Standard Mileage Rate Increase - July 1, 2011

Business standard mileage rate as of July 1, 2011 increases to 55.5¢ per mile.

IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) is 55.5¢ per mile for business travel after June 30, 2011. That's 4.5¢ up from the 51¢ allowance for business travel for January 1 through June 30, 2011.

Further, the rate for using a car to get medical care or in connection with a move that qualifies for the moving expense deduction is 23.5¢ per mile, up 4.5¢ from the 19¢ per mile allowance for January 1 through June 30, 2011.

The mileage rate for driving an auto for charitable use will remain unchanged at 14¢ per mile (a statutory rate that's not adjusted for inflation).

Mileage Rate Changes:

Purpose	2010	as of 1/1/2011	as of 7/1/2011
Business	50 cents	51 cents	55.5 cents
Medical/Moving	16.5 cents	19 cents	23.5 cents
Charitable	14 cents	14 cents	14 cents

Posted: June 2011

Bassman, Laserow & Company, PC
350 Sentry Parkway East
Building 630, Suite 200
Blue Bell, PA 19422
voice: 215-628-0420
fax: 215-628-3461
email: Bassman, Laserow
print: driving directions