Interested in where your sales tax goes when you make a retail or food purchase? The Illinois Tax Rate Finder tracks the breakdown of state, county, and municipal taxes for all cities and towns in Illinois. Additional definitions for what specific taxes mean are in their online glossary.
News from the Reference Desk
Job hunters will no doubt benefit from taking a good look at The Career Gateway: Job Seekers Guide, produced by JVS Chicago. Jewish Vocational Service crafted an easily searchable online tool which directs job seekers to accomplish steps they need in their search. Excercises are simple to follow, but essential in identifying contacts, giving realistic advice and encouragement to network with confidence. There are helpful guides to develop writing and computer skills, prepare for phone and in-person interviews, personal budgeting, and sample scripts to start conversations with potential hiring managers.
While The Career Gateway is an excellent job site, it by no means takes the place for the personal service and consultation offered by JVS. They have convenient locations and professional career guidance staff to help job hunters from all levels. Their main office is at 216 West Jackson Blvd., Suite 700, Chicago, IL 60606. Please call or email for an appointment: firstname.lastname@example.org or (312) 673-3400.
The Village of Mount Prospect is seeking new businesses – with a focus on retail and restaurants. The Village is teaming up with the Mount Prospect Chamber of Commerce, Small Business Development Center, Mount Prospect Downtown Merchants Association and the Mount Prospect Public Library to help new businesses get established in Mount Prospect by providing a package of innovative economic development resources. Tools to help ensure business success in Mount Prospect – education, mentoring, marketing opportunities and contact with successful existing business owners – will be available through this program.
The groups are holding an information session for potential new business owners – an “Entrepreneur’s Café” – on Tuesday, January 24, at 9 a.m., at Canta Napoli Restaurant, 90 E. Busse Ave., Mount Prospect.
At this kickoff session Bonnie Richter, Director of Illinois Small Business Development at Harper College, will review the steps for launching a new business, explain where to look for funding sources, provide business plan templates, and address common issues faced by owners looking to start a new venture. The Village will then introduce its initiative to help ensure your success here in Mount Prospect. With the assistance of the Mount Prospect Chamber of Commerce, Downtown Merchants Association, and the Library, the Village has put together a package of innovative economic development resources that include education, mentoring, and marketing opportunities. There are also financial incentives for businesses interested in a downtown location.
For more information or to RSVP for the January 24 event, contact Clare O’Shea at 847/818-5312 or email@example.com.
Participate in this online class right from your desk over your lunch hour.
Learn the basics about the layout of the new American Factfinder Census Data Tool. This webinar will focus on where to find demographic and economic data about geographies of your choosing, which will help make informed decisions when it comes to starting or managing a small business.
This program is free and open to all. Registration is required. Register online or by telephone at 224-543-1485. Email address required. After registering you will receive an email containing information about joining the webinar approximately one week prior to the event.
Presented by the US Census Bureau for the Vernon Area Public Library.
The Mount Prospect Fire Department offers ways to keep local businesses and their employees safe in our community. Assistance with emergency planning and preparedness kit for your Mount Prospect business is available at no cost. Please contact the Fire Prevention Bureau at 847-818-5252 for more details on programs
WASHINGTON: 12/3/10 — The Internal Revenue Service issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 51 cents per mile for business miles driven
- 19 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Independent contractor Runzheimer International conducted the study.
A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
Revenue Procedure 2010-51 contains additional details regarding the standard mileage rates.
The state's Treasurer's office has a new program called Employ Illinois, a plan to spark growth in businesses interested in expanding and creating new jobs by receiving qualified reduced interest rate loans . Please visit http://www.treasurer.il.gov/programs/employ-illinois/business-owners.aspx for more details and steps to take to apply for low interest loans. You may also email firstname.lastname@example.org or call (312) 814-8953 or (217) 782-2072 to ask about terms and the application process.
Small business and tax-exempt organizations which meet certain criteria may now qualify for a special tax credit when they provide health insurance coverage to their employees.
Details on this part of the Patient Protection and Affordable Care Act are available at the IRS site.
This is National Small Business Week, which honors the 27.2 million U.S. small businesses as contributors to the economy and hiring forces for jobs. Events are hosting in Washington D.C, however you can participate through the NSBW webcast to view keynote speeches, programs and discussions.