The Internal Revenue Service today issued the 2009 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, 2009, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:

55 cents [...]

The spirit of giving seems to grow during the holiday season, and many donations are made to charitable causes at this special time of year. The IRS reminded taxpayers today to keep some important points in mind when making donations with the expectation of deducting them on a federal tax return.
You can deduct donations [...]

NEW YORK — Heading into the holidays, you’re probably thinking a lot about money. And this time of year tax advisers like to remind us that there are ways to minimize our tax bills next April.
As 2008 draws to a close, here are some steps you can take to minimize your taxes.
Get organized: The first [...]

A majority of businesses are organized as pass-through entities that transfer their income and tax liability to the individual owners. Those businesses will need to combine individual tax planning for the owners at the same time they do yearend planning for their business.
Here are some things to consider in your planning:
# Make purchases of certain [...]

There may be time to cut your income tax bill and either owe less or get a larger refund next year. Let’s start with the most obvious: investments that have lost money.
The IRS allows you to take a loss from the sale of losing investments for up to $3,000 against all other income. You can [...]