Standard Mileage Rates for 2013

By |2022-08-18T08:46:51-04:00March 25th, 2013|Accounting and Auditing|

The 2013 standard mileage rates for use of an automobile are 56.5¢ per mile for business miles driven (an increase of 1¢ from 2012), and 24¢ per mile for medical or moving purposes (up 1¢ from 2012). The rate for rendering gratuitous services to a charitable organization remains unchanged at 14¢ per mile.   The [...]

Social Security and Medicare Update

By |2013-02-15T16:15:36-05:00March 18th, 2013|Accounting and Auditing|

The annual inflation adjustments have been made for the various social security amounts and thresholds.  So, we thought it would be a good time to update you for 2013.   The social security wage base, for computing the social security tax (OASDI only), increases to $113,700 in 2013, up from $110,100 for 2012. The additional [...]

Use QuickBooks’ Tools — and Common Sense Procedures — To Prevent Financial Fraud

By |2022-08-18T08:46:51-04:00March 11th, 2013|QuickBooks Tips|

You work hard for your money. Strong internal controls can keep it from disappearing unnecessarily. You trust your employees or you wouldn’t have hired them. That’s what everyone says as they watch a valued staff member being hauled off in handcuffs. But I trusted him. Whether your accounting tasks are done on one PC or [...]

Retirement Contribution and Other Limitations for 2013

By |2022-08-18T08:46:52-04:00March 4th, 2013|Accounting and Auditing|

The IRS has announced cost-of-living adjustments affecting the dollar limitations for retirement plans, deductions, and other items. Several of the limitations are higher for 2013 because the increase in the cost-of-living index met the statutory threshold. However, some limitations did not meet that threshold and remain unchanged from 2012.   The elective deferral (contribution) limit [...]

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