AUTO STANDARD MILEAGE RATES INCREASE JULY 1,2011BondBeebe
Jobe Dupre’, CPA
Due to increases in the price of fuel, the IRS announced today an increase in the optional standard mileage rates effective July 1,2011. The new standard mileage rates are 55.5 cents per mile for business use of an automobile and 23.5 cents per mile for medical or moving. The mileage rate for charitable miles is fixed by law and remains at 14 cents.