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IRS Mileage Rate 2011, 2012

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Uploaded by on Jun 27, 2010

IRS Mileage Rate 2011, 2012
http://www.harborfinancialonline.com

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  • I have receipts for my gas, I own a transportation company so I have multiple receipts accountable for each of those fill ups. If I have gas receipts totaling $8,349 and each tank takes me 320 miles, is it reasonable to conclude the following equation. $8,349 / 50 <---- cost per fill up. ----------- 166.98 x 320 <---- milage per tank ------------ 53,433.60 x $.50 <---- business deduction. ------------ $26,716.80 Thanks -Joe Garcia
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