Mileage RatesIRS Standard Mileage Tax Deduction Rates for 2011
2011 Rate Business: 51 cents per mile through June 30/ 55 cents per mile beginning July 1 Medical/Moving: 19 cents per mile Charitable: 14 cents per mile Congress Releases New Analysis on Charitable Mileage Tax Deduction and Reimbursement RateOn January 25, 2010, the Congressional Research Service released a Report analyzing the current volunteer mileage rate tax deduction law and four legislative proposals dealing with the statutory rate (14 cents per mile) which taxpayers can deduct if they drive their own vehicle for charitable purposes. The report addresses three questions for Congress to consider: whether the rate should be set by statute or by the IRS; where that rate should be set in relation to the higher deduction rates for business use and for medical or moving use of vehicles; and whether mileage expenses reimbursed by the charity should be treated more favorably than unreimbursed expenses. CRS Report R40434, Charitable Standard Mileage Rate: Considerations for the 111th Congress, by Nonna A. Noto | Calculating the value of volunteerismAccording to Independent Sector, the estimated dollar value of volunteer time for 2010 is $21.36 per hour. They provide state-by-state statistics. |
