IRS Issues 2011 Mileage Rate Update

Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 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 standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Details from the IRS