Effective July 1, 2011, IRS Increases Mileage Rate to 55.5 Cents per Mile

By |2021-01-28T20:58:04-06:00June 24th, 2011|Blog|

The Internal Revenue Service has announced an increase in the optional standard mileage rates for the final 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 [...]