Meuse Associates, LLC

Georgia has published the 2023 interest rate applicable to some refunds AND to past due taxes. For 2023, the rate will be 10.5%. This is up from the 6.25% that was paid/charged in 2022. That is a 68% increase!!
Marti Scheibley Meuse

Here's a little relief from the record-high gas prices we're currently experiencing. The IRS is raising the business mileage rate effective July 1st from $0.585 per mile to $0.625 per mile. It has been 11 years since the last time the IRS made a mid-year adjustment like this, so I'm happy they understand we need this!!
If you own a small (or large) business, don't forget to keep track of your business miles so you can claim this valuable deduction!!
https://www.irs.gov/newsroom/irs-increases-mileage-rate-for-remainder-of-2022
Marti Scheibley Meuse

IRS increases mileage rate for remainder of 2022 | Internal Revenue Service IR-2022-124, June 9, 2022 — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain oth...

The 2022 business mileage rates have been approved. It is a little higher than it was in 2021!

Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021,
18 cents per mile driven for medical, or moving purposes for qualified active-duty members of the Armed Forces, up 2 cents from the rate for 2021 and
14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2021.