Mileage rates up
The Internal Revenue Service announced this week 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 through Dec. 31, 2008. This is an increase of 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.
YORK -- The Downtown York Farmers Market runs Saturday mornings through October on North Congress Street in York.
The market offers everything from homemade soaps and local honey to fresh eggs, crafts, organic pet products, herbs and more. Vendor space is free.
For more information on participating as a vendor, call Curry at (704) 299-2322 or Jim Dickerson at 684-4225 or e-mail firstname.lastname@example.org.
Also, check out the market blog spotlight at www.yorkfarmersmarket.blogspot.com.
Furniture store opens at Lake Wylie
LAKE WYLIE -- A popular Tega Cay-area furniture store is now open for business in Lake Wylie. Piece By Piece Furniture, specializing in case goods, upholstery, art, furniture samples and more, opened its second store Friday at 4078 Charlotte Hwy. A formal grand opening is still being scheduled.
"We're just excited to be there, and we're ready to go," said co-owner Jeannie Hensley.
Store hours are from 10 a.m. to 6 p.m. Tuesday through Saturday, except on Wednesdays, when hours are 10 a.m. to 5 p.m.
The store will follow the same model used by Hensley and Lynn Williams at their 2615 Hwy. 160 W. store near Tega Cay. For more, call (803) 548-3540.
-- Lake Wylie Pilot