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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.

 

Michael Shaffer and Jackie Cardello are confident and know what we are trying to accomplish … They are a wealth of knowledge. They ask the right questions and make us think outside the box to find the best solution.

Barbara Vinesette |  Chief Financial Officer
Integrated Laboratory Systems