| Higher IRS mileage rate | | | | As travel becomes more expensive, it will become |
| To compensate for the increase in the cost of running | | | | harder and more expensive for any one who needs |
| a vehicle, the IRS recently approved a 20% increase in | | | | to travel for business. |
| their mileage reimbursement allowance. Effective | | | | Less likely to vacation |
| September 1, 2008 the mileage rate will increase from | | | | According the Danita Blackwood of Small Business |
| 40.5 cents to 48.5 cents a mile. | | | | Television, "the number of Americans making plans to |
| Higher taxes on everything | | | | take a vacation over the next six months has fallen to |
| Because of increased costs of production and | | | | a 30-year low." As more and more taxpayers delay |
| shipping, you are basically paying slightly higher prices | | | | their travel plans, areas that depend on revenue from |
| on almost everything you purchase. Especially when | | | | tourism will also feel the pain of high gas prices. |
| you buy any items that have a % based sales tax | | | | Lower suburban house prices |
| levied on them. | | | | Ten years ago it seemed like almost everyone was |
| Fuel Surcharges | | | | moving from larger cities to suburbia. However, people |
| In addition to increasing consumer prices, some | | | | are beginning to move back to the cities as the cost |
| businesses are passing on a fuel charge to | | | | of commuting has gotten far too expensive. As people |
| purchasers. This charge varies depending on the type | | | | continue to try to unload their suburban homes, the |
| of product or service you are purchasing, but can | | | | prices will continue to drop and it will get even harder |
| quickly increase the amount of money you spend on | | | | for sellers. |
| necessary living expenses. | | | | Stress at work |
| More difficult business travel | | | | With nearly all businesses feeling the pressure of the |
| Even with the IRS mileage rate increase, business | | | | economy, studies show that employees are getting |
| related travel is going to become a lot more difficult as | | | | worried about their job stability. This is making life more |
| gas prices increase. Air plans are tightening their flights, | | | | stressful for taxpayers both at home and at the office. |
| and car rental agencies are increasing prices as well. | | | | |