2007-05-24 09:15:29 · 7 answers · asked by Joe M 1 in Business & Finance ➔ Taxes ➔ United States
If your talking about the mileage deduction rate, it's unlikely. They generally set that rate for a year at a time. For 2007, the rate is .485. However, in 2005 they did increase the rate in September as a result of the drastic increase in the price of gas. I believe gas will need to go up significantly more before they consider an increase before 1/1/08.
2007-05-24 10:49:16 · answer #1 · answered by BS 3 · 2⤊ 0⤋
we've been blessed is all i'm able to assert. i'm aggravating approximately something. The republicans goofed up and allowed the democrats to take the senate and living house and that replaced into 2 years in the past. Now seem at what is going on. gas extra desirable than doubled and actually no longer something taht i comprehend of. venture is, could desire to the rustic stand having a democratic president additionally and for 4 extra years additionally do no longer drag race as lots and altered the ports from 92s to 77s. we relatively prefer somebody to step as much as the plate. Too undesirable others don't have the flexibility, yet that's how that's. Hat's off to the democrats, stick to it and confirm no person drills for oil or something and tax the heck out of oil inventory and all those wealthy people who could desire to force autos. take care.
2016-11-26 23:56:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
They set a mileage deduction rate every year. Average gas price is one of the factors they consider when they set the rate, but there is no direct relationship. They did make a mid year adjustment in 2005. As far as I can find, they have not made a similar adjustment since that time.
2007-05-24 10:56:01 · answer #3 · answered by STEVEN F 7 · 0⤊ 1⤋
If you are referring to the business mileage deduction, they have raised the rate from 44.5 cents per mile to 48.5 cents per mile.
Other mileage related deductible increases include charitable and medical also. See link provided below:
2007-05-24 10:43:29 · answer #4 · answered by Country Boy 5 · 1⤊ 0⤋
You don't get reimbursed. You may qualify for a mileage deduction on your income taxes. Go to IRS.gov for the latest mileage deduction allowance.
2007-05-24 09:19:55 · answer #5 · answered by regerugged 7 · 0⤊ 1⤋
no who told you that its a luxury to beable to get the oppertounity to buy oil you should be thanking them.
2007-05-24 09:18:54 · answer #6 · answered by Anonymous · 0⤊ 1⤋
unlikely they want to keep it
2007-05-24 09:18:22 · answer #7 · answered by myladybeau 3 · 0⤊ 0⤋