G&G Associates: 2017 Standard Mileage Rates Announced

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G&G Associates Tax & Financial Consulting

e-Newsletter

Tax Tip of the Week

 2017 Standard Mileage Rates For Business,
Medical and Charity Announced

Imhotep (Wisdom to You) G&G Readers,

WASHINGTON — The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 53.5 cents per mile for business miles driven, down from 54 cents for 2016
• 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016
• 14 cents per mile driven in service of charitable organizations

If you need a great tool to use to track your mileage, I started using an app after meeting the company at this years IRS conference that works with my smart phone called MileIQ.  The app automatically logs your business and personal drives and I love it!  MileIQ is the #1 mileage tracking app, trusted by hundreds of thousands of users every day!

You can try it for free and get a 20% discount when you upgrade by clicking HERE:

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Internal Sponsorship:

G&G TAX PREPARATION SERVICES

G & G Associates is a Black-Owned Business focused on easing our client's minds on tax compliance matters. With the ever changing and burdensome tax code, overwhelming and confusing federal and state tax forms and increasing IRS scrutiny over most tax items, taxpayers need to have at least this one part of their lives made easier, less stressful and more profitable.

Our expert help includes our:

In-Depth Interview — a thorough and complete experience designed to unearth every tax savings opportunity during the course of your tax preparation. We use these to the latest IRS guidelines to guide you through a painless, interactive session so that together, we catch every single detail that results in more tax savings for you.

We can service clients anywhere in the world and we look forward to assisting you in getting your tax return prepared for the 2016 and beyond tax season. (Referrals available upon request)

If you are a returning client you'll get a 25% discount off your tax preparation fees. If you are a new client you'll get $40 off our normal fees. If you are active duty or retired military you'll get a 15% discount. If you are a senior citizen (above 65) you'll get a 20% discount.

At G&G Associates, we GUARANTEE to beat "ANY" other tax professional’s price. We take pride in not nickeling and diming our customers with unnecessary charges & fees.

Do you have a friend, co-worker or family member who might be interested in G&G Associates Tax Preparation Services? If so, then you can earn $40 for everyone you refer that files their tax returns with us. Just refer that person, and when we complete their tax return we will send you a check for $40. To make the deal even sweeter, after (4) four referrals you will get your taxes done for free.

We are looking forward to doing business with you for the upcoming tax season.

For more information about G&G Associates, visit our website at www.gngassociates.net

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The business mileage rate decreased half a cent per mile and the medical and moving expense rates each dropped 2 cents per mile from 2016. The charitable rate is set by statute and remains unchanged.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously.



One of the benefits of being a client with G&G Associates is that you'll get a free 30 min pre-tax preparation session to make sure you are gathering your documents appropriately before you submit your documents for tax preparation.

So, contact us today to schedule an appointment.

Visit our website for more information and free online webinar classes to help you make sure you are audit proofing your records, or contact us today to set your appointment if you need a “TAX” OR “FINANCIAL” one-on-one consultation.

Until the next time!

Tuau (Thank You Much),
Asar Maa Ra Gray
Tax, Financial & Veteran Services Consultant
G&G Associates
757-271-6068 office
866-361-3872 toll free fax
www.gngassociates.net

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**You must be a G&G Associates tax or veteran services client to receive the $40 referral fee and 25% preferred client discount.

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