Why does a slight
tax increase cost you
two hundred dollars
and a substantial tax
cut save you thirty
cents?
~Peg Bracken
Kongs & Seib, P.A.
Certified Public Accountants
Rates, Figures and Other Miscellaneous Information
Key Rates and Figures
Standard business mileage rate:  55.5 cents per mile

Federal minimum wage:  $7.25 (effective July 24, 2009)

For minimum wage rates by state:  
click here

IRA contributions:  $5,000 (regular, subject to limits)
                          
       $1,000 (additional catch-up, must be 50
                                          or older by the end of the year)

Annual gift tax exclusion:  $13,000
Some Key Rates for 2012:
Other Information
IRS Recordkeeping for Individuals Publication
Record Keeping Information: