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dgkomatz
New York
8 Posts |
 Posted - 01/02/2010 : 5:36:14 PM
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I am a full time accountant with 37 years experience and also am a notary signing agent.
Complaining about lowering of the mileage rate is silly.
Keep in mind, if you were to add up all your gas receipts, insurance on your vehicle and repairs, you would most likely not have as much of a deduction as with the mileage rate.
The mileage rate has always been fair to say the least. Last year's rate were exceptional as they were in 2008.
Be happy you can use this deduction instead of adding up all your receipts.
If you like I have posted a worksheet for tax deductions specifically for notaries on my web site. You can download it here:
http://crossroadsacctg.bravehost.com/notaryworksheet.htm |
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crtowles
California
553 Posts |
Posted - 12/03/2009 : 2:18:09 PM
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This is not fair!!!! I would have thought that they would have raised it considering the state of things.
~Carmen |
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vince
Kansas
324 Posts |
Posted - 12/03/2009 : 1:50:55 PM
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Paul, will you be lowering your fees accordingly |
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PWinFL
Florida
469 Posts |
Posted - 12/03/2009 : 11:51:58 AM
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WASHINGTON — The Internal Revenue Service today issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
50 cents per mile for business miles driven
16.5 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
The new rates for business, medical and moving purposes are slightly lower than last year’s. The mileage rates for 2010 reflect generally lower transportation costs compared to a year ago.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Independent contractor Runzheimer International conducted the study.
A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
Revenue Procedure 2009-54 contains additional details regarding the standard mileage rates.
Never drive any faster than your guardian angel can fly.
I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.
Visit us online at http://www.PAWnotary.com |
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IRS Announces 2010 Standard Mileage Rates
