IRS boosts mileage deduction rate

The IRS announced Friday that it was responding to the high price of gasoline by raising the mileage rate for business-expense deductions. Effective September 1st, the rate jumps from 40.5 cents a mile to 48.5 cents a mile. The lower rate still applies to travel through August 31. At last, good news from the IRS! Read more here.

By s.waterman@p1data.com
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The IRS announced Friday that it was responding to the high price of gasoline by raising the mileage rate for
business-expense deductions.

Effective September 1st, the rate jumps from 40.5 cents a mile to 48.5 cents a mile. The lower rate still applies to
travel through August 31.

At last, good news from the IRS! Read more
here.