IRS Releases 2011 Mileage Rates

            The IRS recently released the standard mileage rates for business mileage, as well as mileage driven to obtain medical treatment during 2011. The business rate will be $.51, while the medical mileage rate will be $.19. Both of these are increased over 2010.

            This release is a great reminder to be sure to track your mileage during the year for business, medical, and charitable purposes. The recommended way to do this is through a mileage log, as the IRS has been placing more importance on the documentation of mileage during audits.