Welcome our guest blogger, Michael A Visco, EA, ATA - I am an accounting professional for over 30 years located in Phoenix, Arizona specializing in Personal and Corporation Accounting, Taxes, Estate Planning, Setting up of new Business, Bookkeeping, Finance, Management Advisory Services, and IRS Representation. I am currently servicing clients in the following states, NY,NJ,CT,FL,CA,CO,FL and AZ
The IRS is revising the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, or moving expense purposes and for determining the reimbursed amount of these expenses that is deemed substantiated. This modification results from recent increases in the price of fuel. The revised standard mileage rates are 55.5 cents per mile for business use of an automobile and 23.5 cents for use of an automobile as a medical or moving expense. The new rates were effective on July 1,2011
No comments:
Post a Comment