IRS Tax Mileage Rate for 2011, 2012

Does your company often send you driving to far away locations, all around the state and maybe even farther?

Those long business trips may be boring and tedious, but there is a bright side to them: you may be able to claim the IRS mileage rate tax deduction. For every mile you drive for your business, you get to deduct a certain amount of money; so if you do a lot of driving for your job, you’ll have a nice chunk of cash coming your way for your troubles.

How Much is the IRS Tax Mileage Rate Per Mile?

In the year of 2011, for every mile you drive for your business you can deduct $0.51. This is an increase of one penny compared to last year, but a five cent drop compared to year before, which was supposedly made for by the lower cost of travel these days.

There Are Different Mileage Rates For Different Driving Purposes

It’s 19 cents per mile for medical or moving purposes (yes, the five is half a cent) and 14 cents per mile for charitable purposes: driving to make a donation or driving for a charitable company.

You should always be sure to check the mileage rate every January as it is changed every year. There are also certain conditions regarding the medical, moving and charitable mileage tax deductions that must be present before you can take these tax deductions. A great place to learn more about the mileage tax deduction and others is TurboTax Online. You could also file your tax return there after some simple and easy questions.

You can learn more about the IRS tax mileage rate by using the support tab at the web site of TurboTax. Just click on the support tab and type in, IRS tax mileage rate, and hit enter. You will find tons of information about the standard mileage tax deduction and the actual vehicle expenses choice for tax deduction purposes. Discover today which method would be most advantageous for you!

So, the next time you’re stuck on the highway for your job, remember the IRS Mileage Tax Deduction and maybe it will be a little more enjoyable. Get the money you deserve at TurboTax Online.