The Internal Revenue Service releases deductible mileage rates each year. In case you haven’t heard, the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes:

Last week we looked at the new 3.8% Medicare Surtax that was ushered in as a result of the ObamaCare tax package that was passed in 2010.

Over a year ago in TTW#174, we provided an overview of the tax changes in the Patient Protection and Affordable Care Act (ObamaCare) which will impact your 2013 tax return. This is part one of a two part series that will take a look at three key changes in the tax code this year.

If you were legally married on 12/31/13, the IRS considers you married for the entire year of 2013.

Several months ago (TTW # 216) we discussed the ruling by the Department of the Treasury and the Internal Revenue Service that same-sex couples, legally married in states that recognize their marriage, will be treated as married for federal tax purposes.

Effective January 1, 2014, the Ohio minimum wage will increase by ten cents, from $7.85/hour to $7.95/hour. The Ohio minimum wage for tipped employees increased from $3.83/hour to $3.98/hour.