Tax Tips
Standard Mileage Rates
The 2011 rate for business use of your vehicle is increased to 51 cents a mile for Jan. 1st to Jun. 30th and 55 cents a mile for Jul. 1st through Dec. 31st.
Special Note:
The IRS has increased the number of audits for taxpayers claiming business deductions. It's extremely important to have a mileage log or all deductions could be disallowed.
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