Discussion:Medical standard mileage
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Discussion Forum Index --> Basic Tax Questions --> Medical standard mileage
Discussion Forum Index --> Tax Questions --> Medical standard mileage
| 28 November 2007 | |
| help me understand when medical is 19 and business is 50.5 for 2008. Doesn't it cost the same to drive the car. Even if you take out the depreciation of 21cents that just knocks it down to 29.5 cents
Neil | |
| 28 November 2007 | |
| yes, but the incentive is to be in business, make tons of money, create jobs, pay taxes...not haul your mother-in-law back and forth to the doctor's office.
Gosh, the health insurance business is incentive enough for people to go to the doctor. Let's not give 'em more reason. | |
| 28 November 2007 | |
| The statute allowing medical deductions refers to "amounts paid," not "paid or incurred" is in 162. That language allows for only direct operating costs, not depreciation or such. IRS, who does not really care what these various rates are (verses Treasury and OMB), is locked in by the Congress. | |
| 29 November 2007 | |
| so depreciation and tire ware and maintenance cost are not part of the calculation? if you take the 50.5-19 for medical you get 31.5 which does not equate to the depreciate amount only | |
| 29 November 2007 | |
| The amounts are set by statute. As 94nole said , the incentive is to generate taxes. There is no link between the two rates. | |
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