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January 11, 2011 / Jessica Connell

IRS Announces 2011 Standard Mileage Rates

Beginning January 1, 2011, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) became:

  • 51 cents per mile for business miles driven
  • 19 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

The new rates for business, medical, and moving purposes are slightly higher than last year’s. The business mileage rate was 50 cents in 2010. The medical and moving rate was 16.5 cents.

The mileage rates for 2011 reflect generally higher transportation costs compared to a year ago.

Let us know if you have questions about which driving activities you should monitor as tax year 2011 begins.

 

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