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IRS INCREASES DEDUCTIBLE FOR BUSINESS
USE OF CAR
The Internal Revenue Service (IRS) has announced a six percent increase
in the deductible rate for business use of a car, rising from 32.5
cents a mile this year to 34.5 cents next year.
The rate for using a car for medical errands goes from 12 cents
to 13 cents and for charity use remains at 14 cents. The main reason
for the increase was a boost in gasoline prices.
EXISTING HOME SALES RISE
Rebounding after a dismal September, the housing market saw sales
of existing homes rising 5.5 percent in October, easily beating
the consensus of economists. All regions experienced gains, ranging
from 10 percent in the Northeast to just two percent in the West.
Housing has been a big, bright star in an otherwise murky economic
sky. Housing-related expenditures add up to $1 trillion of the $10
trillion annual U.S. economy.
ADVERTISE ON TV?
It’s a tough decision many retailers have to make: whether
to advertise on local and cable television. The prospects seem good:
Currently eight of 10 households have at least two TV sets. However,
advertisers will find their store ads in the thick of myriad appeals
with 25 percent of households now receiving 80 channels or more.
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