Standard Mileage Rates to Increase in 2006
On December 2, 2005, the Internal Revenue Service announced that the optional standard mileage rates would increase for next year.
Effective January 1, 2006 the mileage rates for the use of an automobile will be deductible as follows:
Business Miles: 44.5 cents per mile
Medical or Moving Miles: 18 cents per mileMiles driven in service of a charitable organization (not including miles related to Hurricane Katrina Relief): 14 cents per mile
Hurricane Katrina Related Miles: 32 cents per mile for deduction purposes & 44.5 cents per mile for reimbursement purposes.
CLICK HERE for more information on the use of the mileage rates!
Stayed tuned for the rates that you should use when filing your 2005 income taxes!
Effective January 1, 2006 the mileage rates for the use of an automobile will be deductible as follows:
Business Miles: 44.5 cents per mile
Medical or Moving Miles: 18 cents per mileMiles driven in service of a charitable organization (not including miles related to Hurricane Katrina Relief): 14 cents per mile
Hurricane Katrina Related Miles: 32 cents per mile for deduction purposes & 44.5 cents per mile for reimbursement purposes.
CLICK HERE for more information on the use of the mileage rates!
Stayed tuned for the rates that you should use when filing your 2005 income taxes!
posted by Mama Arika at 3:01 PM
0 Comments:
Post a Comment
<< Home