Focus on others

The best way to maximize your influence and at the same time improve your own situation is to forget about yourself and focus on others. In uncertain times, people tend to withdraw but will always appreciate attention shown to them.

When you focus on others, you will help them to transform their negatives into positives and they in turn will be grateful and helpful to you. This contribution will assist them and will shine back on you as well.

To illustrate this theory, think about how the holiday season tends to bring out the best in people and think about how good you feel when you give a little extra.

12/31/09 Tax Deadline

IRS Reminds Car Shoppers about Tax Break: The IRS reminded car shoppers that they have until 12/31/09 to take advantage of a tax break that may not be around in 2010. Individuals who buy a qualifying new vehicle (which includes new passenger autos, light trucks, motorcycles, and motor homes) can deduct the state or local sales or excise taxes they paid on the first $49,500 of the purchase price. This break is available whether the buyer itemizes deductions or claims the standard deduction, but is reduced for joint filers with modified adjusted gross incomes (MAGI) between $250,000–$260,000 and other taxpayers with MAGI between $125,000–$135,000. News Release IR-2009-119 .

2010 Standard Mileage Rates

Beginning 1/1/10, the standard mileage rates for using a vehicle (including an auto, van, pickup, or panel truck) will be 50 cents per mile for business purposes, 16.5 cents per mile for medical or moving purposes, and 14 cents per mile for charitable purposes. The standard mileage rates for 2010 reflect lower transportation costs, so the new rates are slightly lower than last year’s rates. A taxpayer using the business mileage rate treats 23 cents per mile as depreciation in 2010.  However, a taxpayer cannot use the business mileage rate in certain situations (such as for vehicles used for hire, or five or more vehicles used simultaneously) or if the vehicle was previously depreciated using a method other than straight-line (such as MACRS, the Section 179 deduction, or bonus depreciation).
News Release IR-2009-111 and Rev. Proc. 2009-54, 2009-51 IRB .