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 This Week in the iNews:

▲ IRS Increases Mileage Rates through Dec. 31, 2008

▲ TECH TIP WEEKLY: Cleaning Windows XP: Taming Web Cache Files: Part 2

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▲ IRS Increases Mileage Rates through Dec. 31, 2008

The Internal Revenue Service has announced an increase in the optional standard mileage rates for the final six months of 2008. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

The rate will increase to 58.5 cents a mile for all business miles driven from July 1, 2008, through Dec. 31, 2008. This is an increase of eight (8) cents from the 50.5 cent rate in effect for the first six months of 2008.

In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2008. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.

While gasoline is a significant factor in the mileage figure, other items enter into the calculation of mileage rates, such as depreciation and insurance and other fixed and variable costs.

The optional business standard mileage rate is used to compute the deductible costs of operating an automobile for business use in lieu of tracking actual costs. This rate is also used as a benchmark by the federal government and many businesses to reimburse their employees for mileage.

The new six-month rate for computing deductible medical or moving expenses will also increase by eight (8) cents to 27 cents a mile, up from 19 cents for the first six months of 2008. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

Mileage Rate Changes

Purpose	Rates 1/1 through 6/30/08	Rates 7/1 through 12/31/08
Business	50.5	58.5
Medical/Moving	19	27
Charitable	14	14

▲ TECH TIP WEEKLY: Cleaning Windows XP: Taming Web Cache Files: Part 2

PART TWO – CLEANING CACHE

 

If you use Internet Explorer, cleaning out the cache is relatively easy.  You can do it in a couple of different ways, but when you have the browser open, follow these steps:

 

1. Choose Tools - Internet Options

 

IE displays the Internet Options dialog box.

 

2. On the General tab, click the Delete … button in the Browsing history section.

 

You now see a selection of types of cache that you can delete.  Choose what you want to delete by clicking the appropriate Delete _____ … button, or click Delete all … button to do that.  Before anything gets deleted, a warning dialog box offers you a last chance to say No, otherwise click Yes.

 

IE deletes the selected cache files.  Depending on how cluttered your system is, this might take a while.

 

3. When IE is done deleting cache files, click Close and click OK to close the Internet Options dialog box.

 

NEXT TIME: PART THREE – FINDING AND CHANGING CACHE SIZE