Ashlea Ebeling blogged about the new tax advantage for small business owners that goes into effect July 1, 2011. http://blogs.forbes.com/ashleaebeling/2011/06/24/irs-helps-taxpayers-with-high-gas-prices/
The mileage rate for business purposes is 55.5 cents a mile, up from 51 cents a mile during the first half of 2011. The mileage rate for medical and moving expenses is 23.5 cents a mile, up from 19 cents a mile during the first half of 2011. The last time the IRS put in a mid-year increase was in 2008, when the business mileage rates went from 50.5 cents a mile to 58.5 cents a mile, and the rate for medical and moving purposes went from 19 cents a mile to 27 cents a mile.
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