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2011 Standard Mileage Rate Changes

2011 Standard Mileage Rate

2011 Standard Mileage Rate

The Internal Revenue Service (IRS) has increased the optional standard mileage rates for 2011. These optional rates can be used to calculate deductible costs of operating an automobile for either business or other uses instead of reporting actual travel-related costs. Charitable mileage rates remain at the current 14 cents a mile in 2011.  The table below summarizes the increases for this year.

IRS Standard Mileage Rates in 2011
Jan 1 – June 30 July 1 – Dec 31
Business 51 cents 55.5 cents
Medical/Moving 19 cents 23.5 cents
Charitable 14 cents 14 cents

From the IRS Newsroom IR-2011-69, June 23, 2011

Consult a qualified tax preparer.

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