The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
On Friday, the IRS published their standard mileage rates for 2011. These rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical and moving purposes.
The 2011 rates are:
The business rate is one cent higher than in 2010, the moving and medical rate is up 2.5 cents and the charitable rate remains unchanged.
This rate is effective with mileage incurred on or after January 1, 2011.
No comments have been posted to this Blog Post