We are all feeling the pain at the gas pump with the rising prices of gasoline across the United States. In fact, it’s becoming harder and harder for the working class to continue to fill up the tank. Some people are even resulting to making a decision between putting food on the table or gas in the tank.
One way to help alleviate some of the “pain at the pump” is to obtain gas cards. Gas Buddy is a great way to save a few cents at the pump while earning rewards and lowering your total costs at the pump. The program is free to sign up for . There is also an app to download that shows you the prices of gasoline at gas stations near you. Another option is getting a business credit card. This card is used just for purchases with your business. Everything can easily be tracked with your statements and you’ll earn additional rewards as well. A good option is Chase Ink.
Being a Mobile Notary Public, I’ve felt the disruptions the rise of gas prices has caused. I’ve become very selective on the closing I take and the distance I travel. I mean, in the last 2 years, I already placed over 65,000 miles on my 2019 Chevy Traverse! My travel distance has decreased from coverage of 25 counties to only around 13. But, the IRS recognized that robbery at the pump, that is high gas prices and are deciding to make a small change.
Effective July 1, 2022, the federal standard IRS Mileage rate will increase from $0.58/ mile to $0.625/mile for the remainder of 2022. This doesn’t change the fee of your notarizations, but it does change the amount of out of pocket expenses.
For example, I am completing a notarization of a Power of Attorney document for a couple that stays roughly 20 miles away. The fee to notarize the document will be $10.00. Because they are located outside of my county, a travel fee is charged. Based on the previous IRS rate of $0.58/ mile, their travel fee would be $23.20 ($0.58/mile x 40 miles). With the new mileage rate, the new travel fee would be $25 ($0.625/mile x 40 miles).
https://www.investopedia.com/irs-increases-mileage-rates-5409074
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