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What's New For Your 1996 Return...

-- Tax-free tuition reimbursement permitted up to $5,250
-- Business auto mileage allowance increased to 31 cents per mile
-- Personal exemptions for dependents increased to $2,550, up from $2,500
-- Home-office deduction expanded to include inventory storage
-- No dependency exemption allowed without a Social Security number
-- Reduction of itemized deductions begins at $117,950, up from $114,700

Updated June 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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