QuickBooksGal

IR-2011-69, June 23, 2011 WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51. In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. "This year's increased gas prices are having a major impact on individual Americans. The IRS is adjusting the standard mileage rates to better reflect the recent increase in ...

I got a call the other day from a client who was about to proc ess payroll. She discovered that one of her employees was not showing up in the list of employees to pay. She went to the employee list...he was there. She went back to the Pay Employees screen, he wasn't there. She called me to find out what the issue was. It was simple....he was a former employee that had returned. When he did, she went to his profile and made him ACTIVE again. Everything looked great onscreen and it appeared that she had done everything correctly. She had, however, forgotten one step: She had neglected to remove the TERMINATION DATE in his profile. As long as his file was marked Terminated, he would not show up in the Pay Employees window. I suggested that she record a NOTE in his profile indicating his original employment date, the subsequent termination date, then modify his file to reflect the current re-employment date and eliminate the ter...