phrase “the devil is in the details” is commonly used, its origins are unknown. However, it is pretty easy to imagine someone inventing it while dealing with the Internal Revenue Service. Sometimes even the simplest and seemingly minor mistakes will cause the IRS to cry foul and, in some instances, those mistakes can … Read more

IRS Sets 2018 Mileage Reimbursement Rate for Travel

Every year the IRS issues its Standard Mileage Reimbursement Rate, which determines the amount that can be used as a tax deduction for business travel. It also serves as a guideline for employers who reimburse their employees for miles driven. Standard Mileage Reimbursement Rate for 2018 As of January 1, 2018, the rate has been … Read more