The new gas mileage reimbursement rate and how it applies to business vehicles and fuel effiicient options for tax credits

The gas mileage reimbursement rate has been raised to 58.5 cents a mile for the last six months of 2008, as announced by the Internal Revenue Service. The increase, says the IRS, was meant to alleviate the impact of rising gas prices on the income of American taxpayers and vehicle owners and drivers. The new optional rate will replace the old 50.5 rate used prior to the announcement.

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How to Determine the Fair Market Value of a Car, Boat or RV Donated to Charity

Although the laws were changed in 2005 to reduce the proliferation of perfectly legal “tax fraud,” there are still several situations where you may claim the actual “fair market value” of your car, truck, boat, RV or trailer when you donate any to a legitimate charitable non-profit organization (NPO). You will find however, that the rules governing what is “fair market value” have also changed.

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Verifying the Authenticity of a Supposedly Authorized Vehicle Donation Center

Without a doubt, giving your vehicle to a vehicle donation center is a human gesture of good will and generosity that helps the charity of your choice to make a difference in the life of people and families in need. A car donation center usually does business through a ‘go-between’ agent joining you (the donor) and the charity you wish to help (the recipient of your donation). Car Donations are quick and easily handled when utilizing charity vehicle donation programs. You can donate cars, trucks, vans, boats, planes, even lots and real estate.

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