The YARDI Guy
STOLEN FROM THE WEB SITE OF
LogicbuiltManage-ITPLUS may be FOR YOU!
2007 - VACATION SCHEDULE - 2007
MAY 28 - JUNE 1 (including Memorial Day)
JULY 2 - 6 (including Independence Day)
AUGUST 6 - 10 (subject to ECMHS and family reunions)
SEPTEMBER 3 - 7 (including Labor Day)
NEW NOTE: IRS FINALLY FIGURED IT OUT - HIGH GAS PRICES ARE HERE TO STAY
OLD NOTE: MILEAGE RATE FALLS TO 44.5 CENTS PER MILE ON JANUARY 1, 2006
IRS raises mileage rate on higher gas prices
Fri Sep 9, 3:16 PM ET
WASHINGTON (Reuters) - The U.S.Internal Revenue Service on Friday increased a mileage rate used to compute the deductible costs of operating an automobile for business due to the sharp rise in gasoline prices.
It also delayed setting the 2006 rate, saying gas prices may decline before the start of the new year.
"This is about fairness for taxpayers," said IRS Commissioner Mark Everson. "People are entitled to deduct the real cost of operating a vehicle. We've responded to the recent gas price increases by making this special adjustment so taxpayers get the tax benefit they deserve."
The tax-collecting agency boosted the optional standard mileage rate to 48.5 cents a mile for all business miles driven in the last four months of 2005, up 8 cents from the rate used so far this year.
The optional business standard mileage rate is used to compute the deductible costs of operating an automobile for business use in lieu of the extra burden of tracking actual costs. This rate is also used as a benchmark by the U.S. Government and some businesses to reimburse employees for mileage.
The IRS normally updates mileage rates once a year in the fall for the next calendar year. But it said it would delay setting the 2006 rate until nearer to January because gas prices could decline over the next few months.
Gas prices have soared above $3 a gallon and far higher in some places because of a sudden drop in supplies following Hurricane Katrina.
Sorry, folks, but the IRS is usually a day late and a dollar short on these adjustments, so I'm usually paying higher fuel costs well before I pass them along to you. When 40.5 cents per mile was set late last year for 2005, unleaded was somewhere between $1.65 and $1.75 per gallon, but gas prices were at or above $2.00 per gallon most, if not all, of this year. If and when the IRS lowers the rate, I will do the same. However, if and when the IRS again RAISES the rate...well...you know.
(866) FAX ZECK now rings into my regular number.
1 or 2 faxes per month did not justify the cost of a second line.
Eventually, I may drop the facade of a separate toll-free fax number.
I cannot even imagine losing (866) TED ZECK!
The YARDI Guy "BROWN" Ground Service Area
Thinking of migrating to Genesis?
Here's an honest answer that may (WILL) get me into trouble!!!
Call me today at (866) TED ZECKto get on my Schedule & make some News!