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2011 Mileage Tax Deduction Another Reason To Itemize
You want to know the 2011 IRS Mileage Tax Deduction rates because you do a lot of driving for your job or business, right?
Well, we hope so! With the allowable Federal Mileage Reimbursement Rate for 2011, get back every penny you can for every single mile you drive, in the allowable categories.
"Few of us ever test our powers of deduction, except when filling out an income tax form." ~Laurence J. Peter, Author (www.IRS.gov)
Below is the Government Mileage Rate for 2011, as well as the Gas Mileage Rates for 2010 for each qualifying group.
The IRS issues this information each year to calculate deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Effective January 1st, 2011, standard rates for the use of a car, van, pickup or panel truck will be higher than 2010 for business, medical and moving purposes and the same as 2010 for miles you drive for charitable organizations. Due to gasoline price increases during 2011, there were also significant increases in these rates, effective July 1 through December 31, 2011. See the charts for both 2011 and 2010 below:
Look for a Mileage Logger Device called "Gisteq Tripbook" through Amazon.com.
It's a cool, relatively inexpensive GPS device you plug in to your car lighter to log your miles.
It also has some good reviews from people who say it's really helped them log miles without having to keep a manual log book.
2011 Mileage Tax Deduction Rates
Amounts Below Are For Miles Driven In 2011.
IRS Amount Jan 1st - Jun 30
IRS Amount Jul 1st - Dec 31
Purpose
.51 Cents Per Mile
55.5 Cents Per Mile
For Business Miles You've Driven
19 Cents Per Mile
23.5 Cents Per Mile
For Medical or Moving Purposes
14 Cents Per Mile
14 Cents Per Mile
Driven In Service Of Charitable Organizations
To be better prepared for next year's tax filing, if you need a convenient and easy-to-use - but good old fashioned MILEAGE LOGGER, the one below offers one of the best compact formats available.
2010 Mileage Tax Deduction Rate
Amounts Below Are For Miles Driven In 2010.
IRS Amount
Purpose
50 Cents Per Mile
For Business Miles You've Driven
16.5 Cents Per Mile
For Medical or Moving Purposes
14 Cents Per Mile
Driven In Service Of Charitable Organizations.
IRS Reimbursement Rates Prior To 2010
The IRS has and more detailed and related information from 2009 all the way back to 1997 available on their website if you need this information for any reason.
You want to know the 2011 IRS Mileage Tax Deduction rates because you do a lot of driving for your job or business, right?
