IRS RAISES RATE TO DEDUCE MILLAJE COSTS

By
Real Estate Agent with U.S. Cuven Realty
www.terra.com
Date of the news: 02-Noviembre-2006
Date of impression: 26-Noviembre-2006

Terra USA/AP
The Service of Collection of Taxes, reflecting the increasing cost of the gasoline and vehicles, is raising the standard rate of millaje that is used to calculate the deductible costs of handling for commercial intentions.

02/Nov./2006. - The federal agency indicated Wednesday that from the 1 of January of 2007, the new rate will be 48.5 cents by mile for distances handled for commercial reasons.

That is the same rate of 48.5 cents that prevailed temporarily during the last months of 2005, when the prices of the gasoline raised due to the passage of the Katrina hurricane. During 2006, this rate was 44.5 cents by mile.

The rate to calculate the medical deductible expenses or of change in 2007 will be of 20 cents by mile, 2 cents more than in 2006.

The rate for the people who deduce the costs of trip related to charitable services, that the Congress establishes, will continue being of 14 cents by mile.

The IRS says that the standard rates of millaje by commercial, medical reasons and of change they are based on annual of the variable costs and fixed studies of the operative vehicles, including the prices of purchase and gasoline costs.

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Rainmaker
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Ann Cummings
Portsmouth NH Homes - Service With a Smile!
RE/MAX By The Bay - NH and Maine

Thanks, Alejandro, for this information!  I didn't realize they had made that change for next year.

Ann Cummings

November 26, 2006 06:40 PM
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