Milage Rates for IRS Set

Mileage Rates for 2014

 

If you drive a car, truck or van for work, you'll want to make sure you know standard mileage rates the Internal Revenue Service (IRS) has set for 2014.

These mileage rates are used to calculate deductible costs for driving an automobile for business, charitable, medical and moving purposes. So when it comes to filing your taxes this year, you'll need these numbers!

New for 2014
As of January 1, 2014, the standard mileage rates are as follows:

  • Businesses = 56 cents per mile driven
  • Medical or moving = 23.5 cents per mile driven
  • Charitable organizations = 14 cents per mile driven
You'll notice that the rates for business, medical and moving expenses decreased one-half cent from the 2013 rates.

 

Make Sure You Qualify
Before you calculate your deduction, make sure you qualify. The IRS reminds taxpayers that they cannot use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously.

Additional Option
Although the IRS provides the standard mileage rate for ease and convenience, you're not required to use it. If you prefer, you can calculate the actual costs of using your vehicle instead of using the standard mileage rates.

Remember, if you have questions or concerns, talk to a tax consultant or accountant to discuss your options and unique situation. Please feel free to pass these tips along to your team, clients, and colleagues.


Posted on February 10, 2014 at 6:43 pm
David Pfrimmer | Posted in Uncategorized | Tagged

Southern Oregon Wine Map

In the Medford Mailtribune they have a great Wine Map and information in invididual wine tasting venues. Check out this link

http://www.mailtribune.com/apps/pbcs.dll/section?category=LIFE07

 

Southern Oregon wine making dates back to 1852 with Peter Britt, who first planted grapes and operated a winery in Jacksonville. Today Southern Oregon’s rugged mountain valleys and diverse climates allow for a wide variety of intensely flavored wine grapes to be grown. The varied hillsides and valleys with their microclimates enable both cool- and warm-climate varietals. In some areas pinot noir, pinot gris, riesling, sauvignon blanc, chardonnay, and gewürztraminer thrive, while the hot summers ripen big reds such as cabernet sauvignon, cabernet franc, tempranillo, merlot, malbec, dolcetto, zinfandel, grenache and syrah. In addition to albarino, pinot blanc, gruner veltliner, marsanne, rousanne, baco noir, marachel foch, mourvedre, semillon, petite sirah and viognier.


Posted on February 5, 2014 at 9:12 pm
David Pfrimmer | Posted in Uncategorized | Tagged

Jackson County, Oregon Foreclosure Filings and Inventory

These Foreclosure Stats as provided by Southern Oregon Multiple Listing Service.


Posted on February 5, 2014 at 8:40 pm
David Pfrimmer | Posted in Uncategorized | Tagged

Good Housing News for Oregon

Top 15 best housing markets in the nation.

The latest data from Fiserv Case Shiller shows that national home prices are expected to grow at an annualized rate of 3.2% between 2011 and Q2 2016. Good news for Oregon

#2 Medford, Oregon

Annualized growth from 2011 – 2016: +11.7%

Medford’s home prices have fallen 39.3% since their peak in Q2 2006. The metro has a population of 202,306 and median family income of $55,900.

#12 Eugene, Oregon

Annualized growth from 2011 – 2016: +8.8%  The median home price in Eugene is $188,000 and prices are 21.6% off their Q2 2007 peak. The city does have an unemployment rate of 9.6% and a median household income of $53,700 below the national median.

#1 Bend, Oregon

Annualized growth from 2011 – 2016: +11.9%

Home prices in Bend are 45.2% off their peak in Q1 2007, which could make it good time to invest. Bend’s median family income is close to the national average of $61,600, but unemployment is high at 12.6%.



Posted on January 9, 2012 at 7:57 pm
David Pfrimmer | Posted in Uncategorized |

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