After posting about mileage expenses yesterday, readers Lou and Cool Chick brought up how the government rate for mileage has gone up by $.08. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The rate will increase to 58.5 cents a mile for all business miles driven from July 1 through Dec. 31. Yippee. This government increase is better than the last government increase I covered.
Here’s the mileage info.