Welcome to the ViewAndSearch.com Blog

2011-06-25 11:05:24
IRS Raises Gas Mileage Tax Deduction

In a rare midyear move, the Internal Revenue Service is increasing the tax deduction you can take for using personal vehicles for business.

On July 1, if you use your personal vehicle for business, you’ll be able to deduct 55 cents a mile from your taxable income. That marks a 4-cent increase from the beginning of this year.

While the IRS normally updates mileage rates once a year during the fall for the next calendar year, the tax agency decided to raise the gas mileage tax deduction earlier due to high gas prices. (The average gas price currently is $3.61 a gallon, which is up from $2.74 last year, according to AAA.)

'This year's increased gas prices are having a major impact on individual Americans,” IRS Commissioner Doug Shulman told USA Today. “The IRS is adjusting the standard mileage rates to better reflect the recent increase in gas prices. We are taking this step so the reimbursement rate will be fair to taxpayers.'

Source: “IRS Increases Gas Mileage Deduction at Midyear,” USA Today (June 23, 2011)

Provided by,

Doug Spiers / Associate Broker 

Global Choice Real Estate
1436 South Legend Hills Drive Suite 314
Clearfield, Utah 84015

Direct (801) 726-7173

Email DougSpiers@aol.com 

www.ViewAndSearch.com

'The highest compliment I can receive is the referral of your friends, family and business associates. Thank you for your trust and confidence.'

 
Blog Archive
2017-10-13 11:57:01
4 Reasons to Sell This Fall

2016-05-06 07:23:41
Best Long-Term Investment

2016-02-02 16:49:28
No Matter Which Groundhog You Listen To...

2016-01-29 14:35:49
Existing Home Sales Bounce Back

2015-12-09 08:46:15
Real Estate News You Need to Know Wed. 12/9/15

2015-12-03 08:11:23
2016 Home Prices and Rates?

2015-10-16 10:43:16
2016 Home Prices?

2015-10-15 12:27:38
Rental Repairs?

2015-10-15 12:24:39
Millennials?

2015-10-13 07:15:49
New Home Sales Surge

2015-10-07 10:35:23
30-Year Fixed Mortgage Rates Fall to 5-Month Low;

2015-07-29 07:20:05
What you need to know today.

2015-07-22 13:45:39
Rates Today July 22,2015

2015-01-08 07:32:51
Mortgage Rates Hit 19-Month Low

2014-12-24 10:04:16
30-Year Fixed Mortgage Rate Up From 19-Month Low;

2014-09-02 18:21:41
30-Year Fixed Mortgage Rates Drop

2014-08-31 08:55:58
Housing Market Looking Up

2014-08-22 21:25:38
US housing recovery appears to be back on track

2014-07-08 08:16:44
4 in 10 US households use cellphones only

2014-06-30 12:51:26
Pending Home Sales Surge 6.1%

2014-04-29 18:07:58
Pending Home Sales 4/28/14

2013-11-14 12:56:43
30-year-mortgage rate rises to 4.35%

2013-11-13 07:58:25
Fewer Late On Mortgage Payments = Housing Strength

2013-05-02 15:12:13
Home prices along Utah's Wasatch Front

2013-04-12 15:14:02
Salt Lake housing market looks for spring rebound

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.