Accounting and Tax Services
Nov 03

Standard mileage rate increases by 4¢ for 2007

IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) is 48.5¢ for business travel after 2006. That’s 4¢ more than the 44.5¢ allowance for 2006 business travel. This increase is due to higher prices for vehicles and fuel. Rev Proc 2006-49, 2006-47 IRB , IR 2006-168

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →