The Juice: A Little Something Extra for your morning
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A little auto tax relief
High gas prices are having such an impact on America's wallets that the IRS is stepping in to help you out. The agency is raising the automobile mileage rate that businesses can claim on their taxes. For the last six months of this year, the standard rate to calculate deductible operating costs for business vehicles will increase from a little over 50 cents to a little over 58 cents. The IRS also plans to increase deductible medical or moving expenses from 19 cents to 27 cents a mile.
Posted on June 24, 2008 5:59 AM PT | Permalink
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