The IRS released on Friday the standard mileage rates for use in 2011 (Notice 2010-88). The optional standard mileage rates can be used by taxpayers to calculate the deductible costs of operating an automobile.
For business use of an automobile after Dec. 31, 2010, the rate is 51 cents a mile; for medical or moving expenses, 19 cents a mile; and for services to charitable organizations, 14 cents a mile. For tax year 2010, the rates were 50 cents, 16.5 cents and 14 cents, respectively.
Rather than using the standard mileage rates, taxpayers may instead use their actual costs, if they maintain adequate records and can substantiate their expenses. In Revenue Procedure 2010-51, also issued Friday, the IRS provides the rules for substantiating these amounts.
rest at http://www.journalofaccountancy.com/Web/20103621.htm
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