• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Get more tax mileage from your car

by on
in Small Business Tax

Do you use the standard mileage rate to deduct your business vehicle expenses in lieu of accounting for every actual expense you incur?

The IRS recently announced that the standard rate for 2011 was increasing, but by just a penny, to 51 cents per business mile for 2011. (IRS Notice 2010-88) Tolls and parking fees for business-related travel can be added on to the total.

Also, the standard rate for the medical and job-related moving deductions for 2011 has been hiked by 2.5 cents to 19 cents per mile. But the standard rate for charitable deductions remains at 14 cents per mile.

Note: The rate for charitable driving is set by Congress, not the IRS.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/17552/get-more-tax-mileage-from-your-car "

Related Articles...

    No matches

Leave a Comment