Business Mileage

[Donanita]

Just heare that the business mileage for the last quarter of 05 will be raised to 48 cents. Has anyone else heard this. Checked IRS website but didn't see any info

[Unregistered]

web site

Ck Breaking News below and check this web site

http://www.irs.gov/newsroom/index.html

[Chief]

Mileage

It's 48.5 and medical is 22.0. See the web cite Brad posted on this Board or go to Updates at the top of this screen.

[Unregistered]

Just heare that the business mileage for the last quarter of 05 will be raised to 48 cents. Has anyone else heard this. Checked IRS website but didn't see any info

Would be nice if the IRS would figure out an average for the whole year, you know, for tax simplication. Oh well, probably will not happen.

[Armando Beaujolais]

Would be nice if the IRS would figure out an average for the whole year, you know, for tax simplication. Oh well, probably will not happen.

Aw, let's face it. With most of our clients, that's exactly what we do. We figure out an average of sort of around x number of miles.

I think it should work out about even. How far did you say it was to work?

[Lion]

Change in rate

It's actually the last third of this year and not the last quarter, as the IRS has made the new rate retroactive to 1 September 2005. Wish they'd made it retroactive to 1 January! I hated when they broke the year in two parts a couple of years ago. I have enough trouble getting my clients to track their mileage, but getting them to really keep it by date.... Don't you love the ones who tell you it's the same as last year?

[Unregistered]

Medical mileage

Would the medical mileage have to be computed like the auto mileage? 8 months at one rate and 4 months at a different rate?

[Lance Emerson]

Would the medical mileage have to be computed like the auto mileage? 8 months at one rate and 4 months at a different rate?

Yup. For medical, moving and charitable. Check out Updates.

[Chief]

Mileage

Charitable mileage has not been changed, only business, medical and moving.