Welcome to 2019! It’s that time again; January is a good time to go through your recurring expenses and make adjustments as needed. In addition to the increase in the minimum wage rate for 2019, the standard business mileage rate deduction has also increased.

Effective 1/1/2019, the new rate is 58 cents per mile, up from 54.5 cents in 2018. Take advantage of these pennies. They add up to significant savings at year-end.

See the following link for more info:

https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2019

https://www.mass.gov/news/ag-healey-advises-public-about-2019-minimum-wage-increase