You may think the IRS 2011 mileage rate doesn’t apply to you because you don’t drive your car for your company. There are a few intricacies of the tax rules that aren’t widely known, so it’s worth finding out what they are in case you can save money on your 2011 taxes. Here are a few things hardly anyone knows about the IRS mileaage rate:
If You Drive Anywhere For Medical Care, its’ Deductible
Let’s say you drive a few times a week for dialysis. Well those miles are deductible at the IRS 2011 mileage rate, which is 19 cents per mile. So if you drive round trip thirty miles twice a week, that’s 60 miles per week.
60 miles = $11.40
$11.40 x 52 weeks = $592.80
You can deduct $592.80 off your tax income and it has nothing to do with work. How may people out there are driving themselves or a dependent to medical care every week and don’t know about the IRS 2011 mileage rate? What’s nice about it also is that the IRS 201o mileage rate was only $16.5 per mile. The increase for 2011 was a pretty big jump.
On top of that, you can also deduct the tolls and parking for those trips.