Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
Falling prices of oil and the impact on the global and domestic economy (Peter Morici, Al Jazeera) Collapsing oil prices have driven gasoline prices for regular under $2 a gallon in 13 states. While this is a windfall to airllines, travelers and consumers in general, it has an economic cost yo others, notably oil producers and their suppliers. Peter Morici, an economist at the University of Maryland, discusses the economic gains and losses on Al Jazeera TV.
2015 Standard Mileage Rates (IRS Notice 2014-79)
Kelly Phillips, Forbes, explains why the mileage rates appear to be inconsistent. It’s because different formulas are prescribed by law for each driving category:
Note: Taxpayers have the option of deducting actual expenses rather than the mileage rates allowed. In many cases the extra work involved in record keeping and accounting is more than an additional tax deduction would make worthwhile.
Articles about events, conflicts and disease around the world
Ferguson and Related News
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