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.
2020 Standard Mileage Rates for Business, Medical and Moving Announced
December 31, 2019
WASHINGTON — The Internal Revenue Service today issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
*57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019.
*17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019.
*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.
If you have any questions about this, please call Heather Carter at (540) 433-2556 ext 104.