On Friday December 3, 2010, the Internal Revenue Service announced the 2011 optional standard mileage rates to be used for calculating the deductible costs of an automobile for business, charitable, medical or moving purposes. These are the rates used to determine the amount of an employee’s ordinary and necessary expenses of local travel or transportation away from home that may be reimbursed.
The 2011 rates are as follows:
- 51 cents per mile for business miles driven
- 19 cents per mile for medical or moving miles driven
- 14 cents per mile for miles driven in service of charitable organizations
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