The Internal Revenue Service (IRS) announced an increase of 8 cents in the business related mileage rate deduction. The rate increase goes into effect July 1, 2008, and will increase from 50.8 to 58.8 cents per mile.
The IRS mileage rate increase is a welcome sign after a spike of more than 20% in gas prices this year.
When you use your automobile for business, the mileage incurred is legitimate business expense, the new rates will help offset the cost of higher gas prices. However, business owners may want to expensing their driving expenses instead of the IRS mileage reimbursement since they can usually write off more on their income tax.
The FCX Clarity hydrogen car is now available for lease from participating Honda dealers for Southern California residents who live in Santa Monica, Torrence or Irvine.
The FCX Clarity lease runs at$600 per month which includes maintenance and insurance costs. Honda is currently limiting the lease to residents who have access to fueling service areas.
The 270 mile range car runs off a hydrogen fuel cell and is refillable at designated filling stations provided by Honda. Honda has also partnered with Plug Power Inc. to develop a Home Energy Station which is small enough to fit in the home owners garage.
A123Systems announce six initial certified partnerships that are authorized to install and convert the hybrid Toyota Prius to an plug-in hybrid electric vehicle (PHEV). The conversion is expected to increase the gas mileage of the Prius to over 100 MPG for the first 30 - 40 mile commute.
The L5 module, designed for the the 2004 - 2008 Toyota Prius, provides approximately 5 kWh of power and takes only 4.5 hours to recharge. The A123Systems L5 module runs $9995 which includes installation and a 3 year warranty.
A former NASCAR employee filed a $225 million dollar sexual harassment, racial discrimination and wrongful termination lawsuit against NASCAR today. Mauricia Grant, a thirity-two year old African American Woman, worked for NASCAR from January 2005 to October 2007.
The lawsuit was filed in the United States District Court for the Southern District of New York and lists twenty-three incidents of sexual harassment and thirty-four incidents of racial and gender discrimination.
Ft. Worth, Texas – Dan Wheldon crashed today at the Texas Motor Speedway during a practice run. He injured his right ankle after rolling his car on the infield grass.
Wheldon, who teams with Chip Ganassi Racing, is expected to enter Saturday evening in the Indy Car Bombardier LearJet 550 race.
A 78-year old man was helplessly left unaided by bystanders after being hit by a car that left the scene. It wasn’t until several minutes until a Police Cruiser patrolling the area found the victim in the street.
A dozen witnesses stood by as the hit-and-run victim in lay helplessly in the street. No one took the initiative to help the man or even call 911.
Toyota announced at the Detroit Auto Show that it plans to sell lithium-ion battery plug-in hybrid vehicles to fleet customers in the US by 2010.
The plug-in hybrid typically plugs into a normal 120V or 240V outlet outfitted in household’s garages and charges the battery for the next days commute.
Good news for New Jersey residents, IFA is lowering auto insurance rates! New Jersey drivers can expect on the average a 5% reduction in full coverage.
Improvements in overall vehicle safety, as well as more conscientious drivers have resulted in fewer losses for our company. IFA believes it is our obligation to pass those savings on to our Customers. By keeping rates low and by providing excellent service we have succeeded in building lasting relationships with our Customers,”
announced David Walsh, President of the IFA Insurance Company.
The India Tata Group unveiled the world’s lowest priced automobile starting at 100,000 rupees or about $2,500 USD.
Competing against Renault and Suzuki, the Tata Group expects their lower-priced auto to make deep penetration into the Indian market.
When inventor Marvin Weinberger decided he had enough of flimsy ice scrapers, he came up with a revolutionary idea which would “tenderize” the ice build up on windshields.
The IceDozer, tenderizes the ice before scraping it off and leaving a clean windshield.