| BUSINESSWEEK ONLINE : JANUARY 29, 2001 ISSUE | |||||
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| BUSINESSWEEK INVESTOR
New Rules for 2001 -- You must pay more Social Security, or FICA tax: 15.3% of your earnings up to $80,400, compared with $76,200 in 2000 -- The business mileage deduction goes up to 34.5 cents per mile from 32.5 cents -- The Section 179 deduction for certain business property (such as computers) increases to $24,000 from $20,000 -- If your income exceeds $150,000, you must pay estimated taxes equal to 90% of your expected tax for 2001 or 110% (compared with 108.6% in 2000) of your 2000 tax, whichever is smaller _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
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