“Success is peace of mind, which is a direct result of self-satisfaction in knowing you made the effort to do your best to become the best that you are capable of becoming.” – John Wooden                                   1-800-743-2006   Lake Ozark     Tipton     California A progressive CPA firm serving Lake of the Ozarks                                                     Client Login Login: Password:   Tipton Office                California Office                Lake Ozark Office 607 Highway 50 W          101 E Madison St               754 Bagnell Dam Blvd Ste A Tipton, MO  65081          California, MO 65018           Lake Ozark, MO 65049 Phone (660) 433-2006      Phone (573) 796-8182           Phone (573) 365-9400 Fax (660) 433-2107        Fax (573) 796-4002             Fax (573) 365-9596   2011 Young Farmer Income Tax Update   Bobby Medlin CPA featured on AccountingEDU.org     Congratulations to our associate, Haley Homan, for obtaining her CPA license!   Fall 2011 Tax & Business Newsletter      Tax Strategies Information Station    AgriLegacy 2011 information                             June 24, 2011 – Mileage Rates Updated Mid-Year           The IRS has updated the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical or moving expense purposes and for determining the reimbursed amount of these expenses that is deemed substantiated. This modification results from recent increases in the price of fuel.   The revised standard mileage rates are 55.5 cents per mile for business use of an automobile and 23.5 cents for use of an automobile as a medical or moving expense. The mileage rate for use of an automobile as a charitable contribution is fixed by statute and remains 14 cents. The revised standard mileage rates apply to deductible transportation expenses paid or incurred for business, medical, or moving expense purposes on or after July 1, 2011, and to mileage allowances that are paid both (1) to an employee on or after July 1, 2011, and (2) for transportation expenses an employee pays or incurs on or after July 1, 2011.         Congress Repeals 1099 Requirements    Senate Repeals 1099 Amendment   Tax Relief Job Creation Act of 2010      Bobby Medlin, CPA is one of Central Missouri's leading full service accounting firms.  Whether it be tax preparation and planning or payroll and accounting services, put our 24 years of experience serving businesses and individuals in the Central Missouri area to work for you.      Come visit us today at one of our three locations in Tipton, California, or Lake Ozark and let us prove to you that we are dedicated to helping you or your business "keep more of what you make".