BUDGET & FINANCE
The Budget and Finance Committee is a Standing Committee of the Presbytery. It’s duties include, but are not limited to, making recommendations to the Presbytery Council, and then implementing those recommendations upon approval. They must maintain a three-year timetable for the development of Presbytery’s asking and spending budgets. They must also determine the sources of income, and coordinate with the Presbytery’s Funds Administration Committee in establishing guidelines for the use of funds administered by the Shenandoah Presbytery Corporation.
2022 Standard Mileage Rates for Business, Medical and Moving Announced
WASHINGTON — The Internal Revenue Service issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning July 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
*62.5 cents per mile driven for business use, up 4 cents from the rate for early 2022.
*18 cents per mile driven for medical, or moving purposes for qualified active-duty members of the Armed Forces, up 2 cents from the rate for
*14 cents per mile driven in service of charitable organizations.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs. The charitable rate is set by law. (To view the IRS web page, click here.)
If you have any questions about this, please call Heather Carter at (540) 433-2556 ext 104.