2004 Standard Mileage Rates Set — 800,000 More Businesses Eligible to Use New Rates
Beginning Jan. 1, 2004, the standard mileage rates for the use of a car(including vans, pickups, or panel trucks) will be 37.5 cents a mile for all business miles driven, up from 36 cents a mile in 2003; there are different rates for medical, moving or mileage related to charitable services.
Taxpayers who use no more than four vehicles at the same time for business purposes may use the standard mileage rate, starting in 2004. Currently,those using more than one vehicle at a time cannot use the standard rate at all, leaving them to track the actual expenses for each vehicle.
“With this change, more than 800,000 businesses will become eligible to use the standard mileage rate,” said IRS Commissioner Mark W. Everson.“This reflects our ongoing interest in reducing the burden for businesses to comply with the tax laws.”
AS FOR THE PER DIEM, IT HAS BEEN RAISED A BUCK FOR EACH STARTING JAN, 1 2004 $41.00 IN THE U.S., AND $46.00 CANADA & MEXICO IF YOU GO THERE. 2003 RATES ARE $40.00 U.S, AND $45.00 CANADA
All updated tax information is recieved and copied with permission from my member associations listed below
NATIONAL ASSOCIATION OF TAX PROFESSIONALS (NATP)1998
THE NATIONAL SOCIETY OF ACCOUNTANTS (NSA) 2002
REDLEAF NATIONAL INSTITUTE OF CHILDCARE PROVIDERS (RNI) 1999
OWNER OPERATOR INDEPENTANT DRIVERS ASSOCIATION (OOIDA)2003
NATIONAL FEDERATION OF INDEPENDENT BUSINESSES (NFIB)2001
Franklin Katz
Frank's Tax & Business Service
226 Cherokee St.
Kings Mountain, NC 28086
(704) 739-4039
Fax: (704) 739-3934
Beginning Jan. 1, 2004, the standard mileage rates for the use of a car(including vans, pickups, or panel trucks) will be 37.5 cents a mile for all business miles driven, up from 36 cents a mile in 2003; there are different rates for medical, moving or mileage related to charitable services.
Taxpayers who use no more than four vehicles at the same time for business purposes may use the standard mileage rate, starting in 2004. Currently,those using more than one vehicle at a time cannot use the standard rate at all, leaving them to track the actual expenses for each vehicle.
“With this change, more than 800,000 businesses will become eligible to use the standard mileage rate,” said IRS Commissioner Mark W. Everson.“This reflects our ongoing interest in reducing the burden for businesses to comply with the tax laws.”
AS FOR THE PER DIEM, IT HAS BEEN RAISED A BUCK FOR EACH STARTING JAN, 1 2004 $41.00 IN THE U.S., AND $46.00 CANADA & MEXICO IF YOU GO THERE. 2003 RATES ARE $40.00 U.S, AND $45.00 CANADA
All updated tax information is recieved and copied with permission from my member associations listed below
NATIONAL ASSOCIATION OF TAX PROFESSIONALS (NATP)1998
THE NATIONAL SOCIETY OF ACCOUNTANTS (NSA) 2002
REDLEAF NATIONAL INSTITUTE OF CHILDCARE PROVIDERS (RNI) 1999
OWNER OPERATOR INDEPENTANT DRIVERS ASSOCIATION (OOIDA)2003
NATIONAL FEDERATION OF INDEPENDENT BUSINESSES (NFIB)2001
Franklin Katz
Frank's Tax & Business Service
226 Cherokee St.
Kings Mountain, NC 28086
(704) 739-4039
Fax: (704) 739-3934