New Federal Milage Rate as of 7/1/2022

[notarynearme]

Just in case the news did not trickle down…the new Federal Milage Deduction Rate is 62.5 cents per mile beginning 07/01/2022 thru the end of the year.

[cNsa5]

@notarynearme You’re kind & thoughtful to post your discovery.

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NOTE: You may find it helpful to research the Notary Cafe database that contains a gold mine of helpful elucidating information & data. It echoes around this forum that the magical Magnifying Glass for utilizing & accessing the Search function is IMPOSSIBLE to locate on the Notary Cafe website. So, here is an image to help guide you to find it:

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The update for the Federal Mileage Deduction Rate was previously posted on 11JUN22 by @LindaH-FL that includes a direct url reference to the official IRS Bulletin announcement & 14JUN22 by @RiverpointeTax => See the threads that follow for more information that was gleaned from the Notary Cafe database:

IRS Mileage Increase Remainder of 2022

Just saw this elsewhere…IRS standard mileage being increased to $.625/mile for remainder of 2022

IRS Updates Mileage Rates

The IRS has increased the Standard Mileage Rates. For January 1 through June 30 of this year, the rate is set at 58.5 cents per mile. The rate will then rise to 62.5 cents per mile for the period from July 1 through December 31. Note that the standard rate of 14 cents per mile for eligible charitable activities will not change. This means keeping accurate mileage records is important as you’ll have to calculate a split year.

[notarynearme]

Thank you for your kind words and the information on where to find searches. I was literally looking for that before posting.

[cNsa5]

@notarynearme Sorry you had to struggle with that . . . so very many members share that it truly is IMPOSSIBLE to find the Magnifying Glass icon.

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Beginning many years ago, several of us sages have submitted multiple requests in writing to the Notary Cafe Support Team asking to PLEASE BRIGHTEN the Magnifying Glass icon for the Search function so that members can locate it . . . no status updates & no changes thus far though . . .

[judikidd]

Thanks! That will help.

[notary]

It is good that IRS has increased mileage rate since gas is much
higher. So are tires, oil changes and …

I often hear Notaries, Signing Services and Title representatives say the IRS allows, in this case, 62.5 cents per mile. And, why are you charging me more?

The key words here are ‘IRS allows’.

The 62.5 cents is simply what is allowed as a tax benefit.

It does not reflect the full cost, per mile, of operating a vehicle.

I believe, using this allowance to determine what a notary charges per mile for long distance assignments does not cover the vehicle operating costs.

Additionally, the IRS allowance does not include paying the driver (Notary).

The driver cost (wage) also needs to be factored in to a Notary’s mileage rate when considering jobs with extra drive time/mileage.

Respectfully,

[ashton]

I agree with the concept expressed by the user named “notary” but some state legislatures are too dumb to figure that out. Some only allow notaries to charge the IRS rate for travel, or even less.

The residents of these state don’t deserve mobile notary service until they elect better lawmakers.

[jnewberry]

Notary Gadget ;has applied the new rate automatically.