COPYRIGHTED MATERIAL Highlights of the New Tax Laws • The 50% bonus depreciation rule for 2013 allows providers to deduct 50% of the business portion of certain new items purchased in 2013. Qualifying items include furniture, appliances, office equipment, play equipment, and fences. For details, see chapter 3. • The standard meal allowance rates for 2013 are $1.27 for breakfast, $2.38 for lunch and supper, and $0.71 for snacks. For details, see chapter 4. • The standard mileage rate for 2013 is $0.565 per business mile. For details, see page 126. • The income eligibility limits for the Earned Income Credit have increased to $43,210 (for married couples filing jointly with one child) and $33,995 (if single with one child). For details, see page 135. • The income limits to qualify for the IRS Saver’s Credit have increased to $59,000 (adjusted gross income) for couples filing jointly; $44,250 for heads of household; and $29,500 for individuals or married people filing separately. For details, see page 136. • The new IRS Safe Harbor Rule allows providers to deduct up to $1,500 of their house expenses without receipts. However, this rule may not benefit most providers. See chapter 2. x COPYRIGHTED MATERIAL