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| From Blog Comix |
Archive for June 23rd, 2011
It’s going to be a bumpy ride…
Posted by taxguru on June 23, 2011
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IRS Increases Standard Mileage Rate As of July 1
Posted by taxguru on June 23, 2011
Because the chances of fuel prices going back down to where they were at the beginning of the year are so slim, IRS has take the rare approach of modifying its standard mileage rates mid-year in the following news release.
IRS Increases Mileage Rate to 55.5 Cents per Mile
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| From Tax Info |
It’s unlikely that the 4.5 cents per mile increase will be enough to cover the actual higher fuel costs incurred by most people, so it’s even more important to keep track of actual vehicle expenses.
This is only going to get worse if 0Bambi and his fellow travelers succeed in their plans to make gas cost eight to ten dollars per gallon.
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Tax Guru - Ker$tetter Letter 