What is Depreciation?

Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration, or obsolescence of the property. Most types of tangible property (except, land), such as buildings, machinery, vehicles, furniture, and equipment are depreciable. Likewise, certain […]

2010 Standard Mileage Rates

Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) are: 50 cents per mile for business miles driven 16.5 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations Read more

Earned Income Credit

Many Wisconsin residents miss out on this valuable credit. Do you qualify? Earned Income Credit Link: http://www.revenue.wi.gov/faqs/ise/ei… Department of Revenue website: http://www.revenue.wi.gov Transcript: don’t miss out on extra cash the Wisconsin earned income credit is a tax benefit for working families and to give you a larger refund you may call if I F he […]

Wisconsin Homestead Credit

A valuable tax credit for Wisconsin residents. Homestead Credit FAQs: http://www.revenue.wi.gov/faqs/ise/home.html E-filing with Homestead Credit: http://www.revenue.wi.gov/eserv/hcfiling.html Homestead instructions: http://www.revenue.wi.gov/forms/2010/10i-016a.pdf Department of Revenue website: http://www.revenue.wi.gov E-Mail box for questions: [email protected] Transcript: Do you qualify for the Homestead Credit? It pays to find out. You could get up to $1,168 if You are at least 18 years […]