Standard Mile Rate

[Bjorn]

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

[S T]

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

[Gene V]

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.