IRS Increases Mileage Rates

June 28, 2011

Dear Client, 
  We wanted to alert you that the IRS has announced that the standard mileage rates will increase as of this Friday, July 1, 2011. Therefore, for your record keeping purposes, there will be two different mileage rates for 2011. The first rate will be for miles traveled from January 1 - June 30 and the second for miles traveled from July 1 - December 31. If you keep track of miles for your business you'll want to take note of how many you traveled during the first 6 months of the year versus the 2nd half of the year.
Mileage Rates for 2011

 

 

Purpose

 

  Rates 1/1 through 6/30/11 

  

  Rates 7/1 through 12/31/11 

Business

$.51

$.555

 Medical/Moving    

$.19

$.235

Charitable

$.14

$.14

SUV

Please contact us with any questions you may have regarding the mileage rate changes.

Firm Signature

Soukup, Bush & Associates, PC 
(970) 223-2727
www.soukupbush.com