MATC Matters

The Internal Revenue Service has issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business. 

The standard mileage rates for use of a vehicle this year has dropped slightly to 55 cents per mile for business miles driven (from a previous rate of 58.5 cents per mile). 

The mileage rates for 2009 reflect generally higher transportation costs compared to a year ago, but the rates also factor in the recent reversal of rising gasoline prices. While gasoline is a significant factor in the mileage rate, other fixed and variable costs, such as depreciation, are also considered.

Because MATC follows the Federal Government IRS rulings, reimbursement for MATC business miles will now be paid at 55 cents per mile. The new rate is incorporated into the MATC Expense Report which can be found on the Financial Resources website.

Questions?
Contact Sherrie Orcholski at 608-258-2335.