Betts Best Bookkeeping

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Per Rev. Proc. 2007-70 on January 1, 2008 the standard mileage rate for business use of cars/pickups/vans/panel trucks will increase from 48.5¢ to 50.5¢ per mile. The rate for medical or moving purposes will drop from 20¢ per mile to 19¢ per mile while the rate for miles driven in service of charitable organizations will remain the same at 14¢ per mile.

Keep in mind you can’t claim business mileage if your vehicle is depreciated under any of the MACRS methods of depreciation, after you’ve claimed a Section 179 deduction on the vehicle, if the vehicle is used for hire, or if you use more than four vehicles simultaneously.

Are you a small business with simple money in/money out transactions in need of a simple solution to organize all your business data? Intuit® offers a very basic accounting/bookkeeping software package called Simple Start® that you can download for free.

The free version is not a trial so there is no expiration date, but you will need to download and register the current version by 01/31/09.

With Simple Start® you’ll be able to:

1. Create invoices
2. Create sales receipts
3. Receive payments
4. Record deposits
5. Record cash and credit card transactions
6. Print checks
7. Issue refunds

You’ll stay organized, look more professional, and be ready for tax time.

If you need more features check out other QuickBooks Solutions For Your Industry that are available.

*Sponsored Post

As of November 7, 2007 the new revised I-9 Form (revised 06/05/2007) must be used to verify employment eligibility.

The revised form reflects the removal of five documents from List A previously accepted as proof of employment eligibility. The documents removed are:

1. Certificate of U.S Citizenship - Form N-560 or N-561
2. Certificate of Naturalization - Form N-550 or N-570
3. Alien Registration Receipt Card - I-151
4. Unexpired Reentry Permit - Form I-327
5. Unexpired Refugee Travel Document - Form I-571
   

The Unexpired Employment Authorization Document - I-766 was added to List A of the List of Acceptable Documents. Additionally the following Employment Authorization Documents with photographs that are currently in circulation are also included as one item on List A.

1. I-688
2. I-688A
3. I-688B
4. I-766

For more information you can download the USCIS Revises Employment Eligibility Verification Form I-9 fact sheet from the website of the U.S. Citizenship and Immigration Services. Download the Revised Form I-9 (Rev. 06/05/2007) N