Q: Fuel prices here in California or going crazy! What is the business mileage rate this year? AB, California
A: On December 3, the business mileage rate was increased to 51 cents per mile, up from 50 cents per mile. Not much of an increase, but if fuel prices surge to $4 or more per gallon as some people project, I would expect a mid-year mileage price hike. But . . . don't quote me on that & don't hold your breath!
I'm off to a tax seminar for the day. Will look forward to passing on any useful information for your RV lifestyle.