2011 Standard Mileage Rate changed

The standard mileage rate is a set rate per mile you can use to deduct your car expenses. This rate is different for different driving expenses. If your company reimbursed you for travel expense at a rate lower than what the IRS allows, you can still claim a deduction for the difference.

For 2011, the standard mileage rate for business travel is 51 cents a miles before July 1, 2011 and 55.5 cents per miles driven after June 30, 2011. See the table below for different rates.

For miles driven from 1/1/11 to 6/30/11:            
Business                                 51 cents                                                
Moving and medical                19 cents
Charity                                    14 cents
                                                               
For miles driven from 7/1/11 to 12/31/11:
Business travel                       55.5 cents
Moving and medical                23.5 cents
Charity                                    14   cents