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Article Date:
September 2011


Word Count:
1592

 

 

Is the New IRS Mileage Rate a Rip-Off or Does It Improve Your Deductions?


Do you use the mileage rate to deduct your vehicle?

 

Why?

 

You think the IRS mileage rate is easier. That’s probably not true, as you will learn in this article.

 

You might think that the IRS mileage rate overcomes your lack of expense records. It doesn’t. Moreover, you probably have most of the expense records you need, as you will learn in this article.

 

You might think that the IRS mileage rate overcomes your lack of a mileage log. The standard mileage rate does not help you here. You need a mileage log with both the actual-expense and the IRS mileage-rate methods.

 

You might find that the mileage rate puts more cash in your pocket? Now that’s a valid reason to use the mileage rate—how do you know that you have more cash? We will give you big-time help with the cash answer in this article.

 

New 2011 Rate of 55.5 Cents

 

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