question.jpgIn Federal Income Tax

What is the 2006 standard mileage rate for business use of a vehicle?

If you are not claiming the actual operating costs for using your vehicle for business, you can instead simply use the IRS standard mileage rate. For 2006, this means you can claim a deduction 44.5 cents for every mile. It should be noted that at the time of this publication, there was a possibility that Congress would increase the rate for the later part of 2006, so if you using the standard mileage rate, be sure to check up-to-date tax information.