On December 3, 2010, the Internal Revenue Service issued the 2011 optional standard mileage rates to calculate deductible costs of operating an automobile for business purposes.
Beginning January 1, 2011 the standard mileage for the use of a car will be:
• 51 cents per miles for business miles driven
• 19 cents per miles driven for medical or moving purposes
• 14 cents per mile driven in service of charitable organizations.
For further information you can go to the IRS announcement.
Other key information for 2011
Colorado Minimum Wage increase to $7.36
401K Limits (401B & 457 B) – $16,500
$5,500 catch-up contribution for those over 50 years old
HSA – $3,050.00 Employee Only limit per year
$6,150.00 Family limit per year
$1,000.00 Catch-up contribution for those over 55 years old
For more information on Benefit Packages Available, please contact StaffScapes 303-466-7864.