Monday, June 27, 2011

"We are taking this step so the reimbursement rate will be fair to taxpayers".... yeah, RIGHT

I remember keeping a notebook in the car and slavishly noting each professional mile driven. I remember the futile, mundane, degraded feeling it brought. But that was like 27 years ago!

I remember totaling up my 1040 and being so outraged by the bottom line that I knew, without even vowing or deciding anything, that this was not going to last indefinitely -- long time before I stumbled into the real world!

They play games on people. You can declare this and detract that, but only if you exceed this by no more than .5% of line 18 on your Schedule X, part H.

Enjoy your big-whoop "raise" to 55.5 "cents", all ye who are still paying.
You don't have to. We don't owe the money.

/\/.\/\/.


IRS Increases Mileage Rate to 55.5 Cents per Mile


IR-2011-69, June 23, 2011
WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes.

The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51.........

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