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Taxi Service Or App?; IRS- New Mileage Reimbursement Rates

Taxi Service Or “Just An App”

Taxi companies and car service drivers have been fighting for survival against mobile phone app-driven “ride sharing/ride-hailing” businesses such as Uber, Lyft, and Sidecar. In Washington, D.C., a Teamsters local representing taxi drivers challenged legislation that authorized the operation in the city of Uber and Lyft. The Teamsters’ efforts included a protest that involved several hundred cab drivers’ blocking intersections in the center of the city. But to no avail: the City Council went ahead and approved the companies for operation.

Meanwhile, legal battles over regulation of Uber, Lyft, and Sidecar continue across the country. The companies claim that they are “just an app” that facilitates transactions between willing drivers and riders. But the basic business model, relying on drivers who are classified as independent contractors, is under assault on several fronts. Governments want to regulate and tax the businesses as taxi or limousine services…

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Source: Lexology

IRS Issues New Mileage Reimbursement Rates For 2015

The Internal Revenue Service today issued the 2015 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, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

  • 57.5 cents per mile for business miles driven, up from 56 cents in 2014
  • 23 cents per mile driven for medical or moving purposes, down half a cent from 2014
  • 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, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil. The charitable rate is set by law.

Taxpayers always have the option of claiming deductions based on the actual costs of using a vehicle rather than the standard mileage rates.

A taxpayer may not use the business standard mileage rate for a vehicle after claiming accelerated depreciation, including the Section 179 expense deduction, on that vehicle. Likewise, the standard rate is not available to fleet owners (more than four vehicles used simultaneously). Details on these and other special rules are in Revenue Procedure 2010-51, the instructions to Form 1040 and various online IRS publications including Publication 17, Your Federal Income Tax.

Besides the standard mileage rates, Notice 2014-79, posted today on, also includes the basis reduction amounts for those choosing the business standard mileage rate, as well as the maximum standard automobile cost that may be used in computing an allowance under a fixed and variable rate plan.

See the original article here.
Source: Internal Revenue Service


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