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    Standard Mile Rate

    48.5 Cents per mile.
    Does anybody know what this is made of?
    Depreciation is X cents
    gas is X center
    etc.
    Thanks

    #2
    Depreciation component

    PPC has listed the depreciation component of the standard mileage rate as 17cents for 2005 and refers to Rev Proc 2004-64.

    Sandy

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      #3
      Standard Mileage Rate

      Bjorn, According to Rev. Proc. 2004-64, basis for depreciation is reduced by 17 cents per mile for 2005, since the increases in Standard Mileage Rate in due to the recent run-up in gas prices. The IRS will probably not change the depreciation component for the rest of the year. Look for changes for 2006.

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