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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (171061)	12/13/2008 9:35:35 AM
From: ChanceIs	Respond to of 306849

>>>"Dieter! Make sure we make the threads with enough tolerance ......idiot forgets to replace them at 100,000 kilometers."<<< Mega ROFLMAO. >>>Go figure you cost per mile, and you won't be PO ;-)<<< I bought my '85 300SD in '95 with 170K miles on it for $8K. I drove it for 11 years while putting and 150K miles on it. Sold it for $1K. These days the government allows about $0.50/mile for car usage. You know...if you are doing government business in your own car, or if you are doing private business in your car you get reimbursed or an expense of $0.50/mile. At that rate, the car gave me a return of $75K on my $8K investment. Of course the fuel comes out of that $75K, the reimbursement rate was a lot lower a decade ago, and inflation, maintenance, and IRR/opportunity costs have to be cranked in there. But I think that the case is overwhelming w/o cranking the numbers. There are lots of intangibles. I try not to be vain - it is a struggle - but driving around in a Benz does nothing to hurt your image. Something less intangible is a big safety factor. That car figuratively "weighed a ton" and literally weighed about two tons. You would not have wanted to get into a head-on with me. That two tons gave an awfully comfortable ride. I may have added six months to the life of my joints - especially inter-vertebral discs - due to less driving vibrations. Oh. Another intangible. I would get about 31-32 mpg on the highway. That $0.50/mile government mileage I cited above was probably based upon a US average of about 22 mpg. _________________________________________ EDIT: The gummit now allows $0.585/mile - but only for a limited time. I doubt it will go back down with the sudden price drop of gasoline. Once a benefit is given it is real hard to take back. Bread and circus or some such: _________________ IRS Increases Mileage Rates through Dec. 31, 2008 WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2008. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The rate will increase to 58.5 cents a mile for all business miles driven from July 1, 2008, through Dec. 31, 2008. This is an increase of eight [8] cents from the 50.5 cent rate in effect for the first six months of 2008, as set forth in Rev. Proc. 2007-70. In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2008. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. "Rising gas prices are having a major impact on individual Americans. Given the increase in prices, the IRS is adjusting the standard mileage rates to better reflect the real cost of operating an automobile," said IRS Commissioner Doug Shulman. "We want the reimbursement rate to be fair to taxpayers." While gasoline is a significant factor in the mileage figure, other items enter into the calculation of mileage rates, such as depreciation and insurance and other fixed and variable costs. The optional business standard mileage rate is used to compute the deductible costs of operating an automobile for business use in lieu of tracking actual costs. This rate is also used as a benchmark by the federal government and many businesses to reimburse their employees for mileage. The new six-month rate for computing deductible medical or moving expenses will also increase by eight [8] cents to 27 cents a mile, up from 19 cents for the first six months of 2008. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile. The new rates are contained in Announcement 2008-63 on the optional standard mileage rates. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.