Contact Paul +

Time limit is exhausted. Please reload CAPTCHA.

Autos

IRS releases 2016 auto/truck maximum FMVs for cents-per-mile valuation and fleet-average rule

IRS releases 2016 auto/truck maximum FMVs for cents-per-mile valuation and fleet-average rule

Notice 2016-12, 2016-6 IRB IRS has released the 2016 maximum fair market values (FMVs) for employer-provided autos, trucks and vans, the personal use of which can be valued for fringe benefit purposes at the mileage allowance rate (54¢ per mile for 2016). It also has released the 2016 maximum fleet-average vehicle FMVs for autos, trucks […]

Read the full article →

Business and other standard mileage rates decrease for 2016

Business and other standard mileage rates decrease for 2016

Notice 2016-1, 2016-02 IRB; IR 2015-137 IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will decrease by 3.5¢ to 54¢ per mile for business travel after 2015. This rate can also be used by employers to provide tax-free reimbursements to employees who supply their […]

Read the full article →

Business Standard Mileage Rate Increases For 2015; Other Mileage Rates Decrease Slightly

Business Standard Mileage Rate Increases For 2015; Other Mileage Rates Decrease Slightly

Notice 2014-79, 2014-52 IRB; IR 2014-114 IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will increase by 1.5¢ to 57.5¢ per mile for business travel after 2014. This rate can also be used by employers to provide tax-free reimbursements to employees who supply their […]

Read the full article →

2015 Auto And Truck Maximum FMVs For Cents-Per-Mile And Fleet Average Valuation

2015 Auto And Truck Maximum FMVs For Cents-Per-Mile And Fleet Average Valuation

This article discusses the auto and truck fair market value limitations for the 2015 tax year under both the cents-per-mile method and the fleet-average valuation rule. Two figures remained at 2014 levels, while others rose slightly. Note: The 2015 standard mileage rate has not yet been announced by IRS. The 2014 standard mileage rate for business […]

Read the full article →

Depreciation dollar limits released for 2014 business autos, light trucks and vans

Depreciation dollar limits released for 2014 business autos, light trucks and vans

In Rev Proc 2014-21, 2014-11 IRB, IRS has released the inflation-adjusted Code Sec. 280F depreciation limits for business autos, light trucks and vans placed in service by the taxpayer in 2014, as well as the annual income inclusion amounts for such vehicles first leased in 2014. Depreciation deduction limits for 2014 are the same as […]

Read the full article →

2014 auto and truck maximum FMVs for cents-per-mile and fleet average valuation

2014 auto and truck maximum FMVs for cents-per-mile and fleet average valuation

Here are the calculations of the maximum fair market values (FMVs) for employer-provided autos, trucks and vans, the personal use of which can be valued for 2014 for fringe benefit purposes at the mileage allowance rate. Also set forth below is the calculation of the maximum FMVs for autos, trucks and vans for fleet average […]

Read the full article →

Standard mileage rates for business, medical & moving decrease 0.5¢ per mile for 2014

Standard mileage rates for business, medical & moving decrease 0.5¢ per mile for 2014

IRS has announced in Notice 2013-80, 2013-52 IRB; IR 2013-95 that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will decrease by 0.5¢ to 56¢ per mile for business travel after 2013. This rate can also be used by employers to reimburse tax-free under an accountable plan employees […]

Read the full article →
Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

Read More

Connect With Paul on Social Media

Practice Areas & Information

Certifications &
Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney