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Frequently Asked
Questions
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| Q: | What are the standard mileage rates for 2007 and 2008? | ||
| A: | In cents per mile, | 2007 | 2008 |
| Business: | 48.5 | 50.5 | |
| Medical: | 20.0 | 19.0 | |
| Charitable: | 14.0 | 14.0 | |
| Moving:
|
20.0
|
19.0
|
|
| Q: | What are the FICA limits for 2007 and 2008? | ||
|
A:
|
For
2007 the FICA limit is $97,500; for 2008 its $102,000.
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Amy R. Cook, PC
1514 Corona Drive Austin, TX 78723
512.419.9696 / 512.233.1085 fax
amy@acookcpa.com
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Copyright© 2008 Amy R. Cook, PC