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  1. #1
    Join Date
    Aug 2001
    Location
    forney texas
    Posts
    17,827

    Increaswe in Entitlement, where's the outrage

    Looks like taxpayers will be paying people about 2.00 a gallon plus free gas

    http://www.newsmax.com/US/US-IRS-Gas...6/23/id/401143

    If your personal vehicle only get 11 miles to a gallon, then it adds up to a free gallon of gas plus about 1.65 in tax deductions.

    I guess when the cash is rolling in, one will not complain

  2. #2
    Join Date
    Apr 2007
    Location
    Kaufman county, Texas
    Posts
    9,680
    Quote Originally Posted by acmanko View Post
    Looks like taxpayers will be paying people about 2.00 a gallon plus free gas

    http://www.newsmax.com/US/US-IRS-Gas...6/23/id/401143

    If your personal vehicle only get 11 miles to a gallon, then it adds up to a free gallon of gas plus about 1.65 in tax deductions.

    I guess when the cash is rolling in, one will not complain
    Not an entitlement, a tax deduction. Last time it was .50&, year before was .55$. Not a huge change.

    It is indeed a huge tax deduction. I may not understand the math very well but I know my mileage makes a huge difference on my income tax bill. 20k miles is nothing, so that is about 10k in deduction? Almost pays to drive around in circles at that rate. And I do, although not to save on my taxes, I am usually just lost.
    "You boys are really making this thing harder than it has to be". Me

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  3. #3
    Join Date
    Nov 2001
    Location
    Seattle, WA
    Posts
    7,711
    I don't understand you post. This increase in business mileage is for business purposes only and not for the general public.

    The business still must pay for the cost of gas but does get to deduct it two ways at the end of the taxable year. And that is what this article is all about.
    "The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
    - Alexis de Toqueville, 1835

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