Miscellaneous Changes
Roth 401(k). As of 2006, a Roth 401(k) option can be included in a 401(k) retirement plan. This is now a permanent option. Roth contributions are made after-tax instead of pre-tax, but distributions are tax-free. Employers may want to consider offering this option in their plan for their employees.
New Mileage Rate (January 1, 2012). The standard mileage rate beginning January 1, 2012 is: 55.5 cents per mile for business miles driven, 23 cents per mile for medical or moving purposes, and remains 14 cents per mile driven in service or charitable organizations.
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7/1-12/31/08
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1/1/09
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1/1/10
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1/1-6/30/11
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7/1-12/31/11
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1/1/12
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|
|---|---|---|---|---|---|---|
|
Business
|
$0.585
|
$0.55
|
$0.50
|
$0.51
|
$0.555
|
$0.555
|
|
Medical/Moving
|
$0.27
|
$0.24
|
$0.165
|
$0.19
|
$0.235
|
$0.23
|
|
Charitable
|
$0.14
|
$0.14
|
$0.14
|
$0.14
|
$0.14
|
$0.14
|