What are the current rates of federal and state payroll taxes? What
other rates and limits apply this year? |
|
Payroll |
Rates and instructions as of January 1, 2008, are listed in our
Payroll
Guide. Call us to check for any changes.
|
|
Mileage |
For the year beginning July 1, 2008 the allowable mileage rate
for business travel is 58.5 cents per mile. |
|
SEC 179 |
Fixed assets purchased which may be expensed in the year acquired is
$108,000 for years beginning after December 31, 2004. This credit reverts
to $25,000 for years beginning after
December 31, 2009. |
|
Social Security
|
Social Security recipients can earn $12,960 in
2007 and $13,560 in 2008 if under your full retirement age. |
Highest NM
Individual IncomeTax Rates |
| 2005 |
2006 |
2007 |
2008 |
| |
|
|
|
| 5.7% |
5.8% |
5.3% |
4.9% |
|
|
NM Capital Gains Excluded from Tax |
| 2005 |
2006 |
2007 |
2008 |
| |
|
|
|
| 30.0% |
40.0% |
50.0% |
50.0% |
|
Where can I download tax forms? |
|
Forms |
Federal forms
New Mexico forms |
Where is the New Mexico Society of Certified Public Accountants
website? |
|
NMCPA |
http://www.nmcpa.org/default.htm |
Where are your offices? |
|
See
map |
We are on the East side of
San Pedro, 2 blocks North of Paseo Del Norte in the Paseo Nuevo Office Complex in Albuquerque.
From I-25, take the Paseo Del Norte exit and turn East on Paseo Del Norte to
San Pedro, then turn North, go two blocks and turn East on Carmel; the entrance to the
parking lot is on the right. |
