Miscellaneous inflation adjustments.

• Author: Laffie, Lesli S.

Mileage allowance: Rev. Proc. 2003-76 provides that the 2004 business mileage allowance will be 37.5 cents per mile; the moving, medical and charitable mileage allowance will be 14 cents per mile. In addition, after 2003, businesses may use the mileage allowance if they use four or fewer automobiles for business simultaneously (currently, the allowance is restricted to one business automobile).

Social Security wage base: According to the Social Security Administration (see...