IRS Releases 2011 Mileage Rates

The IRS released the mileage allowance rates for business travel.

For 2011, the rate for using a vehicle in connection with business, the rate is $.51 per mile, an increase of $.01 from 2010 rates. The mileage deduction is meant to replace the following expenses: lease payments or depreciation, maintenance, repairs, tires, gas, oil, insurance, license and registration fees. You may still claim separate deductions for parking fees and tolls.

There are instances where you may not use the standard mileage rate. Please contact a tax professional for more details.

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Matthew O'Brien

With over 20 years of experience in the digital media world, Matthew has worked for and with Fortune 500 businesses and has built companies from the start-up stage to exit strategy. He recently helped develop a data insight engine to bridge the gap between search, social, and mobile marketing to maximize the visibility, relevancy, and predictive success of online businesses.

Matthew is the founder of MINT Social, an award-winning digital marketing company that accelerates online marketing results to help businesses get found and thrive online. 

Matthew has developed an educational curriculum for Universities on social media for businesses, is a founding board member of the Arizona Innovation Marketing Association (AZIMA), a board member of HeroZona Foundation and on the advisory board (Vinnies) for St. Vincent de Paul - Phoenix.  Matthew is a mentor with ASU Entrepreneurship and Innovation Group, a speaker on social media and digital marketing, and is a subject matter expert with many online portals.

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