See More: Industry Alerts

Industry Alerts

IRS Increases Mileage Rate to 55.5 Cents per Mile

Jun 28, 2011

In response to higher fuel prices, the IRS has increased the optional standard mileage rates for the last six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for all business miles effective July 1, 2011 through Dec. 31, 2011.

 

Amy is more than an auditor for CFED. She is a valuable business advisor helping us navigate through complex regulations and opaque guidance.

Adnan Bokhari |  Chief Financial Officer
The Corporation for Enterprise Development