Posted by PAW on 12/3/09 1:46pm
Msg #312987
IRS Announces 2010 Standard Mileage Rates
WASHINGTON — The Internal Revenue Service today issued the 2010 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, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
50 cents per mile for business miles driven
16.5 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
The new rates for business, medical and moving purposes are slightly lower than last year’s. The mileage rates for 2010 reflect generally lower transportation costs compared to a year ago.
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 2009-54 contains additional details regarding the standard mileage rates.
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Reply by Cari on 12/3/09 3:21pm
Msg #312998
we lost a whole cent! n/m
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Reply by parkerc/ME on 12/3/09 4:03pm
Msg #313007
Re: We lost 5 cents! n/m
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Reply by Cari on 12/3/09 4:10pm
Msg #313008
oh...I thought the mileage for this year was .51 cents....
whups...its been a long time since I claimed mileage..can u tell..he he
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Reply by parkerc/ME on 12/3/09 4:18pm
Msg #313011
Re: It's .55 for 2009
It's .55 for 2009
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Reply by MW/VA on 12/3/09 4:18pm
Msg #313010
I paid $2.48/gal today, so they must be kidding!
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Reply by Linda_H/FL on 12/3/09 4:26pm
Msg #313012
Our gas is up to $2.75/gal from $2.69 two days ago!! n/m
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Reply by parkerc/ME on 12/3/09 4:31pm
Msg #313014
Re: Our gas is up to $2.75/gal from $2.69 two days ago!!
Nice to know, Linda. I'm driving down for the holidays. Guess I'll crank some more into the FL Gas envelope!
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Reply by Linda_H/FL on 12/3/09 4:33pm
Msg #313015
LOL...whereabouts you going? n/m
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Reply by parkerc/ME on 12/3/09 4:37pm
Msg #313017
Melbourne/Palm Bay/Micco to visit sister n/m
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Reply by Linda_H/FL on 12/3/09 4:38pm
Msg #313019
Ahh..okay...I'm over on the I75 side - up near GA n/m
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Reply by AKDave on 12/4/09 1:37pm
Msg #313120
Re: Our gas is up to $2.75/gal from $2.69 two days ago!!
Still better than suburban Alaska, 3.70 a gallon or $4.00 for diesel. hasnt dropped below 3.50 in nearly two years.
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