Posted by John Tennant on 6/23/11 11:19am
Msg #387400

Good News.

I just received notice that the IRS is increasing the business mileage allowance to 55.5 cents per mile. This takes effect July 1, 2011 and runs through the end of the year.

In addition, medical /moving rate to 23.5 cents. The charity rate stays at 14 cents per mile.

The new rates are contained in Announcement 2011-40 on the optional standard mileage rates.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

Reply by Susan Fischer on 6/23/11 11:50am
Msg #387404

Thanks, John. n/m

Reply by jba/fl on 6/23/11 12:09pm
Msg #387406

"The charity rate stays at 14 cents per mile."

That is the rate you use for the lowballers. LOL

Reply by Linda_H/FL on 6/23/11 12:10pm
Msg #387407

ROFL Julie...:) n/m

Reply by Shoshana/AZ on 6/23/11 12:53pm
Msg #387409

That was TOO FUNNY!

I needed that Julie.

Reply by GWest on 6/23/11 2:58pm
Msg #387421

Best LOL I've had in awhile! Still laughing n/m

Reply by topflyt on 6/23/11 12:24pm
Msg #387408

What charity rate?

Reply by jba/fl on 6/23/11 1:38pm
Msg #387410

Your mileage going to and from charity work, etc.

Reply by SharonH/OH on 6/23/11 7:41pm
Msg #387481

Thanks, John! I LOVE this forum!