Article Date:
December 2008


Word Count:
180

 

 

2009 IRS Standard Mileage Rates Released


The IRS has issued the 2009 standard mileage rates that self-employed taxpayers and employees may use for deductions in the use of business cars, vans, pickups, and panel trucks.1

 

Corporations may not use the standard rates to make deductions for vehicles that the corporation owns or leases.2

 

On the other hand, corporations may use standard mileage rates to reimburse employees (including owner-employees) who use their personal cars for corporate business.3

 

In other words, if the corporation owns the vehicle, it may not ... Log in to view full article.

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