 FREQUENTLY ASKED QUESTIONS:
- What is the business standard mileage rate for 2008?
For 2008 it was increased to 50.5 cents per mile for all business mileage from January 1st through June 30th and increased again to 58.5 cents per mile from July 1st through December 31st (19 cents for Medical and Moving for January-June, rising to 27 cents for July-December, and 14 cents for Charitable for the entire year).
- How much can I contribute to my IRA for 2008?
The maximum IRA contribution for 2008 is now $5,000. And if you are 50 years old or over you are allowed a "catch-up" contribution of an additional $1,000.
CALL US TODAY ABOUT SETTING UP A TRADITIONAL OR ROTH IRA.
- Is there a deduction for contributing to a College Savings Plan?
The maximum deduction for contributing to the Oregon 529 College Savings Plan for 2008 is $2,000. However, it's only deductible on your Oregon return. There is no deduction available for your federal return.
CALL US TODAY ABOUT SETTING UP A 529 COLLEGE SAVINGS PLAN.
If you have any other questions, please send them to: paul@sherwoodcpas.com
SOME OF OUR CLIENTS' WEBSITES:
ABC Doula Service
A.J.'s Computer Bug
Bartel Contracting
Clouds and Company
Decalo Fashion
Eastside Wellness Center
George Schmid & Sons, Inc.
Heart of Sherwood
Iron Mutt Coffee
Ken Flynn Painting
Losli Fence & Deck
Mr. Handyman
Nurv Paintball Club
Nutshell High Fidelity
Open Metrics
Pathfinders Mortgage
Personakey
Pilot Baseball School
Sherwood Area Chamber of Commerce
Sherwood Dance Academy
Sherwood Education Foundation
Sherwood High School Boosters
Sherwood Lacrosse Club
Tualatin High School Boosters
Vista Balloon Adventures
OTHER LINKS:
 Internal Revenue Service
Oregon Department of Revenue
Sherwood Gazette
President Bush's Tax Plan
Back  Home
|
