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RSS By: Paul Neiffer, Top Producer

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.

IRS Announces 2011 Standard Mileage Rates

Dec 06, 2010

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:

  • 51 cents per mile for business miles driven
  • 14 cents per mile for charitable purposes
  • 19 cents per mile for moving and medical reasons

 

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.

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