Joni L. Craft, PA

Retirement Plan Information:
The Pension Protection Act of 2006 provided that a deceased employee's benefits in an employer-sponsored retirement plan which are passing to a nonspousal beneficiary may be directly transferred to an IRA, with the IRA treated as an inherited IRA of the nonspouse beneficiary. This allows the beneficiary to receive annual required minimum distributions under the inherited IRA distribution tables. Effective date is distributions after December 31, 2006.

Schedule A Itemized Deductions:
Donations — Cash contributions are no longer accepted as deduction unless you have a valid receipt for verification.

Hybrid Vehicle Credit:
Credits may be reduced depending on your adjusted gross income. Be sure to consult with your tax advisor before purchasing. http://www.irs.gov/newsroom/article/0,,id=157557,00.html

Gifts:
$13,000/year or $26,000/year if spouse agrees

Travel Expenses:
Per diem rates effective for October 1, 2008:

	High Cost areas	Low Cost areas
Combined rate (includes lodging, meals, incidentals)	$256	$158
Lodging only	$198	$113
Meals & Incidentals	$58	$45

Meals and incidentals remain unchanged from previous rates.