Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • HUMANITARIAN
    • TIRE MAKERS
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • MID YEAR REPORT
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
December 19, 2000 01:00 AM

IRS hiking car expense allowance to 34.5 cents per mile

Tire Business Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    ROCHESTER, Wis. (Dec. 19, 2000) — The Internal Revenue Service, effective Jan. 1, will begin allowing taxpayers to deduct 34.5 cents per mile for business-related auto expenses, according to Runzheimer International, a management consulting firm.

    The standard mileage rate is a national average used by taxpayers as a "safe harbor" in lieu of actual expense amounts, the Rochester-based company said. The previous rate allowed by the IRS was 32.5 cents.

    Runzheimer said it recommended the increased rate to the IRS largely on the basis of what it called "the dramatic climb in gasoline prices" over the past year.

    In calculating average per-mile expense, the company said it considered such variable costs as fuel, oil, tires and vehicle maintenance as well as fixed costs such as insurance, license and registration fees and depreciation.

    Adlore Chaudier, vice president of government services for Runzheimer, said modestly higher new vehicle prices and, therefore, somewhat greater annual depreciation costs, also were other driving forces behind the increase.

    In part, this is due to pickups and sport-utility vehicles continuing to gain a larger market share, while automobiles—especially subcompacts and compacts—continue to decrease proportionally, he said.

    "These vehicles typically cost more than your average passenger car, hence higher depreciation rates. They also are less fuel efficient, which also contributes to the impact of higher fuel prices," he added.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Tire Discounters grows again, adds Skip Cottrell's
    2
    Icahn-owned Auto Plus files for Chapter 11 protection
    3
    Truck sector leads U.S. tire market; consumer down
    4
    K&M welcomes dealers to annual conference in Vegas
    5
    Black's Tire Service holds leadership conference
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • HUMANITARIAN
      • TIRE MAKERS
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • MID YEAR REPORT
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION