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The Secret Link Between High Gas Prices and Lower Taxes

The Secret Link Between HIGH GAS PRICES and LOWER TAXES Gas is expensive Average Regular Gas Price By State Less than $3.25 $3.25 - $3.47 $3.48 - $3.69 $3.70 - $3.92 Above 3.92 States with Highest Gas Prices on Average States with Lowest Gas Prices on Average Hawaii $4.328 South Carolina $3.222 California $4.029 Tennessee $3.247 Alaska $3.985 Mississippi $3.271 Minnesota $3.981 Alabama $3.285 Oregon $3.831 Louisiana $3.286 Americans drive a lot The average car in the US is driven 15,000 miles per year. That is more than traveling from New York, NY to San Francisco, CA... 5 Times! (NY SF $ We spend a lot on gas If you drive 15,000 miles per year at an average of 30 miles per gallon, you spend $1990 per year on gas. X, You can deduct it! Standard Mileage Rate (SMR) Deductions - The amount you can deduct based on your mileage depends on the reason for your trip. Here is what the IRS allows you to deduct. Year Business Moving Medical Charitable 2012 55.5 cents 23 cents 23 cents 14 cents 2013 56.5 cents 24 cents 24 cents 14 cents +1 cent +1 cent +1 cent No change SOURCES http://gasbuddy.com/GB_Price_List.aspx http://www.bankrate.com/finance/taxes/mileage-deduction-amounts.aspx#ixzz2SnlBi5H3 http://wiki.answers.com/Q/Average_miles_a_car_is_driven_per_year#page http://en.wikipedia.org/wiki/Passenger_vehicles_in_the_United_States#Fuel_economy http://www.mapcrow.info/cgi-bin/cities_distance.cgi http://fuelgaugereport.opisnet.com/CAavg.asp http://www.thenewamerican.com/tech/energy/item/13145-california-gas-prices-reach-all-time-high-of-$467-per-gallon http://newsroom.aaa.com/tag/gas-prices/ Infographic by Shoeboxed (www.shoeboxed.com). Tracking your mileage using the Shoeboxed Receipt Tracker app makes it easy to calculate your deductions come tax time. Lose the paper and download the app for iOS or Android today. © 2006 - 2013 Shoeboxed nc., All Rights Reserved e shoeboxed.com

The Secret Link Between High Gas Prices and Lower Taxes

shared by ragg41 on May 20
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Driving is expensive - at least it is if you still need to pump gas to do it! Gas prices continue to rise, but there is a silver lining: This infographic helps you figure out how much Uncle Sam needs...

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Shoeboxed

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Economy
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