Get ready for advisor Feist's 2-minute tip, starting in 3, 2, 1. It's another year, and I can't believe it's already 2019. And guess what? The IRS now has an Instagram account! They are sharing piggy bank photos and saving tips. This is the highlight of my life and career. Finally, an Instagram account that provides the content viewers demand. I am so excited for the IRS. Thank you all for subscribing to my channel. I have received a lot of feedback, and I love it. It's great for me to create content that you truly enjoy. In this brand new year, we have some exciting plans. We will be releasing daily videos for the next 2 or 3 weeks. These videos will cover all the latest and greatest news for 2019 that will impact both business owners and taxpayers. We want you to stay up-to-date and avoid any surprises. Let's dive right in to today's 2-minute tax tips. We only have two minutes, so let's make the most of it. The IRS recently released the 2019 optional standard mileage rates. These rates are used to calculate the deductible cost of operating your personal vehicle for business, medical, and moving purposes. Here are the updates: - For business purposes, the rate is now 58 cents per mile driven. This is an increase of 3.5 cents compared to 2018. - For medical or moving purposes, the rate is now 20 cents per mile driven. This is an increase of 2 cents compared to 2018. - For charitable organizations, the rate remains unchanged at 14 cents per mile driven. Now, let's talk about moving purposes. Due to Trump's tax reform, taxpayers can no longer claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Additionally, unless you are a member of the Armed Forces on active duty and have...
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Video instructions and help with filling out and completing How Form 2220 Mileage
