Accounting, Bookkeeping, and QuickBooks Tips for Small Businesses

Posts tagged IRS

IRS Increases 2011 Mileage Reimbursement Rate

IRS Increases 2011 Mileage Rate

Effective July 1st, 2011, the optional standard mileage rate is being increased to 55.5 cents/mile. This new rate will be in place from July 1st, 2011 through December 31st, 2011. Typically the IRS only increases the optional standard mileage rate once a year, but decided to help tax payers with the increased cost of gasoline.

For the first 6 moths of the year (January 1st – June 30th, 2011), the optional standard mileage rate will stay at the the previous 51 cents/mile rate.

The medical/moving mileage rate also increased to 23.5 cents/mile for the last 6 months of the year.

The rate for providing services for charitable organizations did not increase. The reason being the rate for providing services to charitable organizations is set by statute, not the IRS. The standard mileage rate for providing services for charitable organizations will remain at 14 cents/mile.

For additional information, please see IRS Announcement 2011-40.

Michelle Edwards, CPA - QuickBooks Consultant Written by Michelle Edwards, CPA
Certified QuickBooks ProAdvisor

Michelle is the owner of Trailhead Accounting Solutions CPA, LLC, an Erie, CO based CPA firm focused on providing small and mid-sized businesses with day-to-day accounting, bookkeeping, and business solutions. Michelle is a CFO turned consultant who loves working with small businesses and entrepreneurs. When she’s not crunching numbers, she can be found hiking, remote camping, gardening, quilting, and hanging out with her family.

Tax Day Extended to April 18, 2011

Arvind Balaraman /

Have troubles getting your taxes filed by April 15th? You’re in luck, this year the IRS is extending tax day until Monday, April 18th, 2011.

The reason? Washington D.C. will be celebrating Emancipation Day on Friday, April 15th. Emancipation Day is a holiday observed by Washington D.C. in honor of freeing the salves in the district. Per the US Tax Code, filing deadlines can not fall over the weekend or on holidays. Therefore, the tax due date is is extended until April 18th.

Enjoy the extra few days to file your taxes this year!

Image: Arvind Balaraman |