What Do Taxes Have to Do with a Princess?!

WELLINGTON, NEW ZEALAND – October 28, 2018 in Wellington, New Zealand.
(Photo by Mark Tantrum/ http://marktantrum.com)

Wrote this article for The Staffing Stream regarding cross-border providers. If you’ve ever been curious how taxes could affect Her Royal Highness the Duchess of Sussex, Meghan Markle, click below for an interesting read!

Standard Mileage Rates for 2020

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The 2020 standard mileage rate for transportation or travel expenses is now 57.5¢ for all miles of business use.

The 2020 standard mileage rate is 17¢ per mile for use of an auto for medical care.

The standard mileage rate is 14¢ per mile for use of an auto for charity.

Keep in mind for 2019 to 2025, a taxpayer can no longer deduct employment expenses unless they are in the military, or performing artists or states that allow it. Self-employed individuals and businesses can still deduct their mileage expenses.

It took 8 years, but the IRS finally updated the Per Diem Rules!

photo of person holding pen

Photo by Acharaporn Kamornboonyarush on Pexels.com

 

Wondering when the Per Diem Revenue Procedure was ever going to be updated? Well the IRS just updated it! Click the following link to go to new IRS Revenue Procedure 2019-48 which addresses per diems.  This replaces IRS Revenue Procedure 2011-47.

https://www.irs.gov/pub/irs-drop/rp-19-48.pdf