Ask a CPA
The most frequently asked tax questions, answered by our network of licensed accountants.
Can't find the answer to your question? Ask a tax question.
Mileage Rate (per mile) deduction - 2014
Asked Wednesday, January 15, 2014 by an anonymous userCPA Answer:
Beginning on January 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
56 cents per mile for business miles driven
23.5 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
Phase-out of itemized deductions
Asked Wednesday, January 15, 2014 by an anonymous userCPA Answer:
There is a phase-out of itemized deductions for taxpayers with AGI above $259,400 (individual filers), $311,300 (MFJ) and $285,350 for head of households.
The total reduction can not be more than 80% of the gross itemized deductions.
The total reduction can not be more than 80% of the gross itemized deductions.
Colorado
Asked Monday, December 30, 2013 by an anonymous userCPA Answer:
For 2014, the minimum wage is $8.00.
Maine
Asked Monday, December 30, 2013 by an anonymous userCPA Answer:
For 2014, the minimum wage is $7.50.
Massachusetts
Asked Monday, December 30, 2013 by an anonymous userCPA Answer:
For 2014, the minimum wage is $8.00.
Illinois
Asked Monday, December 30, 2013 by an anonymous userCPA Answer:
For 2014, the minimum wage is $8.25.
Florida
Asked Monday, December 30, 2013 by an anonymous userCPA Answer:
For 2014, the minimum wage is $7.93.
District of Columbia
Asked Monday, December 30, 2013 by an anonymous userCPA Answer:
For 2014, the minimum wage is $8.25.
Arizona
Asked Monday, December 30, 2013 by an anonymous userCPA Answer:
For 2014, the minimum wage is $7.90.
Arkansas
Asked Monday, December 30, 2013 by an anonymous userCPA Answer:
For 2014, the minimum wage is $6.25.