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News from the Reference Desk

Roads of Yesterday

Summertime in most areas of the United States heralds road construction season. But what was it like for automobile drivers 100 years ago? This video prepared by the Ford Motor Company shows how the Model T was built and what it was like to drive in those early days of the automobile age. Most roads were not paved and snow plowing was nonexistent. Mount Prospect entered the automobile age in full force when William Busse bought his first Buick automobile and eventually became a Buick dealer. Here is a c1920 photograph from the Mount Prospect Historical Society showing William and his son, Fred, with the family’s first automobile. Most of Mount Prospect’s roads were unpaved until the mid-1920s.

By MPPL on June 17, 2015 Categories: Auto, Travel

Summer Driving

The U.S. Department of Energy has a site for fuel economy information which many drivers may find helpful in saving money, finding the right car, and checking EPA ratings. Please take a look at www.fueleconomy.gov.

By Patricia Smolin on June 15, 2012 Categories: Auto, Consumer, Environment

Standard Mileage Rates

WASHINGTON: 12/3/10 — The Internal Revenue Service issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 51 cents per mile for business miles driven
  • 19 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Independent contractor Runzheimer International conducted the study.

A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

Revenue Procedure 2010-51 contains additional details regarding the standard mileage rates.

By MPPL on December 6, 2010 Categories: Auto, Business, Finance