IRS Updates for 2012

The IRS announced December 12th that the standard mileage rate used for businesses will stay at the current level of 55.5 cents per mile for 2012.

In addition, personal and dependency exemptions on the personal return will be worth $3,800 each, and each of the standard deductions moved slightly higher as well.  Also, the maximum amount of wages subject to Social Security taxes will move up $3,300, to $110,100 per person.

Debate continues to rage on extending the payroll tax holiday currently in place.  We’ll stay tuned to the latest coming out of Washington.

The Enemies of Productivity

We’ve all had days where we work very hard all day, but haven’t a clue at the end of the day what, exactly, it is we spent all that effort accomplishing.  The below article from BusinessWeek delves into 4 reasons for this phenomenon, and ways to combat each of them.