The IRS has released the 2010 optional standard mileage rates that employees, self-employed individuals and other taxpayers can use to compute deductible costs of operating automobiles (including vans, pickups and panel trucks) for business, medical, moving and charitable purposes.
The rates are as follows:
Business Mileage Rate:The standard mileage rate for business mileage in 2010 will be 50 cents per mile
Medical, Moving Mileage Rate: The standard mileage rate for medical and moving expenses will be 16.5 cents per mile.
Charitable Mileage Rate: The standard mileage rate for charitable purposes will remain at 14 cents per mile.
It seems these days "print" is out. So in keeping with the times our newsletters have been discountinuted and have been replaced by a blog. The blog will bring to you timely information on the latest tax laws, tax cases and other tidbits of information I feel will benefit you and your business.
This is a work in progress-there will be many improvement made over the next few weeks.
Be sure to become a follower of this page (click on "follow" link at the right of this page) to be notified of new posts. You can also find us on twitter and facebook so be sure to become a fan of our pages there too!