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THE IRS ANNOUNCED YESTERDAY THE NEW MILEAGE RATE BEGINNING JANUARY 1, 2002.
THE STANDARD MILEAGE RATE FOR 2001 IS $ 34.5 CENTS PER MILE, AND STARTING ON THE FIRST OF THE YEAR 2002 IT WILL BE INCREASED TO 36.5 CENTS PER MILE FOR ALL BUSINESS MILES.
THE STANDARD MILEAGE RATE FOR SERVICES TO CHARITY REMAINS AT 14 CENTS PER MILE.
THE STANDARD MILEAGE RATE FOR MEDICAL REASONS FOR 2001 IS 12 CENTS PER MILE AND WILL INCREASE TO 13 CPM ON JAN. 1, 2002
AND IF YOU HAVE A MOVING EXPENSE DEDUCTION IT WILL INCREASE TO 13 CENTS PER MILE UP 1 CENT FROM 2001, 12 CPM
THE REASON FOR THE INCREASE WAS GIVEN AS THE RISE IN GASOLINE PRICE THIS PAST YEAR.
I STILL AM NOT SURE AS TO WHAT WILL BE THE PER DIEM RATE FOR LOGGED DAYS OUT AS YET BUT WHAT I AM HEARING IS THAT THE RATE IS GOING UP TO $40.00 PER DAY IN THE US AND $ 44.00 IN CANADA, INSTEAD OF $38.00 AND $42.00 RESPECTIVELY.
FOR YOUR INFORMATION GIVEN BY
FRANK'S TAX & BUSINESS SERVICES
308 E. KING ST
KINGS MOUNTAIN, NC 28086
(704) 739-4039
E-MAIL- [email protected]
Web Site- www.1040.com/frankstax
THE IRS ANNOUNCED YESTERDAY THE NEW MILEAGE RATE BEGINNING JANUARY 1, 2002.
THE STANDARD MILEAGE RATE FOR 2001 IS $ 34.5 CENTS PER MILE, AND STARTING ON THE FIRST OF THE YEAR 2002 IT WILL BE INCREASED TO 36.5 CENTS PER MILE FOR ALL BUSINESS MILES.
THE STANDARD MILEAGE RATE FOR SERVICES TO CHARITY REMAINS AT 14 CENTS PER MILE.
THE STANDARD MILEAGE RATE FOR MEDICAL REASONS FOR 2001 IS 12 CENTS PER MILE AND WILL INCREASE TO 13 CPM ON JAN. 1, 2002
AND IF YOU HAVE A MOVING EXPENSE DEDUCTION IT WILL INCREASE TO 13 CENTS PER MILE UP 1 CENT FROM 2001, 12 CPM
THE REASON FOR THE INCREASE WAS GIVEN AS THE RISE IN GASOLINE PRICE THIS PAST YEAR.
I STILL AM NOT SURE AS TO WHAT WILL BE THE PER DIEM RATE FOR LOGGED DAYS OUT AS YET BUT WHAT I AM HEARING IS THAT THE RATE IS GOING UP TO $40.00 PER DAY IN THE US AND $ 44.00 IN CANADA, INSTEAD OF $38.00 AND $42.00 RESPECTIVELY.
FOR YOUR INFORMATION GIVEN BY
FRANK'S TAX & BUSINESS SERVICES
308 E. KING ST
KINGS MOUNTAIN, NC 28086
(704) 739-4039
E-MAIL- [email protected]
Web Site- www.1040.com/frankstax